Deckers Outdoor (NYSE:DECK) Price Target Raised to $134.00

Key Points

• Barclays has raised its price target for Deckers Outdoor (NYSE:DECK) from $128.00 to $134.00, indicating a potential upside of 13.24% from the current stock price.
• The company reported $0.93 earnings per share for the last quarter, exceeding analysts' expectations of $0.68, with a net margin of 19.49% and revenue of $964.54 million.
• Deckers Outdoor has initiated a $2.25 billion share buyback plan, reflecting management's belief that its shares are currently undervalued.
• Analysts have mixed ratings for Deckers Outdoor, with one sell rating, fourteen hold ratings, ten buy ratings, and one strong buy rating.

Deckers Outdoor (NYSE:DECK - Free Report) had its price objective increased by Barclays from $128.00 to $134.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the textile maker's stock.

Other research analysts also recently issued research reports about the stock. Bank of America cut their target price on shares of Deckers Outdoor from $128.00 to $114.00 and set a "neutral" rating on the stock in a research report on Thursday, July 17th. Raymond James Financial lowered their price target on shares of Deckers Outdoor from $140.00 to $123.00 and set a "strong-buy" rating on the stock in a report on Tuesday. Robert W. Baird raised their price target on shares of Deckers Outdoor from $140.00 to $150.00 and gave the company an "outperform" rating in a report on Friday. KeyCorp restated a "sector weight" rating and issued a $150.00 price target on shares of Deckers Outdoor in a report on Friday, May 23rd. Finally, KGI Securities upgraded shares of Deckers Outdoor to a "hold" rating in a report on Monday, May 26th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $131.77.

Deckers Outdoor Stock Up 11.1%

DECK stock traded up $11.69 during trading on Friday, hitting $116.63. The company had a trading volume of 15,340,205 shares, compared to its average volume of 3,644,249. The firm has a market capitalization of $17.43 billion, a P/E ratio of 17.89, a PEG ratio of 7.67 and a beta of 0.99. Deckers Outdoor has a 52-week low of $93.72 and a 52-week high of $223.98. The company has a 50 day simple moving average of $106.21 and a 200-day simple moving average of $129.20.

Deckers Outdoor (NYSE:DECK - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The textile maker reported $0.93 EPS for the quarter, topping the consensus estimate of $0.68 by $0.25. The company had revenue of $964.54 million for the quarter, compared to the consensus estimate of $901.45 million. Deckers Outdoor had a net margin of 19.42% and a return on equity of 40.54%. The firm's revenue was up 16.9% compared to the same quarter last year. During the same quarter last year, the firm posted $4.52 EPS. Sell-side analysts forecast that Deckers Outdoor will post 5.89 earnings per share for the current year.

Deckers Outdoor announced that its Board of Directors has approved a stock repurchase program on Thursday, May 22nd that authorizes the company to repurchase $2.25 billion in shares. This repurchase authorization authorizes the textile maker to buy up to 11.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other Deckers Outdoor news, Director Cindy L. Davis bought 1,825 shares of the company's stock in a transaction dated Friday, June 6th. The stock was acquired at an average price of $109.76 per share, with a total value of $200,312.00. Following the completion of the acquisition, the director directly owned 13,340 shares of the company's stock, valued at $1,464,198.40. This represents a 15.85% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Angela Ogbechie sold 6,244 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $103.89, for a total transaction of $648,689.16. Following the sale, the insider directly owned 19,980 shares of the company's stock, valued at $2,075,722.20. The trade was a 23.81% decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Deckers Outdoor

A number of large investors have recently modified their holdings of DECK. HighPoint Advisor Group LLC boosted its position in shares of Deckers Outdoor by 5.3% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,623 shares of the textile maker's stock valued at $330,000 after acquiring an additional 81 shares during the last quarter. Gerber Kawasaki Wealth & Investment Management lifted its position in Deckers Outdoor by 4.6% in the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 1,902 shares of the textile maker's stock valued at $386,000 after buying an additional 84 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in Deckers Outdoor by 1.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,896 shares of the textile maker's stock valued at $1,016,000 after buying an additional 90 shares during the last quarter. Alcosta Capital Management Inc. lifted its position in Deckers Outdoor by 0.3% in the fourth quarter. Alcosta Capital Management Inc. now owns 33,787 shares of the textile maker's stock valued at $6,862,000 after buying an additional 90 shares during the last quarter. Finally, Horizon Investments LLC lifted its position in Deckers Outdoor by 4.6% in the first quarter. Horizon Investments LLC now owns 2,179 shares of the textile maker's stock valued at $244,000 after buying an additional 96 shares during 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.