Brokerages Set Deckers Outdoor Corporation (NYSE:DECK) Target Price at $137.66

Shares of Deckers Outdoor Corporation (NYSE:DECK - Get Free Report) have been given an average rating of "Hold" by the twenty-five research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $137.66.

Several research firms have issued reports on DECK. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Deckers Outdoor in a research report on Friday, May 23rd. Cowen reissued a "buy" rating on shares of Deckers Outdoor in a research report on Tuesday, May 20th. Needham & Company LLC set a $150.00 price objective on shares of Deckers Outdoor and gave the company a "buy" rating in a research report on Wednesday, May 21st. Bank of America dropped their price objective on shares of Deckers Outdoor from $154.00 to $128.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Finally, Piper Sandler dropped their price objective on shares of Deckers Outdoor from $210.00 to $100.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th.

Deckers Outdoor Stock Down 0.4%

Shares of NYSE:DECK traded down $0.45 during mid-day trading on Tuesday, reaching $104.84. 2,852,160 shares of the stock were exchanged, compared to its average volume of 2,650,328. Deckers Outdoor has a one year low of $93.72 and a one year high of $223.98. The company has a market cap of $15.67 billion, a P/E ratio of 16.53, a P/E/G ratio of 6.43 and a beta of 0.99. The stock's 50 day simple moving average is $110.74 and its 200-day simple moving average is $138.26.

Deckers Outdoor (NYSE:DECK - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.43. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Deckers Outdoor had a return on equity of 41.17% and a net margin of 19.49%. The business's revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company earned $0.82 earnings per share. Analysts anticipate that Deckers Outdoor will post 5.89 EPS for the current fiscal year.

Deckers Outdoor announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 22nd that authorizes the company to buyback $2.25 billion in outstanding shares. This buyback authorization authorizes the textile maker to repurchase up to 11.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's management believes its stock is undervalued.

Insider Activity at Deckers Outdoor

In related news, Director Cindy L. Davis purchased 1,825 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were bought at an average cost of $109.76 per share, with a total value of $200,312.00. Following the acquisition, the director owned 13,340 shares of the company's stock, valued at $1,464,198.40. This trade represents a 15.85% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Angela Ogbechie sold 6,244 shares of Deckers Outdoor stock in a transaction that occurred on Monday, June 2nd. The shares were 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 in the company, valued at $2,075,722.20. This trade represents a 23.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Deckers Outdoor

Several hedge funds have recently added to or reduced their stakes in DECK. Mpwm Advisory Solutions LLC acquired a new stake in Deckers Outdoor during the 4th quarter worth approximately $26,000. Headlands Technologies LLC acquired a new stake in Deckers Outdoor during the 4th quarter worth approximately $29,000. Vega Investment Solutions bought a new position in shares of Deckers Outdoor during the fourth quarter worth about $29,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Deckers Outdoor by 250.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 168 shares of the textile maker's stock worth $34,000 after acquiring an additional 120 shares during the period. Finally, Mountain Hill Investment Partners Corp. bought a new stake in Deckers Outdoor in the first quarter valued at approximately $34,000. 97.79% of the stock is currently owned by institutional investors and hedge funds.

About Deckers Outdoor

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.