Deckers Outdoor (NYSE:DECK) Reaches New 12-Month Low Following Insider Selling

Deckers Outdoor Co. (NYSE:DECK) hit a new 52-week low during mid-day trading on Monday following insider selling activity. The stock traded as low as $122.02 and last traded at $123.68, with a volume of 249267 shares. The stock had previously closed at $126.72.

Specifically, Director Maha Saleh Ibrahim sold 300 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $134.48, for a total value of $40,344.00. Following the transaction, the director now directly owns 10,388 shares of the company’s stock, valued at approximately $1,396,978.24. The trade was a 2.81 % 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.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Evercore ISI lifted their price objective on shares of Deckers Outdoor from $195.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, January 9th. Bank of America lifted their price target on shares of Deckers Outdoor from $182.00 to $217.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Truist Financial cut their price objective on shares of Deckers Outdoor from $235.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $240.00 target price on shares of Deckers Outdoor in a research report on Friday, January 31st. Finally, Wells Fargo & Company dropped their price target on Deckers Outdoor from $215.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Deckers Outdoor presently has an average rating of “Moderate Buy” and an average target price of $197.41.

Deckers Outdoor Stock Performance

The firm has a market capitalization of $18.39 billion, a P/E ratio of 19.65, a PEG ratio of 1.68 and a beta of 1.10. The firm has a 50 day simple moving average of $178.06 and a two-hundred day simple moving average of $160.49.

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, beating analysts’ consensus estimates of $2.44 by $0.56. Deckers Outdoor had a net margin of 19.14% and a return on equity of 41.71%. Sell-side analysts anticipate that Deckers Outdoor Co. will post 5.89 earnings per share for the current year.

Hedge Funds Weigh In On Deckers Outdoor

Several institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its position in Deckers Outdoor by 109.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 449,683 shares of the textile maker’s stock worth $91,965,000 after purchasing an additional 235,091 shares during the last quarter. Navellier & Associates Inc. boosted its holdings in shares of Deckers Outdoor by 6.4% in the 4th quarter. Navellier & Associates Inc. now owns 29,806 shares of the textile maker’s stock worth $6,053,000 after buying an additional 1,791 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in Deckers Outdoor by 62.6% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 6,928 shares of the textile maker’s stock valued at $1,407,000 after buying an additional 2,668 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Deckers Outdoor by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,001,033 shares of the textile maker’s stock worth $203,300,000 after buying an additional 32,318 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Deckers Outdoor by 25.7% in the fourth quarter. Principal Financial Group Inc. now owns 499,568 shares of the textile maker’s stock worth $101,457,000 after acquiring an additional 102,134 shares during the period. 97.79% of the stock is 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.