Deckers Outdoor (NYSE:DECK) Shares Gap Up After Better-Than-Expected Earnings

Deckers Outdoor Co. (NYSE:DECK) shares gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $152.04, but opened at $169.95. Deckers Outdoor shares last traded at $170.24, with a volume of 2,447,556 shares trading hands.

The textile maker reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.37. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.20 billion. Deckers Outdoor had a net margin of 18.45% and a return on equity of 40.52%. The business’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.14 EPS.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DECK. TD Cowen increased their price target on shares of Deckers Outdoor from $178.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday. StockNews.com downgraded shares of Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Barclays increased their price objective on shares of Deckers Outdoor from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday. Truist Financial increased their price objective on shares of Deckers Outdoor from $204.17 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Seaport Res Ptn downgraded shares of Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 7th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Deckers Outdoor presently has a consensus rating of “Moderate Buy” and an average price target of $149.50.

Insider Activity

In related news, CFO Steven J. Fasching sold 9,198 shares of Deckers Outdoor stock in a transaction on Friday, October 4th. The shares were sold at an average price of $166.67, for a total transaction of $1,533,030.66. Following the completion of the transaction, the chief financial officer now owns 161,838 shares of the company’s stock, valued at $26,973,539.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Steven J. Fasching sold 9,198 shares of Deckers Outdoor stock in a transaction on Friday, October 4th. The shares were sold at an average price of $166.67, for a total transaction of $1,533,030.66. Following the completion of the transaction, the chief financial officer now owns 161,838 shares of the company’s stock, valued at $26,973,539.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Powers sold 140,832 shares of Deckers Outdoor stock in a transaction on Friday, September 6th. The stock was sold at an average price of $23.97, for a total transaction of $3,376,368.96. Following the transaction, the director now directly owns 2,450,808 shares of the company’s stock, valued at $58,756,760.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Deckers Outdoor

A number of large investors have recently bought and sold shares of DECK. AMF Tjanstepension AB grew its holdings in Deckers Outdoor by 495.7% in the third quarter. AMF Tjanstepension AB now owns 952,803 shares of the textile maker’s stock worth $151,924,000 after purchasing an additional 792,849 shares during the period. abrdn plc grew its holdings in Deckers Outdoor by 568.7% in the third quarter. abrdn plc now owns 794,095 shares of the textile maker’s stock worth $126,992,000 after purchasing an additional 675,347 shares during the period. Vanguard Group Inc. grew its holdings in Deckers Outdoor by 18.9% in the first quarter. Vanguard Group Inc. now owns 2,923,154 shares of the textile maker’s stock worth $2,751,448,000 after purchasing an additional 464,020 shares during the period. Wedge Capital Management L L P NC grew its holdings in Deckers Outdoor by 650.1% in the third quarter. Wedge Capital Management L L P NC now owns 304,354 shares of the textile maker’s stock worth $48,529,000 after purchasing an additional 263,779 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Deckers Outdoor by 663.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 214,592 shares of the textile maker’s stock worth $34,217,000 after purchasing an additional 186,483 shares during the period. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Deckers Outdoor Price Performance

The firm has a market capitalization of $4.28 billion, a price-to-earnings ratio of 5.74, a PEG ratio of 2.85 and a beta of 1.05. The business’s fifty day simple moving average is $105.11 and its 200 day simple moving average is $53.18.

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.