Deckers Outdoor Corp. (DECK) Downgraded by Zacks Investment Research
Deckers Outdoor Corp. (NYSE:DECK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Deckers is focused on expanding its brand assortments, bringing more innovative line of products, targeting consumers digitally via marketing and sturdy eCommerce, and optimizing omni-channel distribution. These helped post better-than-expected bottom-line performance for the fifth straight quarter, as it reported first-quarter fiscal 2017 results. Net sales also beat the estimate for the second quarter in row. In an effort to speed up growth through its long-term strategies, the company announced an organization restructuring plan that focuses on realigning its brands and optimizing its store fleet. The company envisions second quarter net sales to be up 1%−3% and earnings in the band of $1.12-$1.22 per share. However, the company’s over-reliance on the UGG brand is a matter of concern, which fell almost 20% during the first quarter. Moreover, foreign currency headwinds and stiff competition may also play spoil sport.”
Several other research analysts also recently commented on the company. Susquehanna downgraded Deckers Outdoor Corp. from a “neutral” rating to a “negative” rating and reduced their price objective for the stock from $59.00 to $49.00 in a report on Thursday, October 13th. Telsey Advisory Group upgraded Deckers Outdoor Corp. from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $68.00 to $78.00 in a report on Monday, August 15th. Canaccord Genuity restated a “buy” rating and set a $72.00 price objective on shares of Deckers Outdoor Corp. in a report on Sunday, September 11th. Guggenheim assumed coverage on Deckers Outdoor Corp. in a report on Friday, September 30th. They issued a “neutral” rating on the stock. Finally, Jefferies Group lifted their price target on Deckers Outdoor Corp. from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday, July 29th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $60.19.
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Shares of Deckers Outdoor Corp. (NYSE:DECK) traded up 1.42% on Wednesday, hitting $57.04. The stock had a trading volume of 213,673 shares. The company has a market cap of $1.83 billion, a P/E ratio of 16.89 and a beta of 1.08. Deckers Outdoor Corp. has a 12 month low of $40.74 and a 12 month high of $69.94. The company’s 50 day moving average price is $60.77 and its 200-day moving average price is $59.14.
Deckers Outdoor Corp. (NYSE:DECK) last released its quarterly earnings data on Thursday, July 28th. The company reported ($1.80) EPS for the quarter, topping the consensus estimate of ($2.07) by $0.27. The company had revenue of $174.40 million for the quarter, compared to the consensus estimate of $170.48 million. Deckers Outdoor Corp. had a return on equity of 14.78% and a net margin of 6.03%. Deckers Outdoor Corp.’s quarterly revenue was down 18.4% on a year-over-year basis. During the same period last year, the business posted ($1.43) EPS. On average, analysts expect that Deckers Outdoor Corp. will post $4.31 earnings per share for the current year.
In other Deckers Outdoor Corp. news, Director John G. Perenchio sold 23,500 shares of the business’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $67.16, for a total transaction of $1,578,260.00. Following the completion of the sale, the director now directly owns 28,281 shares in the company, valued at approximately $1,899,351.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO David Powers sold 1,750 shares of the business’s stock in a transaction that occurred on 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 owns 118,873 shares of the company’s stock, valued at $7,628,080.41. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. CIBC World Markets Inc. raised its stake in Deckers Outdoor Corp. by 0.7% in the second quarter. CIBC World Markets Inc. now owns 8,360 shares of the company’s stock valued at $481,000 after buying an additional 60 shares during the period. 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 valued at $673,000 after buying an additional 221 shares during the period. Comerica Bank raised its stake in Deckers Outdoor Corp. by 1.2% in the second quarter. Comerica Bank now owns 21,939 shares of the company’s stock valued at $1,383,000 after buying an additional 265 shares during the period. Amalgamated Bank raised its stake in Deckers Outdoor Corp. by 10.9% in the second quarter. Amalgamated Bank now owns 4,017 shares of the company’s stock valued at $266,000 after buying an additional 394 shares during the period. Finally, UBS Asset Management Americas Inc. raised its stake in Deckers Outdoor Corp. by 2.0% in the second quarter. UBS Asset Management Americas Inc. now owns 21,572 shares of the company’s stock valued at $1,241,000 after buying an additional 413 shares during the period.
Deckers Outdoor Corp. Company Profile
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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