Wells Fargo & Company Cuts Deckers Outdoor (NYSE:DECK) Price Target to $210.00

Deckers Outdoor (NYSE:DECK) had its target price cut by Wells Fargo & Company from $215.00 to $210.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an equal weight rating on the textile maker’s stock.

Several other research firms have also recently weighed in on DECK. UBS Group boosted their price target on Deckers Outdoor from $226.00 to $232.00 and gave the stock a “buy” rating in a report on Friday, October 25th. BTIG Research cut Deckers Outdoor from a “buy” rating to a “neutral” rating in a report on Tuesday, October 22nd. Barclays boosted their price target on Deckers Outdoor from $190.00 to $231.00 and gave the stock an “overweight” rating in a report on Friday. Piper Sandler set a $166.00 target price on Deckers Outdoor in a report on Thursday, October 17th. Finally, Citigroup upped their target price on Deckers Outdoor from $178.00 to $215.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $197.41.

Deckers Outdoor Trading Down 20.3 %

Shares of NYSE DECK opened at $177.85 on Friday. The company has a market cap of $27.02 billion, a price-to-earnings ratio of 31.27, a PEG ratio of 2.41 and a beta of 1.08. The stock has a 50-day moving average price of $205.90 and a two-hundred day moving average price of $137.68. Deckers Outdoor has a 12 month low of $125.15 and a 12 month high of $223.98.

Deckers Outdoor (NYSE:DECK) last released its quarterly earnings results on Thursday, February 6th. The textile maker reported $3.00 earnings per share 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%. On average, sell-side analysts predict that Deckers Outdoor will post 5.62 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Thomas Garcia sold 18,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $175.28, for a total value of $3,155,040.00. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Caroti Stefano sold 14,274 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $208.34, for a total value of $2,973,845.16. Following the completion of the transaction, the chief executive officer now owns 259,266 shares in the company, valued at approximately $54,015,478.44. This represents a 5.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,758 shares of company stock worth $13,506,861. Corporate insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Deckers Outdoor

A number of large investors have recently modified their holdings of DECK. Solstein Capital LLC lifted its stake in 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 lifted its stake in 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 bought a new position in Deckers Outdoor during the 4th quarter valued at $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in 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. lifted its stake in 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 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.