Deckers Outdoor (NYSE:DECK) Downgraded to "Hold" Rating by Zacks Research

Key Points

• Zacks downgraded Deckers from "strong-buy" to "hold," and the stock's consensus MarketBeat rating is an average "Hold" with an average target price of $125.45.
• Deckers posted a strong quarter, beating estimates with $3.33 EPS vs. $2.77 expected and $1.96B in revenue (up 7.1% YoY), with a 19.46% net margin and 41.6% ROE.
• Insiders have been selling recently (9,092 shares worth about $1.05M in the last 90 days) while institutional ownership is very high at 97.79%, and insiders now own just 0.40% of the stock.

Deckers Outdoor (NYSE:DECK - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on DECK. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Deckers Outdoor in a report on Monday. Truist Financial set a $132.00 price target on shares of Deckers Outdoor in a report on Friday, January 30th. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $92.00 price target (up from $81.00) on shares of Deckers Outdoor in a report on Friday, January 30th. Sanford C. Bernstein set a $90.00 price target on shares of Deckers Outdoor in a report on Friday, January 30th. Finally, KGI Securities upgraded shares of Deckers Outdoor from a "hold" rating to an "outperform" rating and set a $129.00 price objective for the company in a research note on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $125.45.

Deckers Outdoor Trading Down 2.3%

NYSE:DECK opened at $107.65 on Tuesday. The stock has a market capitalization of $15.28 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 2.36 and a beta of 1.21. The firm's 50 day moving average is $107.47 and its 200 day moving average is $100.94. Deckers Outdoor has a 12 month low of $78.91 and a 12 month high of $133.43.

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

Insider Activity at Deckers Outdoor

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Pinnacle Investment Management Ltd purchased a new position in shares of Deckers Outdoor during the 3rd quarter valued at $2,027,000. Allspring Global Investments Holdings LLC grew its position in shares of Deckers Outdoor by 171.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 326,353 shares of the textile maker's stock valued at $33,020,000 after purchasing an additional 205,975 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Deckers Outdoor by 46.2% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 59,800 shares of the textile maker's stock worth $6,062,000 after acquiring an additional 18,900 shares in the last quarter. Lombard Odier Asset Management USA Corp purchased a new position in Deckers Outdoor in the third quarter worth $1,142,000. Finally, Nordea Investment Management AB grew its position in Deckers Outdoor by 980.5% in the third quarter. Nordea Investment Management AB now owns 359,343 shares of the textile maker's stock worth $36,312,000 after acquiring an additional 326,086 shares in the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

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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