Deckers Outdoor (NYSE:DECK) Stock Price Target Cut by Argus

Key Points

• Argus cut its Deckers Outdoor price target from $128 to $102 but maintained a Buy rating, implying 14.85% upside from the previous close.
• Analyst sentiment is mixed: the consensus rating is Hold, with an average price target of $104.57; 10 analysts rate the stock Buy, 11 Hold, and four Sell.
• Deckers beat quarterly EPS estimates, reporting $2.31 versus $1.79 expected, while revenue of $1.48 billion came in below forecasts of $1.51 billion.

Deckers Outdoor (NYSE:DECK - Get Free Report) had its price target dropped by Argus from $128.00 to $102.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a "buy" rating on the textile maker's stock. Argus's price objective points to a potential upside of 14.85% from the company's previous close.

Several other research firms have also commented on DECK. Evercore reduced their target price on shares of Deckers Outdoor from $108.00 to $90.00 in a report on Friday, October 23rd. Telsey Advisory Group restated a "market perform" rating and set a $90.00 price target (down from $105.00) on shares of Deckers Outdoor in a research report on Friday, October 23rd. BNP Paribas Exane reduced their price objective on Deckers Outdoor from $184.00 to $122.00 and set an "outperform" rating on the stock in a research note on Friday, October 23rd. KeyCorp reiterated a "sector weight" rating on shares of Deckers Outdoor in a report on Friday, July 24th. Finally, Stifel Nicolaus lowered their target price on Deckers Outdoor from $133.00 to $113.00 and set a "buy" rating for the company in a research note on Friday, October 23rd. Ten equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $104.57.

Deckers Outdoor Stock Performance

NYSE:DECK traded down $0.30 during mid-day trading on Thursday, reaching $88.81. The stock had a trading volume of 384,530 shares, compared to its average volume of 2,575,281. The firm has a 50 day moving average price of $82.37 and a two-hundred day moving average price of $99.03. The stock has a market capitalization of $11.85 billion, a P/E ratio of 11.79, a P/E/G ratio of 1.35 and a beta of 1.10. Deckers Outdoor has a one year low of $77.20 and a one year high of $122.29.

Deckers Outdoor (NYSE:DECK - Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The textile maker reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $0.52. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.51 billion. Deckers Outdoor had a net margin of 19.18% and a return on equity of 42.42%. The business's quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the business earned $1.82 earnings per share. Research analysts forecast that Deckers Outdoor will post 7.90 earnings per share for the current year.

Institutional Trading of Deckers Outdoor

Institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Deckers Outdoor during the second quarter valued at approximately $1,343,613,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Deckers Outdoor by 21.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,116,595 shares of the textile maker's stock worth $210,157,000 after purchasing an additional 374,923 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Deckers Outdoor by 123.2% in the first quarter. Bank of New York Mellon Corp now owns 1,803,021 shares of the textile maker's stock worth $180,464,000 after purchasing an additional 995,099 shares during the last quarter. Amundi grew its position in Deckers Outdoor by 13.2% in the 1st quarter. Amundi now owns 1,611,174 shares of the textile maker's stock worth $161,262,000 after purchasing an additional 187,702 shares during the period. Finally, Caisse de depot et placement du Quebec bought a new stake in Deckers Outdoor in the 2nd quarter worth approximately $119,656,000. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Deckers Outdoor Company Profile

Deckers Outdoor Corporation, doing business as Deckers Brands NYSE: DECK, is a global footwear, apparel and accessories company. Its portfolio includes UGG, known for sheepskin and casual footwear; HOKA, which focuses on performance and running shoes; Teva, which offers outdoor and sport sandals and footwear; and Koolaburra by UGG, a lifestyle footwear brand.

The company sells its products through department and specialty stores, independent retailers, international distributors, company-owned retail stores and e-commerce websites.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.