Bank of America Raises Deckers Outdoor (NYSE:DECK) Price Target to $182.00

by · The Cerbat Gem

Deckers Outdoor (NYSE:DECK – Free Report) had its price target raised by Bank of America from $170.00 to $182.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has a neutral rating on the textile maker’s stock.

DECK has been the subject of several other reports. Robert W. Baird lifted their target price on Deckers Outdoor from $180.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday. Piper Sandler set a $166.00 price objective on Deckers Outdoor in a research report on Thursday, October 17th. Telsey Advisory Group boosted their price objective on Deckers Outdoor from $183.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday. UBS Group raised their target price on shares of Deckers Outdoor from $225.00 to $226.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, TD Cowen lifted their price target on shares of Deckers Outdoor from $176.00 to $178.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Deckers Outdoor presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.50.

Read Our Latest Stock Report on DECK

Deckers Outdoor Stock Up 10.6 %

Deckers Outdoor stock opened at $168.11 on Friday. Deckers Outdoor has a 12-month low of $80.67 and a 12-month high of $184.48. The stock has a 50-day simple moving average of $105.11 and a 200 day simple moving average of $53.60. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 5.74, a P/E/G ratio of 2.85 and a beta of 1.05.

Deckers Outdoor (NYSE:DECK – Get Free Report) last announced its earnings results on Thursday, October 24th. The textile maker reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 18.45% and a return on equity of 40.52%. Deckers Outdoor’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.14 earnings per share. As a group, sell-side analysts anticipate that Deckers Outdoor will post 5.22 EPS for the current year.

Insider Transactions at Deckers Outdoor

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

Hedge Funds Weigh In On Deckers Outdoor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Deckers Outdoor by 18.9% during the 1st quarter. Vanguard Group Inc. now owns 2,923,154 shares of the textile maker’s stock worth $2,751,448,000 after buying an additional 464,020 shares during the last quarter. AMF Tjanstepension AB raised its holdings in Deckers Outdoor by 495.7% in the 3rd quarter. AMF Tjanstepension AB now owns 952,803 shares of the textile maker’s stock valued at $151,924,000 after acquiring an additional 792,849 shares during the period. abrdn plc lifted its position in Deckers Outdoor by 568.7% during the third quarter. abrdn plc now owns 794,095 shares of the textile maker’s stock worth $126,992,000 after acquiring an additional 675,347 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in shares of Deckers Outdoor by 650.1% during 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 acquiring an additional 263,779 shares during the period. Finally, Millennium Management LLC grew its position in shares of Deckers Outdoor by 231.2% in the second 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 during the last quarter. 97.79% of the stock is owned by institutional investors.

About Deckers Outdoor

(Get Free Report)

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.

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