Deckers Outdoor (NYSE:DECK) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Deckers Outdoor (NYSE:DECK) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday.

Several other analysts also recently weighed in on DECK. UBS Group lifted their price target on shares of Deckers Outdoor from $35.14 to $37.50 and gave the company a buy rating in a research note on Friday, July 26th. Robert W. Baird boosted their price objective on shares of Deckers Outdoor from $29.17 to $29.86 and gave the stock an outperform rating in a research note on Friday, July 26th. Wedbush reissued an outperform rating and issued a $28.61 price objective on shares of Deckers Outdoor in a research note on Friday, July 26th. KeyCorp boosted their price objective on shares of Deckers Outdoor from $26.67 to $28.19 and gave the stock an overweight rating in a research note on Friday, May 24th. Finally, Truist Financial boosted their price objective on shares of Deckers Outdoor from $33.33 to $34.03 and gave the stock a buy rating in a research note on Friday, July 26th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Deckers Outdoor presently has an average rating of Moderate Buy and an average target price of $37.06.

Deckers Outdoor Stock Performance

Shares of Deckers Outdoor stock opened at $155.25 on Tuesday. The company has a fifty day moving average of $30.47 and a 200 day moving average of $27.41. Deckers Outdoor has a fifty-two week low of $80.67 and a fifty-two week high of $184.48. The company has a market capitalization of $3.95 billion, a P/E ratio of 5.30, a P/E/G ratio of 2.66 and a beta of 1.05.

Deckers Outdoor (NYSE:DECK) last released its quarterly earnings results on Thursday, July 25th. The textile maker reported $0.13 EPS for the quarter, topping the consensus estimate of $0.10 by $0.03. Deckers Outdoor had a return on equity of 40.52% and a net margin of 18.45%. The company had revenue of $825.30 million during the quarter, compared to analyst estimates of $808.40 million. During the same quarter last year, the business posted $0.07 earnings per share. The firm’s revenue was up 22.1% on a year-over-year basis. Analysts forecast that Deckers Outdoor will post 31.6 EPS for the current year.

Insider Buying and Selling at Deckers Outdoor

In other Deckers Outdoor news, Director David Powers sold 140,832 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $23.97, for a total value of $3,376,368.96. Following the completion of the transaction, the director now owns 2,450,808 shares in the company, valued at $58,756,760.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Deckers Outdoor by 18.9% in the 1st quarter. Vanguard Group Inc. now owns 2,923,154 shares of the textile maker’s stock valued at $2,751,448,000 after acquiring an additional 464,020 shares during the last quarter. TD Asset Management Inc lifted its holdings in Deckers Outdoor by 191.1% during the 4th quarter. TD Asset Management Inc now owns 305,949 shares of the textile maker’s stock worth $204,505,000 after buying an additional 200,850 shares in the last quarter. Norges Bank acquired a new stake in Deckers Outdoor during the 4th quarter worth approximately $196,814,000. Millennium Management LLC raised its holdings in shares of Deckers Outdoor by 231.2% in the 2nd quarter. Millennium Management LLC now owns 233,810 shares of the textile maker’s stock valued at $226,316,000 after purchasing an additional 163,210 shares in the last quarter. Finally, Epoch Investment Partners Inc. raised its holdings in shares of Deckers Outdoor by 90.4% in the 4th quarter. Epoch Investment Partners Inc. now owns 216,709 shares of the textile maker’s stock valued at $144,855,000 after purchasing an additional 102,882 shares in the last quarter. Institutional investors and hedge funds 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 and apparel for ultra-runners and athletes under the Hoka brand; and sandals, shoes, and boots under the Teva brand name.