Deckers Outdoor (NYSE:DECK) Price Target Raised to $246.00

Deckers Outdoor (NYSE:DECK) had its price target boosted by Needham & Company LLC from $226.00 to $246.00 in a report issued on Monday,Benzinga reports. Needham & Company LLC currently has a buy rating on the textile maker’s stock.

Several other research analysts have also recently weighed in on DECK. Seaport Res Ptn downgraded Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a report on Monday, October 7th. TD Cowen boosted their target price on shares of Deckers Outdoor from $178.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Truist Financial raised their price target on shares of Deckers Outdoor from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. StockNews.com downgraded shares of Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 25th. Finally, Evercore ISI raised their target price on Deckers Outdoor from $185.00 to $195.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.76.

Deckers Outdoor Price Performance

DECK stock opened at $207.84 on Monday. The firm’s fifty day simple moving average is $192.60 and its 200-day simple moving average is $114.36. Deckers Outdoor has a 12 month low of $114.11 and a 12 month high of $214.70. The company has a market capitalization of $31.58 billion, a P/E ratio of 36.55, a price-to-earnings-growth ratio of 2.87 and a beta of 1.08.

Deckers Outdoor (NYSE:DECK) last posted its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.59 EPS for the quarter, beating the consensus estimate of $1.24 by $0.35. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.20 billion. Deckers Outdoor had a net margin of 18.95% and a return on equity of 41.48%. The firm’s revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.14 earnings per share. As a group, sell-side analysts forecast that Deckers Outdoor will post 5.49 earnings per share for the current year.

Insider Activity at Deckers Outdoor

In other news, CFO Steven J. Fasching sold 8,802 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $175.00, for a total value of $1,540,350.00. Following the completion of the sale, the chief financial officer now directly owns 153,036 shares in the company, valued at $26,781,300. This represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Angela Ogbechie sold 1,278 shares of Deckers Outdoor stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $163.24, for a total value of $208,620.72. Following the transaction, the insider now owns 29,628 shares in the company, valued at approximately $4,836,474.72. The trade was a 4.14 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,036 shares of company stock valued at $13,715,482. 0.40% of the stock is owned by insiders.

Institutional Trading of Deckers Outdoor

Several large investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in shares of Deckers Outdoor by 499.2% during the 3rd quarter. FMR LLC now owns 22,869,485 shares of the textile maker’s stock valued at $3,646,539,000 after acquiring an additional 19,053,113 shares during the last quarter. State Street Corp raised its stake in Deckers Outdoor by 513.8% during the third quarter. State Street Corp now owns 6,584,305 shares of the textile maker’s stock worth $1,049,867,000 after purchasing an additional 5,511,513 shares during the period. Geode Capital Management LLC boosted its holdings in Deckers Outdoor by 509.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,059,919 shares of the textile maker’s stock valued at $646,316,000 after purchasing an additional 3,393,420 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Deckers Outdoor by 929.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker’s stock valued at $206,790,000 after buying an additional 1,170,855 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Deckers Outdoor by 529.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,277,355 shares of the textile maker’s stock worth $203,674,000 after buying an additional 1,074,263 shares during the last quarter. 97.79% of the stock is currently owned by hedge funds and other 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.