Deckers Outdoor (NYSE:DECK) Cut to "Outperform" at Raymond James Financial

Key Points

• Raymond James downgraded Deckers Outdoor from "strong-buy" to "outperform" and set a $133 price target, implying roughly a 23.6% upside from the previous close.
• Quarterly beat: Deckers reported EPS of $3.33 versus $2.77 expected and revenue of $1.96B versus $1.87B expected, with a 19.46% net margin and 41.6% ROE; analysts forecast about $6.87 EPS for the year.
• Insider selling and ownership: Insiders sold ~9,092 shares (~$1.05M) recently (including sales by Anne Spangenberg and director Lauri M. Shanahan), leaving insiders with 0.40% ownership while institutional investors hold ~97.8% of the shares.

Deckers Outdoor (NYSE:DECK - Get Free Report) was downgraded by investment analysts at Raymond James Financial from a "strong-buy" rating to an "outperform" rating in a note issued to investors on Thursday, MarketBeat.com reports. They presently have a $133.00 price target on the textile maker's stock. Raymond James Financial's price objective would suggest a potential upside of 23.55% from the company's previous close.

DECK has been the topic of a number of other research reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Deckers Outdoor in a report on Monday. Needham & Company LLC lifted their price objective on Deckers Outdoor from $115.00 to $138.00 and gave the company a "buy" rating in a report on Friday, January 30th. Truist Financial set a $132.00 price objective on Deckers Outdoor in a report on Friday, January 30th. BTIG Research reaffirmed a "neutral" rating on shares of Deckers Outdoor in a report on Friday, January 30th. Finally, The Goldman Sachs Group reaffirmed a "sell" rating and issued a $92.00 price objective (up from $81.00) on shares of Deckers Outdoor in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, Deckers Outdoor presently has a consensus rating of "Hold" and a consensus target price of $126.35.

Deckers Outdoor Stock Down 2.3%

NYSE DECK opened at $107.65 on Thursday. Deckers Outdoor has a 52-week low of $78.91 and a 52-week high of $133.43. The business's 50-day moving average price is $107.47 and its 200 day moving average price is $100.94. The firm has a market cap of $15.28 billion, a P/E ratio of 15.20, a P/E/G ratio of 2.36 and a beta of 1.21.

Deckers Outdoor (NYSE:DECK - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The textile maker reported $3.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.77 by $0.56. Deckers Outdoor had a return on equity of 41.60% and a net margin of 19.46%.The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the company posted $3.00 earnings per share. The business's revenue was up 7.1% on a year-over-year basis. As a group, analysts anticipate that Deckers Outdoor will post 6.87 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Anne Spangenberg sold 4,063 shares of Deckers Outdoor stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $116.02, for a total transaction of $471,389.26. Following the completion of the transaction, the insider directly owned 80,449 shares in the company, valued at $9,333,692.98. The trade was a 4.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lauri M. Shanahan sold 4,682 shares of Deckers Outdoor stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $114.84, for a total value of $537,680.88. Following the transaction, the director owned 25,026 shares of the company's stock, valued at $2,873,985.84. This represents a 15.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 9,092 shares of company stock worth $1,048,552 in the last ninety days. Insiders own 0.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Patton Fund Management Inc. acquired a new position in Deckers Outdoor in the 1st quarter valued at $268,000. Janney Montgomery Scott LLC raised its holdings in Deckers Outdoor by 16.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 138,468 shares of the textile maker's stock valued at $13,859,000 after acquiring an additional 19,888 shares during the last quarter. Adams Diversified Equity Fund Inc. acquired a new position in Deckers Outdoor in the 1st quarter valued at $8,458,000. Trilogy Capital Inc. raised its holdings in Deckers Outdoor by 10.1% in the 1st quarter. Trilogy Capital Inc. now owns 36,723 shares of the textile maker's stock valued at $3,676,000 after acquiring an additional 3,368 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its holdings in Deckers Outdoor by 26.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 286,754 shares of the textile maker's stock valued at $28,698,000 after acquiring an additional 59,667 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

About Deckers Outdoor

Deckers Outdoor Corporation is a global designer, marketer and distributor of footwear, apparel and accessories. The company's product portfolio includes well‐known brands such as UGG, HOKA, Teva, Sanuk and Koolaburra by UGG, spanning a range of lifestyle, performance and outdoor categories. Deckers leverages a blend of proprietary manufacturing, strategic brand storytelling and direct‐to‐consumer retail to serve both fashion‐focused and performance‐oriented customers.

Founded in 1973 by Doug Otto and Karl F.

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