Susquehanna Lowers Deckers Outdoor Corp. (DECK) to Negative
Deckers Outdoor Corp. (NYSE:DECK) was downgraded by equities researchers at Susquehanna from a “neutral” rating to a “negative” rating in a research report issued on Thursday.
Several other research firms have also recently weighed in on DECK. Telsey Advisory Group raised Deckers Outdoor Corp. from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $68.00 to $78.00 in a research report on Monday, August 15th. Brean Capital reissued a “buy” rating and issued a $72.00 price objective on shares of Deckers Outdoor Corp. in a research report on Friday, August 12th. Piper Jaffray Cos. reissued a “hold” rating and issued a $63.00 price objective on shares of Deckers Outdoor Corp. in a research report on Friday, July 29th. B. Riley reissued a “neutral” rating and issued a $63.00 price objective on shares of Deckers Outdoor Corp. in a research report on Monday, August 1st. Finally, Standpoint Research cut Deckers Outdoor Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $60.75.
Shares of Deckers Outdoor Corp. (NYSE:DECK) traded down 7.00% during trading on Thursday, hitting $56.71. 799,382 shares of the stock traded hands. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 16.79 and a beta of 1.08. Deckers Outdoor Corp. has a 52 week low of $40.74 and a 52 week high of $69.94. The firm’s 50-day moving average price is $61.84 and its 200-day moving average price is $59.20.
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Deckers Outdoor Corp. (NYSE:DECK) last announced its earnings results on Thursday, July 28th. The company reported ($1.80) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.07) by $0.27. The firm earned $174.40 million during the quarter, compared to analysts’ expectations of $170.48 million. Deckers Outdoor Corp. had a return on equity of 14.78% and a net margin of 6.03%. The company’s revenue was down 18.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.43) earnings per share. On average, equities research analysts anticipate that Deckers Outdoor Corp. will post $4.31 earnings per share for the current year.
In other news, Director Angel R. Martinez sold 29,058 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $67.61, for a total transaction of $1,964,611.38. Following the sale, the director now owns 393,636 shares of the company’s stock, valued at $26,613,729.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO David Powers sold 1,750 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $64.17, for a total value of $112,297.50. Following the sale, the chief executive officer now directly owns 118,873 shares in the company, valued at approximately $7,628,080.41. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in DECK. Fox Run Management L.L.C. acquired a new stake in Deckers Outdoor Corp. during the third quarter worth approximately $298,000. Oregon Public Employees Retirement Fund raised its stake in Deckers Outdoor Corp. by 2.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 11,296 shares of the company’s stock worth $673,000 after buying an additional 221 shares in the last quarter. Mason Street Advisors LLC acquired a new stake in Deckers Outdoor Corp. during the second quarter worth approximately $840,000. Public Employees Retirement System of Ohio raised its stake in Deckers Outdoor Corp. by 15.9% in the second quarter. Public Employees Retirement System of Ohio now owns 3,647 shares of the company’s stock worth $210,000 after buying an additional 499 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Deckers Outdoor Corp. by 7.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 183,651 shares of the company’s stock worth $10,564,000 after buying an additional 12,400 shares in the last quarter.
About Deckers Outdoor Corp.
Deckers Outdoor Corporation is engaged in designing, marketing and distributing footwear, apparel and accessories for both everyday casual lifestyle use and high performance activities. The Company’s segments include operations of its brands, such as UGG, Teva, Sanuk and other brands; wholesale divisions, and Direct-to-Consumer (DTC) business, which includes E-Commerce business and retail store business.
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