Cantor Fitzgerald Initiates Coverage on Deckers Outdoor (NYSE:DECK)

Key Points

• Cantor Fitzgerald initiated coverage of Deckers Outdoor with a “neutral” rating and an $89 price target, implying 1.86% downside from the prior close.
• Analyst opinions are mixed: the consensus rating is “Hold,” with an average price target of $103.86; 10 analysts rate the stock Buy, 12 Hold, and 4 Sell.
• Deckers reported quarterly earnings of $2.31 per share, beating estimates of $1.79, while revenue of $1.48 billion came in below expectations of $1.51 billion.

Stock analysts at Cantor Fitzgerald began coverage on shares of Deckers Outdoor (NYSE:DECK - Get Free Report) in a report released on Tuesday, MarketBeat.com reports. The firm set a "neutral" rating and a $89.00 price target on the textile maker's stock. Cantor Fitzgerald's price target suggests a potential downside of 1.86% from the company's previous close.

A number of other equities analysts also recently issued reports on the stock. UBS Group set a $137.00 price target on shares of Deckers Outdoor and gave the company a "buy" rating in a report on Friday, October 23rd. Telsey Advisory Group reissued a "market perform" rating and set a $90.00 price objective (down from $105.00) on shares of Deckers Outdoor in a report on Friday, October 23rd. Robert W. Baird set a $95.00 price objective on shares of Deckers Outdoor in a report on Friday, October 23rd. Truist Financial set a $95.00 target price on shares of Deckers Outdoor and gave the stock a "buy" rating in a research report on Friday, October 23rd. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of Deckers Outdoor in a report on Friday, July 24th. Ten analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $103.86.

Deckers Outdoor Trading Up 4.6%

Shares of DECK opened at $90.69 on Tuesday. The stock's 50 day moving average is $82.40 and its two-hundred day moving average is $98.85. Deckers Outdoor has a twelve month low of $77.20 and a twelve month high of $122.29. The firm has a market capitalization of $12.10 billion, a PE ratio of 12.27, a P/E/G ratio of 1.43 and a beta of 1.10.

Deckers Outdoor (NYSE:DECK - Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The textile maker reported $2.31 EPS for the quarter, beating the consensus estimate of $1.79 by $0.52. Deckers Outdoor had a return on equity of 42.42% and a net margin of 19.18%. The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.51 billion. During the same period last year, the firm earned $1.82 EPS. The company's quarterly revenue was up 3.4% compared to the same quarter last year. On average, sell-side analysts predict that Deckers Outdoor will post 7.89 EPS for the current year.

Institutional Investors Weigh In On Deckers Outdoor

A number of large investors have recently added to or reduced their stakes in DECK. Orion Capital Management LLC purchased a new position in shares of Deckers Outdoor during the 2nd quarter worth approximately $30,000. Pension & Wealth Management Advisors Inc. acquired a new stake in Deckers Outdoor during the 3rd quarter valued at $31,000. Gen Wealth Partners Inc acquired a new stake in Deckers Outdoor during the 3rd quarter valued at $31,000. Continuum Advisory LLC acquired a new stake in Deckers Outdoor during the 2nd quarter valued at $38,000. Finally, Heritage Family Offices LLP purchased a new position in Deckers Outdoor during the third quarter worth $38,000. 97.79% of the stock is owned by institutional investors and hedge funds.

Deckers Outdoor Company Profile

Deckers Outdoor Corporation designs, markets and distributes footwear, apparel and accessories through a portfolio of consumer brands. Its best-known brands include UGG, HOKA and Teva, which serve customers seeking products for lifestyle, performance and outdoor use.

Founded in 1973 in California, Deckers began as a maker of sandals. The company now sells its products worldwide through wholesale partners as well as its own retail stores and e-commerce channels, serving markets across the Americas, Europe, the Middle East and Africa, and Asia-Pacific.

Deckers is headquartered in Goleta, California.

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