Wedbush Reaffirms “Outperform” Rating for Deckers Outdoor (NYSE:DECK)

Wedbush restated their outperform rating on shares of Deckers Outdoor (NYSE:DECK) in a research note released on Wednesday, Benzinga reports. They currently have a $1,000.00 price target on the textile maker’s stock.

Several other brokerages have also recently weighed in on DECK. Evercore ISI began coverage on Deckers Outdoor in a research report on Thursday, February 15th. They set an outperform rating and a $960.00 price target on the stock. Wells Fargo & Company upped their price objective on shares of Deckers Outdoor from $625.00 to $775.00 and gave the stock an equal weight rating in a research report on Friday, February 2nd. Telsey Advisory Group restated an outperform rating and issued a $930.00 price objective on shares of Deckers Outdoor in a research report on Thursday, February 15th. UBS Group upped their price objective on shares of Deckers Outdoor from $950.00 to $1,150.00 and gave the stock a buy rating in a research report on Friday, February 2nd. Finally, KeyCorp began coverage on shares of Deckers Outdoor in a research report on Wednesday, February 7th. They issued an overweight rating and a $960.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $870.93.

Deckers Outdoor Stock Performance

Shares of Deckers Outdoor stock opened at $810.05 on Wednesday. Deckers Outdoor has a 52-week low of $424.36 and a 52-week high of $956.17. The stock’s 50-day simple moving average is $887.80 and its 200 day simple moving average is $722.02. The stock has a market capitalization of $20.79 billion, a P/E ratio of 29.14, a P/E/G ratio of 1.57 and a beta of 1.01.

Deckers Outdoor (NYSE:DECK) last announced its quarterly earnings data on Thursday, February 1st. The textile maker reported $15.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.40 by $3.71. Deckers Outdoor had a return on equity of 38.77% and a net margin of 17.57%. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the previous year, the business posted $10.48 EPS. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. Equities research analysts forecast that Deckers Outdoor will post 26.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other Deckers Outdoor news, CEO David Powers sold 17,978 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $716.52, for a total value of $12,881,596.56. Following the completion of the sale, the chief executive officer now owns 98,218 shares of the company’s stock, valued at $70,375,161.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO David Powers sold 17,978 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $716.52, for a total transaction of $12,881,596.56. Following the completion of the sale, the chief executive officer now owns 98,218 shares of the company’s stock, valued at $70,375,161.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Lauri M. Shanahan sold 3,672 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $832.22, for a total value of $3,055,911.84. Following the sale, the director now directly owns 4,515 shares of the company’s stock, valued at approximately $3,757,473.30. The disclosure for this sale can be found here. Insiders sold a total of 42,449 shares of company stock valued at $34,172,388 over the last quarter. 0.70% of the stock is owned by corporate insiders.

Institutional Trading of Deckers Outdoor

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Deckers Outdoor by 2.2% during the first quarter. BlackRock Inc. now owns 2,441,017 shares of the textile maker’s stock valued at $1,097,359,000 after purchasing an additional 51,898 shares during the period. Morgan Stanley lifted its stake in Deckers Outdoor by 82.6% in the third quarter. Morgan Stanley now owns 1,166,394 shares of the textile maker’s stock worth $599,633,000 after acquiring an additional 527,546 shares during the period. State Street Corp lifted its stake in Deckers Outdoor by 15.0% in the second quarter. State Street Corp now owns 838,595 shares of the textile maker’s stock worth $442,493,000 after acquiring an additional 109,341 shares during the period. Invesco Ltd. lifted its stake in Deckers Outdoor by 8.9% in the third quarter. Invesco Ltd. now owns 456,957 shares of the textile maker’s stock worth $234,917,000 after acquiring an additional 37,194 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Deckers Outdoor by 18.0% in the first quarter. Wellington Management Group LLP now owns 433,426 shares of the textile maker’s stock worth $118,658,000 after acquiring an additional 66,072 shares during the period. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Deckers Outdoor Company Profile

Deckers Outdoor Corporation, together with its subsidiaries, designs, markets, and distributes footwear, apparel, and accessories for casual lifestyle use and high-performance activities in the United States and internationally. The company offers premium footwear, apparel, and accessories under the UGG brand name; footwear and apparel for ultra-runners and athletes under the Hoka brand; and sandals, shoes, and boots under the Teva brand name.