Deckers Outdoor (NYSE:DECK) Price Target Raised to $150.00 at Robert W. Baird

Key Points

• Deckers Outdoor received a price target increase from $140.00 to $150.00 by Robert W. Baird, indicating a potential upside of 42.91% from its current stock price.
• The company's stock has recently faced mixed analyst ratings, with some brokerages lowering their price targets significantly, leading to a general average target price of $132.98.
• Deckers Outdoor reported better-than-expected earnings for the last quarter, with $0.93 earnings per share against a consensus estimate of $0.68, and acknowledged a share buyback program worth $2.25 billion.

Deckers Outdoor (NYSE:DECK - Get Free Report) had its price objective lifted by research analysts at Robert W. Baird from $140.00 to $150.00 in a research note issued on Friday,Benzinga reports. The firm currently has an "outperform" rating on the textile maker's stock. Robert W. Baird's price target indicates a potential upside of 42.91% from the stock's current price.

Several other brokerages also recently commented on DECK. UBS Group cut their price target on shares of Deckers Outdoor from $169.00 to $144.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Stifel Nicolaus cut their target price on Deckers Outdoor from $185.00 to $127.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. KGI Securities raised Deckers Outdoor to a "hold" rating in a research note on Monday, May 26th. Raymond James Financial cut their target price on Deckers Outdoor from $140.00 to $123.00 and set a "strong-buy" rating on the stock in a research note on Tuesday. Finally, Evercore ISI reaffirmed an "in-line" rating and set a $110.00 target price (down previously from $235.00) on shares of Deckers Outdoor in a research note on Friday, May 23rd. One equities research 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 company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $132.98.

Deckers Outdoor Stock Down 2.9%

Deckers Outdoor stock opened at $104.96 on Friday. The company's 50-day moving average price is $106.44 and its 200-day moving average price is $130.35. Deckers Outdoor has a twelve month low of $93.72 and a twelve month high of $223.98. The company has a market cap of $15.68 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 7.09 and a beta of 0.99.

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

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

Insiders Place Their Bets

In other Deckers Outdoor news, Director Maha Saleh Ibrahim sold 300 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $109.08, for a total value of $32,724.00. Following the completion of the transaction, the director owned 10,681 shares of the company's stock, valued at approximately $1,165,083.48. This trade represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Angela Ogbechie sold 6,244 shares of the firm'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 completion of the transaction, the insider directly 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 Trading of Deckers Outdoor

Hedge funds and other institutional investors have recently made changes to their positions in the business. Marks Group Wealth Management Inc increased its stake in shares of Deckers Outdoor by 15.4% in the first quarter. Marks Group Wealth Management Inc now owns 62,902 shares of the textile maker's stock worth $7,033,000 after acquiring an additional 8,410 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of Deckers Outdoor by 17.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 17,864 shares of the textile maker's stock worth $1,997,000 after acquiring an additional 2,706 shares during the period. Park Avenue Securities LLC increased its stake in shares of Deckers Outdoor by 32.3% in the first quarter. Park Avenue Securities LLC now owns 26,929 shares of the textile maker's stock worth $3,011,000 after acquiring an additional 6,569 shares during the period. Principal Financial Group Inc. increased its stake in shares of Deckers Outdoor by 17.7% in the first quarter. Principal Financial Group Inc. now owns 587,747 shares of the textile maker's stock worth $65,716,000 after acquiring an additional 88,179 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Deckers Outdoor in the first quarter worth $493,000. 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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