Deckers Outdoor (NYSE:DECK) Price Target Cut to $144.00 by Analysts at UBS Group

Deckers Outdoor (NYSE:DECK - Free Report) had its price target decreased by UBS Group from $169.00 to $144.00 in a research report released on Thursday morning,Benzinga reports. UBS Group currently has a buy rating on the textile maker's stock.

A number of other analysts have also recently issued reports on the company. The Goldman Sachs Group began coverage on Deckers Outdoor in a research report on Wednesday, July 2nd. They issued a "sell" rating and a $90.00 price objective for the company. Cowen reissued a "buy" rating on shares of Deckers Outdoor in a report on Tuesday, May 20th. Barclays reissued an "overweight" rating and set a $128.00 price target (down from $129.00) on shares of Deckers Outdoor in a report on Thursday, May 22nd. Citigroup dropped their price target on Deckers Outdoor from $215.00 to $150.00 and set a "buy" rating for the company in a report on Monday, April 28th. Finally, KGI Securities raised Deckers Outdoor to a "hold" rating in a report on Monday, May 26th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Deckers Outdoor currently has an average rating of "Hold" and an average price target of $135.61.

Deckers Outdoor Trading Up 0.7%

Shares of DECK traded up $0.68 during mid-day trading on Thursday, reaching $101.90. The company's stock had a trading volume of 3,411,771 shares, compared to its average volume of 2,698,279. Deckers Outdoor has a 1-year low of $93.72 and a 1-year high of $223.98. The stock has a market cap of $15.23 billion, a P/E ratio of 16.06, a PEG ratio of 5.95 and a beta of 0.99. The business has a 50-day simple moving average of $108.53 and a two-hundred day simple moving average of $133.80.

Deckers Outdoor (NYSE:DECK - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The textile maker reported $1.00 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $1.01 billion. During the same period last year, the firm posted $0.82 earnings per share. The business's revenue was up 6.5% on a year-over-year basis. Research analysts anticipate that Deckers Outdoor will post 5.89 EPS for the current year.

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

Insider Transactions at Deckers Outdoor

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Deckers Outdoor by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 17,747,418 shares of the textile maker's stock worth $1,984,339,000 after buying an additional 107,635 shares during the period. Geode Capital Management LLC lifted its stake in shares of 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 purchasing an additional 45,035 shares during the period. Norges Bank acquired a new position in shares of Deckers Outdoor in the 4th quarter valued at about $392,583,000. Northern Trust Corp lifted its stake in shares of 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 purchasing an additional 98,856 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of 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 purchasing an additional 97,312 shares during the period. 97.79% of the stock is owned by institutional investors and hedge funds.

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.