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

Deckers Outdoor Co. (NYSE:DECK) gapped down prior to trading on Friday after Barclays lowered their price target on the stock from $1,090.00 to $180.00. The stock had previously closed at $152.11, but opened at $147.98. Barclays currently has an overweight rating on the stock. Deckers Outdoor shares last traded at $150.66, with a volume of 295,743 shares trading hands.

Other equities research analysts have also recently issued reports about the stock. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $30.56 target price on shares of Deckers Outdoor in a report on Friday, July 26th. TD Cowen increased their price target on shares of Deckers Outdoor from $28.86 to $29.31 and gave the stock a “buy” rating in a report on Friday, July 26th. Evercore ISI cut their price target on shares of Deckers Outdoor from $30.83 to $30.56 and set an “outperform” rating for the company in a report on Monday, July 15th. Wells Fargo & Company increased their price target on shares of Deckers Outdoor from $21.53 to $27.78 and gave the stock an “equal weight” rating in a report on Friday, May 24th. Finally, Robert W. Baird increased their price target on shares of Deckers Outdoor from $29.17 to $29.86 and gave the stock an “outperform” rating in a report on Friday, July 26th. Five research 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, Deckers Outdoor currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.42.

Insider Activity

In other news, Director David Powers sold 140,832 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 2,450,808 shares in the company, valued at $58,756,760.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.70% of the company’s stock.

Institutional Trading of Deckers Outdoor

Several large investors have recently modified their holdings of DECK. Chevy Chase Trust Holdings LLC boosted its position in Deckers Outdoor by 285.2% during the first quarter. Chevy Chase Trust Holdings LLC now owns 17,853 shares of the textile maker’s stock worth $16,804,000 after acquiring an additional 13,218 shares during the last quarter. Cim LLC acquired a new stake in Deckers Outdoor during the fourth quarter worth approximately $2,311,000. Artisan Partners Limited Partnership boosted its position in Deckers Outdoor by 7.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 152,626 shares of the textile maker’s stock worth $102,020,000 after acquiring an additional 11,159 shares during the last quarter. Monument Capital Management boosted its position in Deckers Outdoor by 39.7% during the first quarter. Monument Capital Management now owns 3,030 shares of the textile maker’s stock worth $2,852,000 after acquiring an additional 861 shares during the last quarter. Finally, Leo Wealth LLC acquired a new stake in Deckers Outdoor during the fourth quarter worth approximately $1,344,000. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Deckers Outdoor Price Performance

The stock’s 50-day moving average is $35.66 and its 200-day moving average is $29.17. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 5.11, a price-to-earnings-growth ratio of 2.66 and a beta of 1.05.

Deckers Outdoor (NYSE:DECK) last posted its quarterly earnings results on Thursday, July 25th. The textile maker reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The company had revenue of $825.30 million for the quarter, compared to the consensus estimate of $808.40 million. Deckers Outdoor had a net margin of 18.45% and a return on equity of 40.52%. Deckers Outdoor’s revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.07 earnings per share. Analysts predict that Deckers Outdoor Co. will post 31.6 EPS 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 and apparel for ultra-runners and athletes under the Hoka brand; and sandals, shoes, and boots under the Teva brand name.