Deckers Outdoor (NYSE:DECK) Shares Gap Down to $999.91

Deckers Outdoor Co. (NYSE:DECK)’s share price gapped down prior to trading on Friday . The stock had previously closed at $999.91, but opened at $978.04. Deckers Outdoor shares last traded at $992.10, with a volume of 21,192 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DECK. Wells Fargo & Company raised their target price on shares of Deckers Outdoor from $775.00 to $1,000.00 and gave the company an “equal weight” rating in a research note on Friday, May 24th. Telsey Advisory Group increased their price target on Deckers Outdoor from $985.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Tuesday, May 28th. Truist Financial raised Deckers Outdoor from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $1,011.00 to $1,200.00 in a research note on Tuesday, May 28th. BTIG Research upped their price objective on Deckers Outdoor from $1,120.00 to $1,200.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Finally, Citigroup raised their target price on shares of Deckers Outdoor from $835.00 to $920.00 and gave the company a “neutral” rating in a report on Wednesday, May 15th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,023.44.

Deckers Outdoor Stock Down 3.2 %

The stock has a market capitalization of $24.62 billion, a P/E ratio of 33.05, a P/E/G ratio of 3.34 and a beta of 1.11. The stock’s 50 day moving average price is $949.00 and its 200-day moving average price is $861.28.

Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings data on Thursday, May 23rd. The textile maker reported $4.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $2.13. Deckers Outdoor had a return on equity of 38.85% and a net margin of 17.69%. The company had revenue of $959.76 million for the quarter, compared to the consensus estimate of $892.00 million. During the same quarter last year, the company earned $3.46 earnings per share. The firm’s revenue for the quarter was up 21.2% compared to the same quarter last year. Analysts anticipate that Deckers Outdoor Co. will post 30.59 earnings per share for the current year.

Insiders Place Their Bets

In other Deckers Outdoor news, insider Angela Ogbechie sold 153 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $1,077.93, for a total transaction of $164,923.29. Following the transaction, the insider now owns 3,779 shares in the company, valued at approximately $4,073,497.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO David Powers sold 5,993 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $824.11, for a total value of $4,938,891.23. Following the transaction, the chief executive officer now owns 98,218 shares in the company, valued at approximately $80,942,435.98. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Angela Ogbechie sold 153 shares of the company’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $1,077.93, for a total transaction of $164,923.29. Following the completion of the sale, the insider now directly owns 3,779 shares in the company, valued at $4,073,497.47. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,101 shares of company stock valued at $28,858,562. 0.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Deckers Outdoor

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Contravisory Investment Management Inc. purchased a new position in Deckers Outdoor during the first quarter worth approximately $36,000. FinTrust Capital Advisors LLC grew its stake in Deckers Outdoor by 437.5% in the 4th quarter. FinTrust Capital Advisors LLC now owns 43 shares of the textile maker’s stock valued at $29,000 after acquiring an additional 35 shares during the period. Anchor Investment Management LLC purchased a new stake in Deckers Outdoor in the 4th quarter worth $33,000. EntryPoint Capital LLC increased its holdings in Deckers Outdoor by 256.3% in the 1st quarter. EntryPoint Capital LLC now owns 57 shares of the textile maker’s stock worth $54,000 after acquiring an additional 41 shares in the last quarter. Finally, FSC Wealth Advisors LLC acquired a new position in Deckers Outdoor during the fourth quarter worth $39,000. Institutional investors and hedge funds 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.