Deckers Outdoor (NYSE:DECK) Shares Gap Down Following Analyst Downgrade

Deckers Outdoor Co. (NYSE:DECK)’s share price gapped down before the market opened on Friday after Truist Financial lowered their price target on the stock from $235.00 to $225.00. The stock had previously closed at $223.11, but opened at $196.10. Truist Financial currently has a buy rating on the stock. Deckers Outdoor shares last traded at $188.97, with a volume of 2,316,301 shares changing hands.

Several other equities analysts have also commented on DECK. Bank of America increased their price objective on Deckers Outdoor from $182.00 to $217.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Seaport Res Ptn lowered Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 7th. UBS Group raised their price target on Deckers Outdoor from $226.00 to $232.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. KeyCorp raised their price target on Deckers Outdoor from $213.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Finally, Needham & Company LLC restated a “buy” rating and set a $246.00 price target on shares of Deckers Outdoor in a research report on Friday. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $197.41.

Insider Activity

In other Deckers Outdoor news, Director Maha Saleh Ibrahim sold 300 shares of Deckers Outdoor stock in a transaction on Friday, December 6th. The stock was sold at an average price of $200.80, for a total transaction of $60,240.00. Following the completion of the transaction, the director now owns 10,222 shares in the company, valued at approximately $2,052,577.60. The trade was a 2.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Caroti Stefano sold 14,274 shares of Deckers Outdoor stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $208.34, for a total value of $2,973,845.16. Following the transaction, the chief executive officer now owns 259,266 shares of the company’s stock, valued at $54,015,478.44. The trade was a 5.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,758 shares of company stock worth $13,506,861 in the last quarter. 0.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Algert Global LLC raised its stake in shares of Deckers Outdoor by 23.0% in the second quarter. Algert Global LLC now owns 428 shares of the textile maker’s stock worth $414,000 after purchasing an additional 80 shares during the last quarter. Creative Planning raised its stake in shares of Deckers Outdoor by 10.6% in the second quarter. Creative Planning now owns 5,079 shares of the textile maker’s stock worth $4,916,000 after purchasing an additional 488 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Deckers Outdoor by 2.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 918 shares of the textile maker’s stock worth $889,000 after purchasing an additional 23 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Deckers Outdoor by 20.6% in the second quarter. Cetera Investment Advisers now owns 6,119 shares of the textile maker’s stock worth $5,923,000 after purchasing an additional 1,044 shares during the last quarter. Finally, Clearbridge Investments LLC purchased a new position in shares of Deckers Outdoor in the second quarter worth $1,381,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Deckers Outdoor Price Performance

The company has a 50 day moving average price of $205.90 and a two-hundred day moving average price of $136.11. The stock has a market cap of $27.02 billion, a PE ratio of 31.27, a PEG ratio of 2.41 and a beta of 1.08.

Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings data on Thursday, February 6th. The textile maker reported $3.00 EPS for the quarter, topping the consensus estimate of $2.44 by $0.56. Deckers Outdoor had a return on equity of 41.48% and a net margin of 18.95%. As a group, equities analysts predict that Deckers Outdoor Co. will post 5.62 earnings per share for the current fiscal year.

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