Deckers Outdoor Corporation (DECK) Price Target Raised to $74.00 at Citigroup Inc.
Deckers Outdoor Corporation (NYSE:DECK) had its price objective lifted by Citigroup Inc. from $70.00 to $74.00 in a report released on Friday. The firm presently has a “neutral” rating on the textile maker’s stock. Citigroup Inc.’s target price indicates a potential upside of 2.08% from the stock’s current price.
Other equities research analysts also recently issued reports about the company. FIG Partners restated a “buy” rating on shares of Deckers Outdoor Corporation in a report on Monday, October 16th. Robert W. Baird restated a “hold” rating and set a $67.00 price objective on shares of Deckers Outdoor Corporation in a report on Friday, October 6th. UBS AG downgraded Deckers Outdoor Corporation to a “neutral” rating in a report on Monday, October 16th. ValuEngine upgraded Deckers Outdoor Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Finally, Telsey Advisory Group lifted their price objective on Deckers Outdoor Corporation from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. Deckers Outdoor Corporation presently has a consensus rating of “Hold” and a consensus price target of $68.21.
Deckers Outdoor Corporation (DECK) traded up 3.32% during mid-day trading on Friday, hitting $72.49. 2,256,292 shares of the company were exchanged. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 104.15 and a beta of 1.34. Deckers Outdoor Corporation has a 12 month low of $44.00 and a 12 month high of $73.45. The firm has a 50 day moving average price of $66.58 and a 200 day moving average price of $64.59.
Deckers Outdoor Corporation (NYSE:DECK) last released its quarterly earnings results on Thursday, October 26th. The textile maker reported $1.54 EPS for the quarter, topping the consensus estimate of $1.02 by $0.52. The firm had revenue of $482.50 million for the quarter, compared to analyst estimates of $440.11 million. Deckers Outdoor Corporation had a return on equity of 15.32% and a net margin of 1.80%. Deckers Outdoor Corporation’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the company posted $1.21 EPS. Analysts anticipate that Deckers Outdoor Corporation will post $4.09 EPS for the current fiscal year.
Deckers Outdoor Corporation declared that its Board of Directors has approved a share buyback program on Thursday, October 26th that authorizes the company to buyback $335.00 million in shares. This buyback authorization authorizes the textile maker to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
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A number of institutional investors and hedge funds have recently modified their holdings of the stock. Crossmark Global Holdings Inc. bought a new position in Deckers Outdoor Corporation during the 3rd quarter worth $202,000. Nationwide Fund Advisors grew its stake in Deckers Outdoor Corporation by 18.8% during the 3rd quarter. Nationwide Fund Advisors now owns 91,312 shares of the textile maker’s stock worth $6,247,000 after buying an additional 14,429 shares during the last quarter. Strs Ohio grew its stake in Deckers Outdoor Corporation by 2,175.0% during the 3rd quarter. Strs Ohio now owns 18,200 shares of the textile maker’s stock worth $1,245,000 after buying an additional 17,400 shares during the last quarter. APG Asset Management N.V. bought a new position in Deckers Outdoor Corporation during the 3rd quarter worth $1,067,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Deckers Outdoor Corporation during the 2nd quarter worth $1,423,000. Hedge funds and other institutional investors own 99.23% of the company’s stock.
About Deckers Outdoor Corporation
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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