Deckers Outdoor Corporation (NYSE:DECK) Given Average Recommendation of "Hold" by Analysts

Key Points

• Deckers Outdoor Corporation has received an average recommendation of "Hold" from 24 analysts, with one sell, thirteen hold, nine buy, and one strong buy ratings.
• The company reported a 16.9% increase in revenue for the last quarter, totaling $964.54 million, surpassing analysts' expectations of $901.45 million.
• Deckers Outdoor has announced a stock buyback program allowing for the repurchase of $2.25 billion in shares, indicating management's confidence in the company's stock value.

Deckers Outdoor Corporation (NYSE:DECK - Get Free Report) has earned an average recommendation of "Hold" from the twenty-four analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $137.50.

A number of equities analysts have issued reports on the company. Barclays raised their target price on Deckers Outdoor from $128.00 to $134.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Bank of America cut their price objective on Deckers Outdoor from $128.00 to $114.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. Truist Financial lifted their price objective on Deckers Outdoor from $130.00 to $145.00 and gave the company a "buy" rating in a report on Friday, July 25th. UBS Group lifted their price objective on Deckers Outdoor from $144.00 to $158.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, KeyCorp reiterated a "sector weight" rating and set a $150.00 price objective on shares of Deckers Outdoor in a report on Friday, May 23rd.

Deckers Outdoor Stock Down 2.7%

Deckers Outdoor stock opened at $103.29 on Friday. The business's 50-day simple moving average is $104.90 and its 200 day simple moving average is $127.07. The stock has a market cap of $15.34 billion, a price-to-earnings ratio of 15.84, a P/E/G ratio of 6.73 and a beta of 0.99. 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 issued its earnings results on Thursday, July 24th. The textile maker reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.25. Deckers Outdoor had a return on equity of 40.49% and a net margin of 19.42%. The firm had revenue of $964.54 million for the quarter, compared to analysts' expectations of $901.45 million. During the same quarter last year, the business earned $4.52 earnings per share. The company's revenue was up 16.9% compared to the same quarter last year. As a group, sell-side analysts expect that Deckers Outdoor will post 5.89 EPS for the current year.

Deckers Outdoor declared that its Board of Directors has approved a stock buyback program on Thursday, May 22nd that allows the company to buyback $2.25 billion in shares. This buyback authorization allows the textile maker to repurchase up to 11.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Insider Transactions at Deckers Outdoor

In other news, insider Angela Ogbechie sold 6,244 shares of Deckers Outdoor stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 19,980 shares in the company, valued at approximately $2,075,722.20. The trade was a 23.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Cindy L. Davis purchased 1,825 shares of Deckers Outdoor stock in a transaction that occurred on Friday, June 6th. The stock was purchased at an average price of $109.76 per share, with a total value of $200,312.00. Following the completion of the purchase, the director directly owned 13,340 shares in the company, valued at $1,464,198.40. This trade represents a 15.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Deckers Outdoor

Institutional investors have recently added to or reduced their stakes in the company. Mpwm Advisory Solutions LLC bought a new stake in Deckers Outdoor in the 4th quarter valued at $26,000. Headlands Technologies LLC bought a new stake in Deckers Outdoor in the 4th quarter valued at $29,000. Vega Investment Solutions bought a new stake in Deckers Outdoor in the 4th quarter valued at $29,000. CVA Family Office LLC boosted its stake in Deckers Outdoor by 137.4% in the 2nd quarter. CVA Family Office LLC now owns 311 shares of the textile maker's stock valued at $32,000 after purchasing an additional 180 shares during the period. Finally, Mountain Hill Investment Partners Corp. bought a new stake in Deckers Outdoor in the 1st quarter valued at $34,000. 97.79% of the stock is currently owned by institutional investors.

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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