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

Deckers Outdoor Co. (NYSE:DECK)’s stock price 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 traded.

A number of other research analysts also recently commented on the company. Bank of America increased their target price on Deckers Outdoor from $23.89 to $28.33 and gave the company a “neutral” rating in a research report on Friday, May 24th. Wells Fargo & Company increased their price objective on shares of Deckers Outdoor from $21.53 to $27.78 and gave the company an “equal weight” rating in a research report on Friday, May 24th. Truist Financial boosted their target price on shares of Deckers Outdoor from $33.33 to $34.03 and gave the stock a “buy” rating in a report on Friday, July 26th. UBS Group increased their price target on shares of Deckers Outdoor from $35.14 to $37.50 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, TD Cowen boosted their price objective on Deckers Outdoor from $28.86 to $29.31 and gave the stock a “buy” rating in a research note on Friday, July 26th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $46.42.

Insiders Place Their Bets

In other news, Director David Powers sold 140,832 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $23.97, for a total transaction of $3,376,368.96. Following the completion of the sale, the director now directly owns 2,450,808 shares of the company’s stock, valued at $58,756,760.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.70% of the company’s stock.

Institutional Trading of Deckers Outdoor

Several institutional investors and hedge funds have recently modified their holdings of DECK. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Deckers Outdoor by 460.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 28 shares of the textile maker’s stock worth $27,000 after buying an additional 23 shares during the period. FinTrust Capital Advisors LLC lifted its stake in Deckers Outdoor by 437.5% in the fourth quarter. FinTrust Capital Advisors LLC now owns 43 shares of the textile maker’s stock worth $29,000 after acquiring an additional 35 shares during the period. Crewe Advisors LLC bought a new position in Deckers Outdoor during the 2nd quarter worth about $34,000. Contravisory Investment Management Inc. purchased a new position in Deckers Outdoor during the 1st quarter valued at about $36,000. Finally, EntryPoint Capital LLC raised its holdings in shares of Deckers Outdoor by 256.3% in the 1st quarter. EntryPoint Capital LLC now owns 57 shares of the textile maker’s stock valued at $54,000 after purchasing an additional 41 shares in the last quarter. Institutional investors own 97.79% of the company’s stock.

Deckers Outdoor Trading Down 0.9 %

The stock has a market cap of $3.83 billion, a PE ratio of 5.15, a PEG ratio of 2.66 and a beta of 1.05. The firm’s 50-day moving average price is $38.18 and its two-hundred day moving average price is $30.04.

Deckers Outdoor (NYSE:DECK) last announced its earnings results on Thursday, July 25th. The textile maker reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.03. The business had revenue of $825.30 million for the quarter, compared to analysts’ expectations of $808.40 million. Deckers Outdoor had a return on equity of 40.52% and a net margin of 18.45%. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 EPS. On average, analysts anticipate that Deckers Outdoor Co. will post 31.6 earnings per share for the current year.

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 and apparel for ultra-runners and athletes under the Hoka brand; and sandals, shoes, and boots under the Teva brand name.