Deckers Outdoor (NYSE:DECK) Price Target Lowered to $87.00 at The Goldman Sachs Group

Deckers Outdoor (NYSE:DECK - Free Report) had its price objective cut by The Goldman Sachs Group from $90.00 to $87.00 in a research note published on Tuesday,Benzinga reports. They currently have a sell rating on the textile maker's stock.

Other analysts have also recently issued reports about the company. Argus assumed coverage on Deckers Outdoor in a research report on Friday, June 13th. They issued a "hold" rating on the stock. Needham & Company LLC set a $150.00 price target on Deckers Outdoor and gave the company a "buy" rating in a research report on Wednesday, May 21st. TD Securities upped their price target on Deckers Outdoor from $150.00 to $175.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Telsey Advisory Group reiterated a "market perform" rating and issued a $120.00 price target on shares of Deckers Outdoor in a research report on Friday, July 18th. Finally, Piper Sandler lowered their price target on Deckers Outdoor from $210.00 to $100.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $131.77.

Deckers Outdoor Price Performance

Shares of DECK traded up $11.69 on Tuesday, reaching $116.63. 15,340,059 shares of the stock traded hands, compared to its average volume of 3,470,389. The firm has a market cap of $17.43 billion, a price-to-earnings ratio of 18.39, a P/E/G ratio of 7.09 and a beta of 0.99. Deckers Outdoor has a 12 month low of $93.72 and a 12 month high of $223.98. The stock's 50-day moving average price is $106.44 and its 200-day moving average price is $130.35.

Deckers Outdoor (NYSE:DECK - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The textile maker reported $0.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.25. The business had revenue of $964.54 million for the quarter, compared to analysts' expectations of $901.45 million. Deckers Outdoor had a return on equity of 41.17% and a net margin of 19.49%. Deckers Outdoor's quarterly revenue was up 16.9% on a year-over-year basis. During the same period in the previous year, the business posted $4.52 earnings per share. As a group, equities research analysts forecast that Deckers Outdoor will post 5.89 earnings per share for the current fiscal year.

Deckers Outdoor declared that its board has approved a share buyback program on Thursday, May 22nd that authorizes the company to buyback $2.25 billion in outstanding shares. This buyback authorization authorizes the textile maker to reacquire up to 11.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Insider Activity

In related news, Director Maha Saleh Ibrahim sold 300 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $109.08, for a total transaction of $32,724.00. Following the sale, the director owned 10,681 shares in the company, valued at $1,165,083.48. The trade was a 2.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 value of $648,689.16. Following the sale, the insider owned 19,980 shares in the company, valued at $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

A number of hedge funds and other institutional investors have recently bought and sold shares of DECK. Mpwm Advisory Solutions LLC bought a new stake in Deckers Outdoor during the 4th quarter worth $26,000. Headlands Technologies LLC bought a new stake in shares of Deckers Outdoor in the 4th quarter valued at about $29,000. Vega Investment Solutions bought a new stake in shares of Deckers Outdoor in the 4th quarter valued at about $29,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of Deckers Outdoor by 250.0% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 168 shares of the textile maker's stock valued at $34,000 after buying an additional 120 shares during the last quarter. Finally, Mountain Hill Investment Partners Corp. bought a new stake in shares of Deckers Outdoor in the 1st quarter valued at about $34,000. 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.