Deckers Outdoor (NYSE:DECK) Coverage Initiated at Guggenheim

Analysts at Guggenheim began coverage on shares of Deckers Outdoor (NYSE:DECK) in a research note issued to investors on Wednesday, Benzinga reports. The firm set a “neutral” rating on the textile maker’s stock.

Several other research analysts have also recently issued reports on DECK. Truist Financial increased their price target on shares of Deckers Outdoor from $204.17 to $205.00 and gave the stock a “buy” rating in a report on Tuesday. Barclays lowered their target price on shares of Deckers Outdoor from $1,090.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, September 20th. Piper Sandler restated a “neutral” rating and set a $27.78 target price on shares of Deckers Outdoor in a research report on Friday, August 23rd. Seaport Res Ptn lowered shares of Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a research report on Monday. Finally, TD Cowen upped their target price on shares of Deckers Outdoor from $28.86 to $29.31 and gave the stock a “buy” rating in a research report on Friday, July 26th. Eight research 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, Deckers Outdoor has an average rating of “Moderate Buy” and an average price target of $65.68.

Deckers Outdoor Stock Performance

Shares of NYSE:DECK opened at $161.99 on Wednesday. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of 5.53, a PEG ratio of 2.74 and a beta of 1.05. Deckers Outdoor has a one year low of $80.67 and a one year high of $184.48. The company has a 50-day simple moving average of $70.20 and a 200-day simple moving average of $41.31.

Deckers Outdoor (NYSE:DECK) last posted its quarterly earnings results on Thursday, July 25th. The textile maker reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.03. The firm had revenue of $825.30 million during the quarter, compared to analysts’ expectations of $808.40 million. Deckers Outdoor had a net margin of 18.45% and a return on equity of 40.52%. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.07 earnings per share. As a group, research analysts forecast that Deckers Outdoor will post 5.2 EPS for the current fiscal year.

Insider Activity

In other news, CFO Steven J. Fasching sold 9,198 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $166.67, for a total value of $1,533,030.66. Following the sale, the chief financial officer now directly owns 161,838 shares in the company, valued at $26,973,539.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Steven J. Fasching sold 9,198 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $166.67, for a total transaction of $1,533,030.66. Following the sale, the chief financial officer now owns 161,838 shares in the company, valued at approximately $26,973,539.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Powers sold 140,832 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 2,450,808 shares in the company, valued at approximately $58,756,760.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

Institutional Trading of Deckers Outdoor

Hedge funds have recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. raised its stake in 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. Crewe Advisors LLC purchased a new position in Deckers Outdoor during the second quarter worth approximately $34,000. Contravisory Investment Management Inc. purchased a new position in Deckers Outdoor during the first quarter worth approximately $36,000. EntryPoint Capital LLC raised its stake in Deckers Outdoor by 256.3% during 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. Finally, Rise Advisors LLC purchased a new position in Deckers Outdoor during the first quarter worth approximately $61,000. Institutional investors and hedge funds 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.