Deckers Outdoor (DECK) Receives “Buy” Rating from Canaccord Genuity

Deckers Outdoor (NYSE:DECK)‘s stock had its “buy” rating reiterated by equities researchers at Canaccord Genuity in a report issued on Monday. They currently have a $100.00 price target on the textile maker’s stock, up from their previous price target of $78.00. Canaccord Genuity’s price objective points to a potential upside of 12.98% from the company’s current price.

Several other equities research analysts have also commented on the stock. Citigroup boosted their price objective on shares of Deckers Outdoor to $89.00 and gave the stock a “neutral” rating in a research note on Monday. Wedbush reissued a “neutral” rating and set a $83.00 price objective (up previously from $72.00) on shares of Deckers Outdoor in a research note on Thursday. They noted that the move was a valuation call. Stifel Nicolaus reiterated a “buy” rating and issued a $93.00 target price (up previously from $85.00) on shares of Deckers Outdoor in a research note on Wednesday, January 17th. Zacks Investment Research downgraded shares of Deckers Outdoor from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, Jefferies Group downgraded shares of Deckers Outdoor from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $76.15.

Deckers Outdoor (DECK) traded up $0.07 during trading hours on Monday, reaching $88.51. 259,415 shares of the company traded hands, compared to its average volume of 549,013. Deckers Outdoor has a 1-year low of $44.00 and a 1-year high of $89.77. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.43 and a quick ratio of 1.26. The company has a market capitalization of $2,826.67, a price-to-earnings ratio of 88.77, a P/E/G ratio of 1.86 and a beta of 1.26.

Deckers Outdoor declared that its Board of Directors has initiated a stock repurchase program on Thursday, October 26th that permits the company to repurchase $335.00 million in outstanding shares. This repurchase authorization permits the textile maker to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Hedge funds and other institutional investors have recently modified their holdings of the company. Eagle Asset Management Inc. purchased a new position in shares of Deckers Outdoor during the third quarter valued at approximately $8,548,000. American Century Companies Inc. purchased a new position in shares of Deckers Outdoor during the third quarter valued at approximately $12,054,000. State Street Corp raised its holdings in shares of Deckers Outdoor by 3.6% during the second quarter. State Street Corp now owns 1,039,579 shares of the textile maker’s stock valued at $70,962,000 after purchasing an additional 36,356 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of Deckers Outdoor during the second quarter valued at approximately $761,000. Finally, Strs Ohio raised its holdings in shares of Deckers Outdoor by 2,175.0% during the third quarter. Strs Ohio now owns 18,200 shares of the textile maker’s stock valued at $1,245,000 after purchasing an additional 17,400 shares during the last quarter. Hedge funds and other institutional investors own 99.56% of the company’s stock.

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Deckers Outdoor 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.

Analyst Recommendations for Deckers Outdoor (NYSE:DECK)

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