Needham & Company LLC Issues Positive Forecast for Deckers Outdoor (NYSE:DECK) Stock Price

Deckers Outdoor (NYSE:DECK) had its price objective increased by Needham & Company LLC from $226.00 to $246.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the textile maker’s stock.

A number of other research analysts also recently issued reports on DECK. Barclays raised their price target on shares of Deckers Outdoor from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. KeyCorp lifted their target price on Deckers Outdoor from $190.00 to $213.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Truist Financial increased their price target on Deckers Outdoor from $205.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Telsey Advisory Group boosted their price objective on Deckers Outdoor from $183.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Evercore ISI increased their target price on Deckers Outdoor from $185.00 to $195.00 and gave the stock 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 issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $159.76.

Deckers Outdoor Stock Performance

NYSE:DECK opened at $208.20 on Monday. The stock has a 50-day simple moving average of $191.89 and a 200 day simple moving average of $113.11. Deckers Outdoor has a one year low of $110.00 and a one year high of $214.70. The company has a market capitalization of $31.63 billion, a price-to-earnings ratio of 36.61, a price-to-earnings-growth ratio of 2.87 and a beta of 1.08.

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

Insider Activity at Deckers Outdoor

In other news, CEO Caroti Stefano sold 14,274 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $208.34, for a total transaction 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. This trade represents a 5.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Angela Ogbechie sold 1,278 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $163.24, for a total transaction of $208,620.72. Following the completion of the sale, the insider now owns 29,628 shares in the company, valued at $4,836,474.72. The trade was a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 75,036 shares of company stock worth $13,715,482 over the last quarter. 0.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DECK. National Bank of Canada FI boosted its position in shares of Deckers Outdoor by 27.0% in the 2nd quarter. National Bank of Canada FI now owns 9,618 shares of the textile maker’s stock valued at $9,100,000 after purchasing an additional 2,042 shares during the period. Private Advisor Group LLC boosted its holdings in shares of Deckers Outdoor by 152.5% in the second quarter. Private Advisor Group LLC now owns 760 shares of the textile maker’s stock worth $736,000 after buying an additional 459 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Deckers Outdoor by 2,234.5% in the second quarter. Acadian Asset Management LLC now owns 677 shares of the textile maker’s stock worth $655,000 after buying an additional 648 shares during the period. Caprock Group LLC purchased a new position in shares of Deckers Outdoor in the second quarter worth approximately $1,012,000. Finally, Emerald Advisers LLC acquired a new stake in shares of Deckers Outdoor during the second quarter valued at approximately $437,000. Institutional investors and hedge funds own 97.79% of the company’s stock.

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.