Deckers Outdoor (NYSE:DECK) Coverage Initiated by Analysts at Needham & Company LLC

Needham & Company LLC began coverage on shares of Deckers Outdoor (NYSE:DECK) in a research note issued to investors on Friday, Marketbeat.com reports. The firm issued a buy rating and a $218.00 price target on the textile maker’s stock.

Other research analysts have also recently issued research reports about the stock. Piper Sandler set a $166.00 target price on shares of Deckers Outdoor in a research report on Thursday, October 17th. Robert W. Baird increased their price objective on Deckers Outdoor from $180.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. UBS Group lifted their target price on Deckers Outdoor from $226.00 to $232.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Truist Financial boosted their price target on Deckers Outdoor from $204.17 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Telsey Advisory Group raised their price target on Deckers Outdoor from $183.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $153.53.

Deckers Outdoor Trading Up 5.6 %

Shares of NYSE DECK opened at $192.15 on Friday. Deckers Outdoor has a 12-month low of $105.10 and a 12-month high of $193.33. The company has a market cap of $29.19 billion, a price-to-earnings ratio of 33.79, a price-to-earnings-growth ratio of 2.55 and a beta of 1.05. The stock’s 50 day simple moving average is $160.53 and its 200 day simple moving average is $72.80.

Deckers Outdoor (NYSE:DECK) last posted its earnings results on Thursday, October 24th. The textile maker reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.35. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Deckers Outdoor had a return on equity of 41.48% and a net margin of 18.95%. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period last year, the business posted $1.14 earnings per share. As a group, equities analysts forecast that Deckers Outdoor will post 5.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 value of $3,376,368.96. Following the completion of the sale, the director now owns 2,450,808 shares in the company, valued at approximately $58,756,760.24. This represents a 5.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Caroti Stefano sold 15,000 shares of Deckers Outdoor stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $175.73, for a total transaction of $2,635,950.00. Following the transaction, the chief executive officer now owns 273,540 shares in the company, valued at approximately $48,069,184.20. The trade was a 5.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 202,110 shares of company stock worth $14,028,140. 0.40% of the stock is owned by insiders.

Institutional Trading of Deckers Outdoor

Hedge funds and other institutional investors have recently modified their holdings of the business. Anchor Investment Management LLC lifted its position in shares of Deckers Outdoor by 500.0% in the third quarter. Anchor Investment Management LLC now owns 504 shares of the textile maker’s stock worth $80,000 after purchasing an additional 420 shares in the last quarter. Passumpsic Savings Bank increased its stake in Deckers Outdoor by 477.8% in the 3rd quarter. Passumpsic Savings Bank now owns 27,296 shares of the textile maker’s stock valued at $4,352,000 after buying an additional 22,572 shares during the period. TD Private Client Wealth LLC lifted its position in Deckers Outdoor by 447.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 953 shares of the textile maker’s stock worth $152,000 after buying an additional 779 shares in the last quarter. Arete Wealth Advisors LLC lifted its position in Deckers Outdoor by 589.1% in the 3rd quarter. Arete Wealth Advisors LLC now owns 3,556 shares of the textile maker’s stock worth $563,000 after buying an additional 3,040 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in shares of Deckers Outdoor by 466.1% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 14,089 shares of the textile maker’s stock valued at $2,246,000 after buying an additional 11,600 shares during the period. 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.