KeyCorp Downgrades Deckers Outdoor (NYSE:DECK) to Sector Weight

Deckers Outdoor (NYSE:DECK - Get Free Report) was downgraded by KeyCorp from an "overweight" rating to a "sector weight" rating in a report issued on Thursday, Marketbeat Ratings reports. They currently have a $150.00 target price on the textile maker's stock. KeyCorp's price objective would indicate a potential upside of 37.88% from the company's previous close.

Several other equities research analysts also recently commented on the stock. Telsey Advisory Group downgraded shares of Deckers Outdoor from an "outperform" rating to a "market perform" rating in a research note on Friday. Barclays reiterated an "overweight" rating and set a $128.00 price objective (down previously from $129.00) on shares of Deckers Outdoor in a report on Thursday. Raymond James reiterated a "strong-buy" rating on shares of Deckers Outdoor in a report on Friday. Cowen reaffirmed a "buy" rating on shares of Deckers Outdoor in a research report on Tuesday, May 20th. Finally, Robert W. Baird dropped their price target on Deckers Outdoor from $160.00 to $140.00 and set an "outperform" rating on the stock in a research note on Friday. Twelve research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Deckers Outdoor currently has an average rating of "Moderate Buy" and an average target price of $134.68.

Deckers Outdoor Trading Up 7.7%

Shares of DECK traded up $7.74 on Thursday, reaching $108.79. 7,527,112 shares of the company's stock were exchanged, compared to its average volume of 2,536,872. The business has a 50 day moving average price of $114.04 and a two-hundred day moving average price of $157.10. Deckers Outdoor has a 12 month low of $93.72 and a 12 month high of $223.98. The stock has a market capitalization of $16.51 billion, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 1.68 and a beta of 1.11.

Deckers Outdoor (NYSE:DECK - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The textile maker reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.43. The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. Deckers Outdoor had a return on equity of 41.71% and a net margin of 19.14%. The firm's quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.82 earnings per share. Equities research analysts predict that Deckers Outdoor will post 5.89 EPS for the current year.

Deckers Outdoor declared that its Board of Directors has approved a share repurchase plan on Thursday, May 22nd that permits the company to repurchase $2.25 billion in shares. This repurchase authorization permits the textile maker to buy up to 11.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Activity

In other Deckers Outdoor news, Director David Powers sold 25,000 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $138.84, for a total transaction of $3,471,000.00. Following the transaction, the director now owns 241,777 shares of the company's stock, valued at $33,568,318.68. The trade was a 9.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Maha Saleh Ibrahim sold 300 shares of the company'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 owns 10,388 shares in the company, valued at $1,396,978.24. This represents a 2.81% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mpwm Advisory Solutions LLC bought a new stake in Deckers Outdoor in the 4th quarter valued at $26,000. Headlands Technologies LLC acquired a new position in shares of Deckers Outdoor in the fourth quarter valued at $29,000. Vega Investment Solutions acquired a new position in shares of Deckers Outdoor in the fourth quarter valued at $29,000. Whittier Trust Co. of Nevada Inc. raised its position 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 valued at $34,000 after purchasing an additional 120 shares during the period. Finally, Mountain Hill Investment Partners Corp. acquired a new stake in shares of Deckers Outdoor during the 1st quarter worth about $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.