Deckers Outdoor (NYSE:DECK) Cut to Sector Weight at KeyCorp

Deckers Outdoor (NYSE:DECK - Get Free Report) was downgraded by investment analysts at KeyCorp from an "overweight" rating to a "sector weight" rating in a note issued to investors on Thursday, May 22nd, Marketbeat Ratings reports. They currently have a $150.00 price objective on the textile maker's stock. KeyCorp's target price points to a potential upside of 39.96% from the company's current price.

A number of other equities research analysts also recently weighed in on DECK. Citigroup dropped their target price on Deckers Outdoor from $215.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Jefferies Financial Group boosted their price objective on Deckers Outdoor from $180.00 to $200.00 and gave the stock a "hold" rating in a report on Tuesday, January 28th. Piper Sandler dropped their price target on shares of Deckers Outdoor from $210.00 to $100.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Evercore ISI reaffirmed an "in-line" rating and issued a $110.00 price objective (down from $235.00) on shares of Deckers Outdoor in a research note on Friday, May 23rd. Finally, Telsey Advisory Group cut shares of Deckers Outdoor from an "outperform" rating to a "market perform" rating in a research report on Friday, May 23rd. Thirteen equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $134.68.

Deckers Outdoor Trading Up 2.7%

Shares of Deckers Outdoor stock traded up $2.85 during trading on Thursday, reaching $107.17. The company's stock had a trading volume of 2,852,247 shares, compared to its average volume of 2,542,211. The stock has a 50-day moving average price of $113.77 and a two-hundred day moving average price of $156.74. The stock has a market capitalization of $16.27 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 1.68 and a beta of 1.11. Deckers Outdoor has a one year low of $93.72 and a one year high of $223.98.

Deckers Outdoor (NYSE:DECK - Get Free Report) last announced its earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.43. Deckers Outdoor had a net margin of 19.14% and a return on equity of 41.71%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the firm posted $0.82 earnings per share. The company's revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Deckers Outdoor will post 5.89 EPS for the current fiscal year.

Deckers Outdoor declared that its Board of Directors has authorized a stock buyback plan 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 stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Activity at Deckers Outdoor

In other news, Director David Powers sold 25,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $138.84, for a total value of $3,471,000.00. Following the completion of the sale, the director now owns 241,777 shares of the company's stock, valued at approximately $33,568,318.68. This represents a 9.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Maha Saleh Ibrahim sold 300 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $134.48, for a total transaction of $40,344.00. Following the completion of the sale, the director now directly owns 10,388 shares in the company, valued at approximately $1,396,978.24. The trade was a 2.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is owned by company insiders.

Institutional Trading of Deckers Outdoor

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Deckers Outdoor in the fourth quarter valued at about $392,583,000. JPMorgan Chase & Co. raised its position in shares of Deckers Outdoor by 929.0% in the third quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker's stock valued at $206,790,000 after purchasing an additional 1,170,855 shares during the period. Federated Hermes Inc. raised its position in shares of Deckers Outdoor by 1,998.7% in the first quarter. Federated Hermes Inc. now owns 1,163,977 shares of the textile maker's stock valued at $130,144,000 after purchasing an additional 1,108,516 shares during the period. Raymond James Financial Inc. bought a new position in shares of Deckers Outdoor in the fourth quarter valued at about $185,451,000. Finally, Nuveen LLC bought a new position in shares of Deckers Outdoor in the first quarter valued at about $97,935,000. 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.