Deckers Outdoor (NYSE:DECK) Sets New 1-Year High After Analyst Upgrade

Deckers Outdoor Co. (NYSE:DECK) hit a new 52-week high during trading on Wednesday after Jefferies Financial Group raised their price target on the stock from $180.00 to $200.00. Jefferies Financial Group currently has a hold rating on the stock. Deckers Outdoor traded as high as $219.82 and last traded at $218.72, with a volume of 211600 shares trading hands. The stock had previously closed at $215.92.

A number of other equities research analysts also recently issued reports on DECK. KeyCorp increased their price objective on Deckers Outdoor from $213.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Seaport Res Ptn lowered Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 7th. Piper Sandler set a $166.00 price target on shares of Deckers Outdoor in a report on Thursday, October 17th. Stifel Nicolaus increased their price objective on Deckers Outdoor from $147.83 to $181.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Finally, Robert W. Baird lifted their target price on shares of Deckers Outdoor from $195.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $192.58.

Insider Buying and Selling

In related news, Director Maha Saleh Ibrahim sold 300 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $200.80, for a total value of $60,240.00. Following the completion of the transaction, the director now directly owns 10,222 shares of the company’s stock, valued at $2,052,577.60. This trade represents a 2.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Thomas Garcia sold 18,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 63,642 shares of the company’s stock, valued at $11,155,169.76. This trade represents a 22.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,758 shares of company stock worth $13,506,861 in the last three months. 0.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its holdings in 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 buying an additional 1,170,855 shares in the last quarter. City Center Advisors LLC acquired a new stake in Deckers Outdoor in the 4th quarter valued at about $575,000. B. Riley Wealth Advisors Inc. lifted its position in Deckers Outdoor by 506.7% during the third quarter. B. Riley Wealth Advisors Inc. now owns 6,674 shares of the textile maker’s stock worth $1,060,000 after buying an additional 5,574 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Deckers Outdoor by 512.9% during the 3rd quarter. Principal Financial Group Inc. now owns 397,434 shares of the textile maker’s stock valued at $63,371,000 after acquiring an additional 332,590 shares during the last quarter. Finally, Cadent Capital Advisors LLC grew its stake in shares of Deckers Outdoor by 116.8% in the 4th quarter. Cadent Capital Advisors LLC now owns 6,479 shares of the textile maker’s stock valued at $1,316,000 after buying an additional 3,491 shares during the period. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Deckers Outdoor Stock Up 1.9 %

The firm has a 50-day moving average of $206.19 and a two-hundred day moving average of $135.05. The company has a market capitalization of $33.88 billion, a PE ratio of 39.22, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08.

Deckers Outdoor (NYSE:DECK) last released its quarterly earnings results on Thursday, January 30th. The textile maker reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.56. Deckers Outdoor had a return on equity of 41.48% and a net margin of 18.95%. On average, equities research analysts expect that Deckers Outdoor Co. will post 5.56 EPS for the current year.

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.