Deckers Outdoor Corp Stock Rating Upgraded by Jefferies Group (DECK)
Deckers Outdoor Corp (NASDAQ:DECK) was upgraded by equities researchers at Jefferies Group from a “hold” rating to a “buy” rating in a research report issued on Friday, TheFlyOnTheWall.com reports. The firm currently has a $130.00 price target on the stock, up from their previous price target of $78.00. Jefferies Group’s target price suggests a potential upside of 43.65% from the company’s current price.
The analysts wrote, “under-appreciates” the potential for profit growth. Recent results “set up a strong acceleration for the fall,” Canaccord’s Camilo Lyon said in a note reiterating a Buy rating and raising his target from $103 to $106. Citi’s Corinna Van der Ghinst said spending on marketing and direct-to-consumer sales will help insure “long-term, sustainable growth.”
Other equities research analysts have also recently issued reports about the stock. Analysts at B. Riley reiterated a “buy” rating on shares of Deckers Outdoor Corp in a research note on Tuesday. They now have a $108.00 price target on the stock, up previously from $106.00. Separately, analysts at Macquarie downgraded shares of Deckers Outdoor Corp from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 1st. They now have a $92.00 price target on the stock, down previously from $95.00. They noted that the move was a valuation call. Finally, analysts at Citigroup Inc. initiated coverage on shares of Deckers Outdoor Corp in a research note on Friday, June 20th. They set an “outperform” rating and a $98.00 price target on the stock. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Deckers Outdoor Corp has an average rating of “Buy” and an average target price of $96.06.
Deckers Outdoor Corp (NASDAQ:DECK) opened at 90.50 on Friday. Deckers Outdoor Corp has a 52-week low of $52.97 and a 52-week high of $94.80. The stock’s 50-day moving average is $83.26 and its 200-day moving average is $80.03. The company has a market cap of $3.133 billion and a P/E ratio of 20.92.
Deckers Outdoor Corp (NASDAQ:DECK) last released its earnings data on Thursday, July 24th. The company reported ($1.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.28) by $0.21. The company had revenue of $211.50 million for the quarter, compared to the consensus estimate of $191.96 million. During the same quarter in the previous year, the company posted ($0.85) earnings per share. The company’s revenue for the quarter was up 24.3% on a year-over-year basis. Analysts expect that Deckers Outdoor Corp will post $4.69 EPS for the current fiscal year.
In other Deckers Outdoor Corp news, Insider Constance Rishwain sold 6,000 shares of the company’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $92.48, for a total value of $554,880.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Deckers Outdoor Corporation is engaged in designing, marketing and distributing footwear, apparel and accessories developed for both everyday casual lifestyle use and high performance activities.
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