Deckers Outdoor (NYSE:DECK) Upgraded at Argus

Argus upgraded shares of Deckers Outdoor (NYSE:DECK) from a hold rating to a buy rating in a report issued on Friday, MarketBeat.com reports.

Several other equities analysts have also recently issued reports on the company. Guggenheim initiated coverage on Deckers Outdoor in a research report on Tuesday, December 9th. They issued a “neutral” rating on the stock. Stifel Nicolaus upped their price target on Deckers Outdoor from $117.00 to $140.00 and gave the company a “buy” rating in a report on Friday, January 30th. Barclays reaffirmed an “overweight” rating and set a $143.00 price objective (up from $113.00) on shares of Deckers Outdoor in a research report on Friday, January 30th. UBS Group reissued a “buy” rating and issued a $161.00 target price (up previously from $157.00) on shares of Deckers Outdoor in a research report on Friday, January 30th. Finally, Citigroup restated a “buy” rating and set a $130.00 target price (up previously from $120.00) on shares of Deckers Outdoor in a research note on Thursday, January 15th. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Deckers Outdoor has an average rating of “Moderate Buy” and a consensus price target of $125.20.

Deckers Outdoor Stock Performance

Shares of DECK stock opened at $118.70 on Friday. Deckers Outdoor has a one year low of $78.91 and a one year high of $151.33. The company’s 50-day moving average is $106.63 and its 200 day moving average is $102.48. The company has a market capitalization of $16.85 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 2.70 and a beta of 1.16.

Deckers Outdoor (NYSE:DECK) last issued its earnings results on Thursday, January 29th. The textile maker reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.56. Deckers Outdoor had a net margin of 19.46% and a return on equity of 41.60%. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the company earned $3.00 earnings per share. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, research analysts predict that Deckers Outdoor will post 5.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Robin Spring-Green sold 347 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $113.78, for a total transaction of $39,481.66. Following the completion of the sale, the insider directly owned 42,461 shares in the company, valued at approximately $4,831,212.58. The trade was a 0.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Anne Spangenberg sold 4,063 shares of the stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $116.02, for a total transaction of $471,389.26. Following the completion of the transaction, the insider owned 80,449 shares in the company, valued at $9,333,692.98. The trade was a 4.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 9,092 shares of company stock valued at $1,048,552. Insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Deckers Outdoor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of Deckers Outdoor by 2.7% in the second quarter. Geode Capital Management LLC now owns 4,427,639 shares of the textile maker’s stock worth $454,662,000 after purchasing an additional 114,779 shares in the last quarter. Federated Hermes Inc. raised its holdings in Deckers Outdoor by 374.1% during the fourth quarter. Federated Hermes Inc. now owns 3,149,719 shares of the textile maker’s stock valued at $326,531,000 after acquiring an additional 2,485,338 shares during the period. Invesco Ltd. lifted its position in shares of Deckers Outdoor by 19.4% in the second quarter. Invesco Ltd. now owns 2,781,218 shares of the textile maker’s stock valued at $286,660,000 after acquiring an additional 452,081 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Deckers Outdoor by 340.5% in the fourth quarter. AQR Capital Management LLC now owns 2,633,353 shares of the textile maker’s stock worth $273,000,000 after acquiring an additional 2,035,517 shares during the period. Finally, Norges Bank purchased a new stake in shares of Deckers Outdoor during the fourth quarter worth about $252,729,000. Institutional investors own 97.79% of the company’s stock.

About Deckers Outdoor

Deckers Outdoor Corporation is a global designer, marketer and distributor of footwear, apparel and accessories. The company’s product portfolio includes well‐known brands such as UGG, HOKA, Teva, Sanuk and Koolaburra by UGG, spanning a range of lifestyle, performance and outdoor categories. Deckers leverages a blend of proprietary manufacturing, strategic brand storytelling and direct‐to‐consumer retail to serve both fashion‐focused and performance‐oriented customers.

Founded in 1973 by Doug Otto and Karl F.