Deckers Outdoor (NYSE:DECK) Stock Price Expected to Rise, Truist Financial Analyst Says

Deckers Outdoor (NYSE:DECK) had its price target hoisted by investment analysts at Truist Financial from $230.00 to $235.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the textile maker’s stock. Truist Financial’s price target would suggest a potential upside of 13.19% from the stock’s previous close.

Several other equities analysts also recently issued reports on DECK. Telsey Advisory Group raised their price target on shares of Deckers Outdoor from $183.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Seaport Res Ptn downgraded Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a report on Monday, October 7th. Guggenheim started coverage on Deckers Outdoor in a report on Wednesday, October 9th. They set a “neutral” rating on the stock. KeyCorp increased their price target on Deckers Outdoor from $190.00 to $213.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, Needham & Company LLC raised their price objective on Deckers Outdoor from $226.00 to $246.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.06.

Deckers Outdoor Price Performance

Shares of NYSE DECK traded up $3.88 during mid-day trading on Thursday, hitting $207.61. 84,396 shares of the stock traded hands, compared to its average volume of 1,538,316. The company has a market cap of $31.54 billion, a PE ratio of 36.51, a price-to-earnings-growth ratio of 2.89 and a beta of 1.08. Deckers Outdoor has a twelve month low of $118.85 and a twelve month high of $214.70. The firm has a 50 day simple moving average of $197.77 and a two-hundred day simple moving average of $121.26.

Deckers Outdoor (NYSE:DECK) last released its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.35. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Deckers Outdoor had a return on equity of 41.48% and a net margin of 18.95%. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.14 earnings per share. On average, equities research analysts anticipate that Deckers Outdoor will post 5.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Deckers Outdoor news, insider Thomas Garcia sold 18,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $175.28, for a total value of $3,155,040.00. Following the transaction, the insider now owns 63,642 shares in the company, valued at approximately $11,155,169.76. This represents a 22.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Caroti Stefano sold 14,274 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $208.34, for a total value of $2,973,845.16. Following the completion of the transaction, the chief executive officer now owns 259,266 shares in the company, valued at approximately $54,015,478.44. The trade was a 5.22 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,036 shares of company stock worth $13,715,482. 0.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in Deckers Outdoor by 499.2% in the third quarter. FMR LLC now owns 22,869,485 shares of the textile maker’s stock worth $3,646,539,000 after acquiring an additional 19,053,113 shares in the last quarter. State Street Corp boosted its holdings in Deckers Outdoor by 513.8% in the third quarter. State Street Corp now owns 6,584,305 shares of the textile maker’s stock worth $1,049,867,000 after acquiring an additional 5,511,513 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Deckers Outdoor by 509.1% in the third 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 in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Deckers Outdoor by 929.0% in the third quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker’s stock valued at $206,790,000 after purchasing an additional 1,170,855 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Deckers Outdoor by 529.0% in the third 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 valued at $203,674,000 after purchasing an additional 1,074,263 shares in the last quarter. Institutional investors own 97.79% of the company’s stock.

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.