Deckers Outdoor (NYSE:DECK) Stock Price Expected to Rise, KeyCorp Analyst Says

Deckers Outdoor (NYSE:DECK) had its price target hoisted by research analysts at KeyCorp from $213.00 to $230.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the textile maker’s stock. KeyCorp’s price objective would suggest a potential upside of 6.04% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Truist Financial lifted their target price 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. Evercore ISI boosted their price objective on shares of Deckers Outdoor from $195.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, January 9th. Wells Fargo & Company boosted their target price on shares of Deckers Outdoor from $170.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Friday, January 10th. Guggenheim initiated coverage on shares of Deckers Outdoor in a research note on Wednesday, October 9th. They issued a “neutral” rating for the company. Finally, Piper Sandler set a $166.00 price objective on shares of Deckers Outdoor in a research note on Thursday, October 17th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $182.20.

Deckers Outdoor Trading Down 0.8 %

DECK opened at $216.90 on Thursday. The firm has a market cap of $32.95 billion, a price-to-earnings ratio of 38.14, a PEG ratio of 2.98 and a beta of 1.08. Deckers Outdoor has a twelve month low of $125.15 and a twelve month high of $218.92. The company has a fifty day simple moving average of $203.00 and a 200 day simple moving average of $129.71.

Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings data 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. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.20 billion. Deckers Outdoor had a net margin of 18.95% and a return on equity of 41.48%. Deckers Outdoor’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period last year, the firm posted $1.14 EPS. On average, analysts forecast that Deckers Outdoor will post 5.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Deckers Outdoor

In other news, insider Thomas Garcia sold 18,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $175.28, for a total transaction of $3,155,040.00. Following the completion of the transaction, the insider now directly owns 63,642 shares in the company, valued at $11,155,169.76. This trade represents a 22.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Angela Ogbechie sold 1,278 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was 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 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 valued at $13,715,482 in the last ninety days. Corporate insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Deckers Outdoor

Several hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in shares of Deckers Outdoor by 929.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker’s stock valued at $206,790,000 after acquiring an additional 1,170,855 shares during the period. City Center Advisors LLC acquired a new position in Deckers Outdoor in the 4th quarter worth $575,000. B. Riley Wealth Advisors Inc. raised its stake in shares of Deckers Outdoor by 506.7% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 6,674 shares of the textile maker’s stock valued at $1,060,000 after purchasing an additional 5,574 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Deckers Outdoor by 512.9% in the 3rd quarter. Principal Financial Group Inc. now owns 397,434 shares of the textile maker’s stock valued at $63,371,000 after purchasing an additional 332,590 shares in the last quarter. Finally, Cadent Capital Advisors LLC raised its stake in Deckers Outdoor by 116.8% during the fourth quarter. Cadent Capital Advisors LLC now owns 6,479 shares of the textile maker’s stock worth $1,316,000 after acquiring an additional 3,491 shares during the period. Hedge funds and other 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, apparel, and accessories for ultra-runners and athletes under the HOKA brand name; and sandals, shoes, and boots under the Teva brand name.