Deckers Outdoor (NYSE:DECK) Coverage Initiated at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of Deckers Outdoor (NYSE:DECK - Free Report) in a research report released on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a sell rating and a $90.00 price target on the textile maker's stock.

Several other research firms also recently issued reports on DECK. KGI Securities upgraded shares of Deckers Outdoor to a "hold" rating in a research note on Monday, May 26th. Stifel Nicolaus reduced their target price on shares of Deckers Outdoor from $185.00 to $127.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Barclays reiterated an "overweight" rating and issued a $128.00 price target (down from $129.00) on shares of Deckers Outdoor in a report on Thursday, May 22nd. UBS Group set a $169.00 price objective on Deckers Outdoor and gave the stock a "buy" rating in a research note on Friday, May 23rd. Finally, Cowen reiterated a "buy" rating on shares of Deckers Outdoor in a research note on Tuesday, May 20th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $137.66.

Deckers Outdoor Stock Performance

Shares of DECK traded up $0.98 during trading hours on Wednesday, hitting $106.38. The stock had a trading volume of 4,622,599 shares, compared to its average volume of 2,636,064. Deckers Outdoor has a 12-month low of $93.72 and a 12-month high of $223.98. The firm has a market cap of $15.90 billion, a P/E ratio of 16.77, a P/E/G ratio of 6.26 and a beta of 0.99. The company's fifty day simple moving average is $111.23 and its 200 day simple moving average is $142.03.

Deckers Outdoor (NYSE:DECK - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The textile maker reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.43. Deckers Outdoor had a return on equity of 41.17% and a net margin of 19.49%. The company 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 quarterly revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts predict that Deckers Outdoor will post 5.89 earnings per share for the current fiscal year.

Deckers Outdoor announced that its Board of Directors has initiated a share repurchase plan on Thursday, May 22nd that authorizes the company to repurchase $2.25 billion in outstanding shares. This repurchase authorization authorizes the textile maker to reacquire up to 11.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Insider Transactions at Deckers Outdoor

In other news, Director Cindy L. Davis acquired 1,825 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was purchased at an average cost of $109.76 per share, with a total value of $200,312.00. Following the completion of the acquisition, the director directly owned 13,340 shares in the company, valued at $1,464,198.40. This represents a 15.85% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Angela Ogbechie sold 6,244 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $103.89, for a total value of $648,689.16. Following the transaction, the insider directly owned 19,980 shares in the company, 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 Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Mpwm Advisory Solutions LLC bought a new position in Deckers Outdoor in the fourth quarter worth about $26,000. Headlands Technologies LLC acquired a new stake in shares of Deckers Outdoor during the 4th quarter worth approximately $29,000. Vega Investment Solutions bought a new stake in shares of Deckers Outdoor in the 4th quarter worth approximately $29,000. Whittier Trust Co. of Nevada Inc. boosted its position in Deckers Outdoor by 250.0% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 168 shares of the textile maker's stock valued at $34,000 after purchasing an additional 120 shares during the period. Finally, Fourth Dimension Wealth LLC bought a new position in Deckers Outdoor during the 4th quarter worth $41,000. 97.79% of the stock is currently owned by institutional investors.

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.