Citigroup Forecasts Strong Price Appreciation for Deckers Outdoor (NYSE:DECK) Stock

Deckers Outdoor (NYSE:DECK) had its price target upped by investment analysts at Citigroup from $178.00 to $215.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the textile maker’s stock. Citigroup’s target price would suggest a potential downside of 0.88% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. KeyCorp upped their price objective on shares of Deckers Outdoor from $190.00 to $213.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Barclays upped their price objective on shares of Deckers Outdoor from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Robert W. Baird upped their price objective on shares of Deckers Outdoor from $195.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Truist Financial upped their price objective on shares of Deckers Outdoor from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, BTIG Research downgraded shares of Deckers Outdoor from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 22nd. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $182.20.

Deckers Outdoor Stock Down 0.8 %

NYSE:DECK opened at $216.90 on Thursday. The stock has a fifty day simple moving average of $203.00 and a 200-day simple moving average of $129.71. Deckers Outdoor has a 52-week low of $125.15 and a 52-week high of $218.92. The company has a market capitalization of $32.95 billion, a PE ratio of 38.14, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08.

Deckers Outdoor (NYSE:DECK) last announced its earnings results on Thursday, October 24th. The textile maker reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.35. Deckers Outdoor had a net margin of 18.95% and a return on equity of 41.48%. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the company posted $1.14 EPS. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. As a group, equities analysts anticipate that Deckers Outdoor will post 5.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Caroti Stefano sold 14,274 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $208.34, for a total transaction of $2,973,845.16. Following the completion of the transaction, the chief executive officer now directly owns 259,266 shares in the company, valued at approximately $54,015,478.44. This represents a 5.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Angela Ogbechie sold 1,278 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $163.24, for a total value of $208,620.72. Following the transaction, the insider now owns 29,628 shares of the company’s stock, valued at approximately $4,836,474.72. This trade represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,036 shares of company stock worth $13,715,482 in the last 90 days. 0.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Deckers Outdoor

Several institutional investors and hedge funds have recently made changes to their positions in the business. Solstein Capital LLC raised its position in shares of Deckers Outdoor by 500.0% during the 3rd quarter. Solstein Capital LLC now owns 162 shares of the textile maker’s stock valued at $26,000 after acquiring an additional 135 shares in the last quarter. Bell Investment Advisors Inc raised its position in shares of Deckers Outdoor by 521.4% during the 3rd quarter. Bell Investment Advisors Inc now owns 174 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 146 shares in the last quarter. Global Trust Asset Management LLC acquired a new stake in shares of Deckers Outdoor during the 4th quarter valued at approximately $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of Deckers Outdoor by 2,000.0% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 210 shares of the textile maker’s stock valued at $32,000 after acquiring an additional 200 shares in the last quarter. Finally, Rakuten Securities Inc. raised its position in shares of Deckers Outdoor by 397.7% during the 3rd quarter. Rakuten Securities Inc. now owns 219 shares of the textile maker’s stock valued at $35,000 after acquiring an additional 175 shares in the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

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, apparel, and accessories for ultra-runners and athletes under the HOKA brand name; and sandals, shoes, and boots under the Teva brand name.