Wells Fargo & Company Cuts Deckers Outdoor (NYSE:DECK) Price Target to $165.00

Deckers Outdoor (NYSE:DECK) had its price objective reduced by investment analysts at Wells Fargo & Company from $1,000.00 to $165.00 in a report issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the textile maker’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 9.63% from the company’s current price.

A number of other brokerages have also commented on DECK. BTIG Research upped their target price on Deckers Outdoor from $31.11 to $33.33 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $30.56 price objective on shares of Deckers Outdoor in a report on Friday, July 26th. Evercore ISI lowered their target price on shares of Deckers Outdoor from $30.83 to $30.56 and set an “outperform” rating on the stock in a research note on Monday, July 15th. Robert W. Baird raised their price target on shares of Deckers Outdoor from $29.17 to $29.86 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Barclays dropped their target price on Deckers Outdoor from $1,090.00 to $180.00 and set an “overweight” rating for the company in a report on Friday. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Deckers Outdoor currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.99.

Deckers Outdoor Stock Performance

Shares of Deckers Outdoor stock traded down $0.23 during trading on Monday, reaching $150.50. The company’s stock had a trading volume of 94,791 shares, compared to its average volume of 2,286,898. The business’s fifty day moving average price is $38.18 and its 200-day moving average price is $30.11. Deckers Outdoor has a one year low of $80.67 and a one year high of $184.48. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of 5.13, a price-to-earnings-growth ratio of 2.66 and a beta of 1.05.

Deckers Outdoor (NYSE:DECK) last released its earnings results on Thursday, July 25th. The textile maker reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. Deckers Outdoor had a net margin of 18.45% and a return on equity of 40.52%. The firm had revenue of $825.30 million during the quarter, compared to analysts’ expectations of $808.40 million. During the same period in the prior year, the company earned $0.07 EPS. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. Sell-side analysts anticipate that Deckers Outdoor will post 31.6 EPS for the current year.

Insiders Place Their Bets

In other news, Director David Powers sold 140,832 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $23.97, for a total transaction of $3,376,368.96. Following the transaction, the director now owns 2,450,808 shares of the company’s stock, valued at $58,756,760.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.70% of the company’s stock.

Institutional Trading of Deckers Outdoor

Several institutional investors and hedge funds have recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Deckers Outdoor by 460.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 28 shares of the textile maker’s stock worth $27,000 after purchasing an additional 23 shares during the period. FinTrust Capital Advisors LLC grew its position in shares of Deckers Outdoor by 437.5% during the 4th quarter. FinTrust Capital Advisors LLC now owns 43 shares of the textile maker’s stock worth $29,000 after buying an additional 35 shares during the period. Crewe Advisors LLC bought a new stake in shares of Deckers Outdoor in the 2nd quarter valued at about $34,000. Contravisory Investment Management Inc. acquired a new stake in shares of Deckers Outdoor in the 1st quarter valued at approximately $36,000. Finally, EntryPoint Capital LLC raised its holdings in Deckers Outdoor by 256.3% in the first quarter. EntryPoint Capital LLC now owns 57 shares of the textile maker’s stock worth $54,000 after purchasing an additional 41 shares during the period. Institutional investors own 97.79% of the company’s stock.

About Deckers Outdoor

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.