Deckers Outdoor (NYSE:DECK) Given New $100.00 Price Target at Wells Fargo & Company

Deckers Outdoor (NYSE:DECK - Get Free Report) had its target price dropped by analysts at Wells Fargo & Company from $120.00 to $100.00 in a report issued on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the textile maker's stock. Wells Fargo & Company's target price suggests a potential downside of 1.40% from the stock's previous close.

Other analysts have also issued reports about the stock. Cowen restated a "buy" rating on shares of Deckers Outdoor in a report on Tuesday. Bank of America lifted their price target on Deckers Outdoor from $182.00 to $217.00 and gave the company a "neutral" rating in a research report on Thursday, January 23rd. Jefferies Financial Group increased 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. Truist Financial dropped their target price on shares of Deckers Outdoor from $235.00 to $225.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Finally, KeyCorp reissued a "sector weight" rating and set a $150.00 price target on shares of Deckers Outdoor in a research report on Friday. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $143.84.

Deckers Outdoor Stock Performance

DECK traded down $24.67 on Friday, reaching $101.42. The company had a trading volume of 11,911,341 shares, compared to its average volume of 2,505,849. Deckers Outdoor has a 52-week low of $93.72 and a 52-week high of $223.98. The company has a market cap of $15.39 billion, a price-to-earnings ratio of 16.44, a P/E/G ratio of 1.68 and a beta of 1.11. The business has a 50 day simple moving average of $114.83 and a 200 day simple moving average of $158.54.

Deckers Outdoor (NYSE:DECK - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The textile maker reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.45. 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 analyst estimates of $1.01 billion. During the same period in the prior year, the business posted $0.82 EPS. The firm's revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts predict that Deckers Outdoor will post 5.89 EPS for the current fiscal year.

Deckers Outdoor declared that its board has approved a stock repurchase program on Thursday, May 22nd that authorizes the company to repurchase $2.25 billion in outstanding shares. This repurchase authorization authorizes the textile maker to buy up to 11.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling

In related news, Director David Powers sold 25,000 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $138.84, for a total transaction of $3,471,000.00. Following the transaction, the director now directly owns 241,777 shares in the company, valued at approximately $33,568,318.68. This represents a 9.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Maha Saleh Ibrahim sold 300 shares of the business'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 transaction, the director now owns 10,388 shares of the company's stock, valued at $1,396,978.24. This trade represents a 2.81% decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Deckers Outdoor

Large investors have recently bought and sold shares of the business. Acadian Asset Management LLC raised its holdings in shares of Deckers Outdoor by 149.2% in the 1st quarter. Acadian Asset Management LLC now owns 23,773 shares of the textile maker's stock valued at $2,656,000 after purchasing an additional 14,234 shares in the last quarter. IFM Investors Pty Ltd boosted its position in shares of Deckers Outdoor by 3.5% in the 1st quarter. IFM Investors Pty Ltd now owns 31,723 shares of the textile maker's stock worth $3,547,000 after purchasing an additional 1,060 shares in the last quarter. Belpointe Asset Management LLC grew its stake in Deckers Outdoor by 931.9% during the 1st quarter. Belpointe Asset Management LLC now owns 7,027 shares of the textile maker's stock worth $786,000 after buying an additional 6,346 shares during the last quarter. Intech Investment Management LLC increased its position in Deckers Outdoor by 843.1% during the 1st quarter. Intech Investment Management LLC now owns 134,385 shares of the textile maker's stock valued at $15,026,000 after buying an additional 120,136 shares in the last quarter. Finally, Focus Partners Wealth boosted its holdings in Deckers Outdoor by 8.1% in the first quarter. Focus Partners Wealth now owns 6,914 shares of the textile maker's stock worth $773,000 after acquiring an additional 521 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company's stock.

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.

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