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

Shares of Deckers Outdoor Co. (NYSE:DECK) gapped up prior to trading on Friday following a stronger than expected earnings report. 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, beating analysts’ consensus estimates of $1.22 by $0.37. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the company earned $1.14 earnings per share.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Piper Sandler set a $166.00 price objective on shares of Deckers Outdoor in a research report on Thursday, October 17th. Barclays upped their price objective on shares of Deckers Outdoor from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Friday. Telsey Advisory Group upped their price objective on shares of Deckers Outdoor from $183.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday. BTIG Research downgraded shares of Deckers Outdoor from a “buy” rating to a “neutral” rating in a research report on Tuesday. Finally, TD Cowen upped their price objective on shares of Deckers Outdoor from $178.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $149.50.

Insider Activity at Deckers Outdoor

In related news, Director David Powers sold 140,832 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 2,450,808 shares in the company, valued at approximately $58,756,760.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, 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 that occurred 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 sale, the director now directly owns 2,450,808 shares in the company, valued at approximately $58,756,760.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 shares were sold at an average price of $166.67, for a total transaction of $1,533,030.66. Following the sale, the chief financial officer now owns 161,838 shares in the company, valued at $26,973,539.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Deckers Outdoor

Institutional investors and hedge funds have recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. lifted its stake in 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 purchasing an additional 23 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of Deckers Outdoor by 2,000.0% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 210 shares of the textile maker’s stock worth $32,000 after buying an additional 200 shares during the last quarter. Crewe Advisors LLC bought a new position in shares of Deckers Outdoor in the 2nd quarter worth $34,000. GHP Investment Advisors Inc. bought a new position in shares of Deckers Outdoor in the 3rd quarter worth $36,000. Finally, Salomon & Ludwin LLC increased its holdings in shares of Deckers Outdoor by 500.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 246 shares of the textile maker’s stock worth $39,000 after buying an additional 205 shares during the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Deckers Outdoor Trading Up 10.6 %

The stock’s fifty day moving average price is $105.11 and its 200 day moving average price is $53.18. The stock has a market cap of $4.28 billion, a P/E ratio of 5.74, a price-to-earnings-growth ratio of 2.85 and a beta of 1.05.

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.