Deckers Outdoor (NYSE:DECK) Given New $158.00 Price Target at UBS Group

Key Points

• UBS Group revised its price target for Deckers Outdoor from $144.00 to $158.00, maintaining a "buy" rating, indicating a potential upside of 33.62% from the current stock price.
• Deckers Outdoor's stock experienced a 12.7% increase during trading, reaching $118.25 and showcasing significant trading volume compared to its average.
• The company reported a net margin of 19.49% and revenue growth of 16.9% year-over-year, exceeding analysts' revenue expectations.
• Deckers Outdoor initiated a $2.25 billion stock buyback program, allowing for the repurchase of up to 11.7% of its shares, which suggests confidence in the stock's valuation by management.

Deckers Outdoor (NYSE:DECK - Get Free Report) had its price target lifted by equities research analysts at UBS Group from $144.00 to $158.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the textile maker's stock. UBS Group's target price suggests a potential upside of 33.62% from the stock's current price.

DECK has been the subject of several other reports. Raymond James Financial reduced their price objective on Deckers Outdoor from $140.00 to $123.00 and set a "strong-buy" rating for the company in a research note on Tuesday. Telsey Advisory Group reiterated a "market perform" rating and set a $120.00 target price on shares of Deckers Outdoor in a research report on Friday. The Goldman Sachs Group cut their price objective on Deckers Outdoor from $90.00 to $87.00 and set a "sell" rating on the stock in a research report on Tuesday. Argus initiated coverage on Deckers Outdoor in a report on Friday, June 13th. They set a "hold" rating on the stock. Finally, Stifel Nicolaus reduced their price objective on shares of Deckers Outdoor from $185.00 to $127.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $131.03.

Deckers Outdoor Stock Up 12.7%

Deckers Outdoor stock traded up $13.31 during mid-day trading on Friday, reaching $118.25. The company had a trading volume of 9,091,159 shares, compared to its average volume of 3,421,897. The firm has a market cap of $17.67 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 7.09 and a beta of 0.99. The company has a 50 day moving average of $106.44 and a 200-day moving average of $130.35. Deckers Outdoor has a 52 week low of $93.72 and a 52 week high of $223.98.

Deckers Outdoor (NYSE:DECK - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The textile maker reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.25. Deckers Outdoor had a net margin of 19.49% and a return on equity of 41.17%. The business had revenue of $964.54 million during the quarter, compared to analysts' expectations of $901.45 million. During the same quarter in the prior year, the business posted $4.52 earnings per share. Deckers Outdoor's revenue was up 16.9% compared to the same quarter last year. On average, analysts predict that Deckers Outdoor will post 5.89 earnings per share for the current fiscal year.

Deckers Outdoor announced that its board has initiated a stock buyback program on Thursday, May 22nd that permits the company to buyback $2.25 billion in shares. This buyback authorization permits the textile maker to repurchase up to 11.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

Insider Activity

In related news, Director Cindy L. Davis purchased 1,825 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were purchased at an average cost of $109.76 per share, for a total transaction of $200,312.00. Following the completion of the transaction, the director directly owned 13,340 shares in the company, valued at approximately $1,464,198.40. This represents a 15.85% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Angela Ogbechie sold 6,244 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $103.89, for a total value of $648,689.16. Following the transaction, the insider owned 19,980 shares of the company's stock, valued at approximately $2,075,722.20. This represents a 23.81% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company's stock.

Institutional Investors Weigh In On Deckers Outdoor

Several hedge funds and other institutional investors have recently made changes to their positions in DECK. Vanguard Group Inc. increased its holdings in Deckers Outdoor by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 17,747,418 shares of the textile maker's stock valued at $1,984,339,000 after purchasing an additional 107,635 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Deckers Outdoor by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 4,104,954 shares of the textile maker's stock worth $831,723,000 after purchasing an additional 45,035 shares in the last quarter. Norges Bank bought a new stake in Deckers Outdoor in the fourth quarter valued at approximately $392,583,000. Northern Trust Corp boosted its holdings in Deckers Outdoor by 6.2% during the first quarter. Northern Trust Corp now owns 1,680,558 shares of the textile maker's stock worth $187,903,000 after purchasing an additional 98,856 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Deckers Outdoor by 6.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,520,461 shares of the textile maker's stock worth $170,003,000 after buying an additional 97,312 shares during the last quarter. Institutional investors and hedge funds 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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