Deckers Outdoor (DECK) Price Target Raised to $89.00 at Citigroup

Deckers Outdoor (NYSE:DECK) had its price objective hoisted by Citigroup to $89.00 in a research report issued on Monday, The Fly reports. The brokerage currently has a “neutral” rating on the textile maker’s stock. Citigroup’s price target points to a potential upside of 0.70% from the company’s current price.

Several other equities research analysts also recently issued reports on the company. Wedbush reaffirmed a “neutral” rating and issued a $83.00 price target (up from $72.00) on shares of Deckers Outdoor in a research report on Thursday. They noted that the move was a valuation call. Stifel Nicolaus reaffirmed a “buy” rating and issued a $93.00 price target (up from $85.00) on shares of Deckers Outdoor in a research report on Wednesday, January 17th. Zacks Investment Research downgraded Deckers Outdoor from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Jefferies Group downgraded Deckers Outdoor from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Finally, ValuEngine raised Deckers Outdoor from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. Deckers Outdoor has a consensus rating of “Hold” and a consensus target price of $76.15.

Deckers Outdoor (NYSE:DECK) traded down $0.06 during trading on Monday, reaching $88.38. 395,759 shares of the company’s stock traded hands, compared to its average volume of 545,413. 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 firm has a market capitalization of $2,820.00, a P/E ratio of 88.38, a price-to-earnings-growth ratio of 1.86 and a beta of 1.26. Deckers Outdoor has a 52-week low of $44.00 and a 52-week high of $89.77.

Deckers Outdoor declared that its Board of Directors has approved a share repurchase program on Thursday, October 26th that allows the company to buyback $335.00 million in shares. This buyback authorization allows the textile maker to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Large investors have recently bought and sold shares of the company. Flinton Capital Management LLC raised its stake in shares of Deckers Outdoor by 74.2% in the second quarter. Flinton Capital Management LLC now owns 1,728 shares of the textile maker’s stock valued at $118,000 after acquiring an additional 736 shares during the last quarter. Riverhead Capital Management LLC raised its stake in shares of Deckers Outdoor by 75.5% in the second quarter. Riverhead Capital Management LLC now owns 1,931 shares of the textile maker’s stock valued at $132,000 after acquiring an additional 831 shares during the last quarter. Contravisory Investment Management Inc. raised its stake in shares of Deckers Outdoor by 21,160.0% in the fourth quarter. Contravisory Investment Management Inc. now owns 2,126 shares of the textile maker’s stock valued at $171,000 after acquiring an additional 2,116 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Deckers Outdoor by 91.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,543 shares of the textile maker’s stock valued at $175,000 after acquiring an additional 1,213 shares during the last quarter. Finally, Lourd Capital LLC bought a new position in shares of Deckers Outdoor in the fourth quarter valued at approximately $231,000. Institutional investors own 99.56% of the company’s stock.

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About Deckers Outdoor

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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