Deckers Outdoor (NYSE:DECK) Given New $90.00 Price Target at Wells Fargo & Company

Deckers Outdoor (NYSE:DECK - Get Free Report) had its target price decreased by research analysts at Wells Fargo & Company from $100.00 to $90.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the textile maker's stock. Wells Fargo & Company's target price points to a potential downside of 14.06% from the stock's previous close.

A number of other brokerages also recently weighed in on DECK. Stifel Nicolaus lowered their price objective on shares of Deckers Outdoor from $185.00 to $127.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. TD Securities increased their price objective on shares of Deckers Outdoor from $150.00 to $175.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. UBS Group reduced their target price on shares of Deckers Outdoor from $169.00 to $144.00 and set a "buy" rating for the company in a report on Thursday. Cowen reiterated a "buy" rating on shares of Deckers Outdoor in a research report on Tuesday, May 20th. Finally, Robert W. Baird decreased their target price on Deckers Outdoor from $160.00 to $140.00 and set an "outperform" rating on the stock in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $135.08.

Deckers Outdoor Stock Performance

Shares of DECK traded up $2.81 on Monday, hitting $104.72. 1,930,007 shares of the stock traded hands, compared to its average volume of 2,702,759. Deckers Outdoor has a one year low of $93.72 and a one year high of $223.98. The company has a market capitalization of $15.65 billion, a PE ratio of 16.54, a P/E/G ratio of 6.69 and a beta of 0.99. The business has a 50 day simple moving average of $108.14 and a 200 day simple moving average of $132.12.

Deckers Outdoor (NYSE:DECK - Get Free Report) last issued its earnings results on Thursday, May 22nd. The textile maker reported $1.00 EPS for the quarter, beating the consensus estimate of $0.57 by $0.43. Deckers Outdoor had a return on equity of 41.17% and a net margin of 19.49%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the business posted $0.82 EPS. The company's revenue was up 6.5% compared to the same quarter last year. On average, equities analysts expect that Deckers Outdoor will post 5.89 earnings per share for the current year.

Deckers Outdoor declared that its board has approved a share repurchase plan on Thursday, May 22nd that permits the company to buyback $2.25 billion in shares. This buyback authorization permits the textile maker to purchase up to 11.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Insider Activity

In other news, Director Cindy L. Davis bought 1,825 shares of the stock in a transaction dated Friday, June 6th. The stock was purchased at an average cost of $109.76 per share, for a total transaction of $200,312.00. Following the transaction, the director owned 13,340 shares of the company's stock, valued at $1,464,198.40. The trade was a 15.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Angela Ogbechie sold 6,244 shares of the 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 $2,075,722.20. This represents a 23.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company's stock.

Hedge Funds Weigh In On Deckers Outdoor

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

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