Bank of America Lowers Deckers Outdoor (NYSE:DECK) Price Target to $128.00

Deckers Outdoor (NYSE:DECK - Get Free Report) had its price objective reduced by research analysts at Bank of America from $154.00 to $128.00 in a report released on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the textile maker's stock. Bank of America's price objective indicates a potential upside of 24.62% from the company's current price.

Other equities analysts also recently issued research reports about the company. UBS Group raised their target price on Deckers Outdoor from $158.00 to $169.00 and gave the company a "buy" rating in a research report on Friday. KeyCorp reissued a "sector weight" rating and issued a $150.00 price objective on shares of Deckers Outdoor in a research note on Friday. Evercore ISI reaffirmed an "in-line" rating and set a $110.00 target price (down previously from $235.00) on shares of Deckers Outdoor in a research note on Friday. Cowen reiterated a "buy" rating on shares of Deckers Outdoor in a research report on Tuesday. Finally, Citigroup lowered their price target on shares of Deckers Outdoor from $215.00 to $150.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $134.68.

Deckers Outdoor Price Performance

NYSE DECK traded down $23.38 on Friday, hitting $102.71. The company had a trading volume of 13,367,886 shares, compared to its average volume of 2,511,560. The company's fifty day moving average price is $114.83 and its 200-day moving average price is $158.54. The company has a market capitalization of $15.59 billion, a PE ratio of 16.65, a PEG ratio of 1.68 and a beta of 1.11. Deckers Outdoor has a 12-month low of $93.72 and a 12-month high of $223.98.

Deckers Outdoor (NYSE:DECK - Get Free Report) last announced its earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.45. Deckers Outdoor had a net margin of 19.14% and a return on equity of 41.71%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business earned $0.82 earnings per share. The company's revenue for the quarter was up 6.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Deckers Outdoor will post 5.89 EPS for the current year.

Deckers Outdoor announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 22nd that authorizes the company to buyback $2.25 billion in shares. This buyback authorization authorizes the textile maker to repurchase up to 11.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Deckers Outdoor

In related news, Director David Powers sold 25,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $138.84, for a total transaction of $3,471,000.00. Following the completion of the transaction, the director now owns 241,777 shares of the company's stock, valued at approximately $33,568,318.68. This trade represents a 9.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Maha Saleh Ibrahim sold 300 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $134.48, for a total value of $40,344.00. Following the completion of the sale, the director now directly owns 10,388 shares in the company, valued at approximately $1,396,978.24. The trade was a 2.81% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.40% of the company's stock.

Institutional Investors Weigh In On Deckers Outdoor

Several institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in Deckers Outdoor by 929.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker's stock valued at $206,790,000 after acquiring an additional 1,170,855 shares in the last quarter. Merit Financial Group LLC purchased a new position in shares of Deckers Outdoor in the fourth quarter valued at approximately $281,000. Ameritas Advisory Services LLC acquired a new position in shares of Deckers Outdoor in the fourth quarter valued at approximately $294,000. Atomi Financial Group Inc. increased its stake in Deckers Outdoor by 6.5% during the 4th quarter. Atomi Financial Group Inc. now owns 1,345 shares of the textile maker's stock worth $273,000 after buying an additional 82 shares during the period. Finally, Mutual Advisors LLC lifted its holdings in Deckers Outdoor by 5.2% during the 4th quarter. Mutual Advisors LLC now owns 2,296 shares of the textile maker's stock worth $478,000 after buying an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company's stock.

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.

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