Deckers Outdoor (NYSE:DECK) Receives "In-Line" Rating from Evercore ISI

Deckers Outdoor (NYSE:DECK - Get Free Report)'s stock had its "in-line" rating restated by equities research analysts at Evercore ISI in a report released on Friday, Marketbeat Ratings reports. They presently have a $110.00 price objective on the textile maker's stock. Evercore ISI's price objective points to a potential downside of 13.21% from the company's previous close.

Other equities analysts have also recently issued research reports about the company. Piper Sandler cut their price objective on Deckers Outdoor from $210.00 to $100.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Stifel Nicolaus reduced their price objective on Deckers Outdoor from $185.00 to $127.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Truist Financial dropped their price objective on Deckers Outdoor from $235.00 to $225.00 and set a "buy" rating for the company in a report on Friday, January 31st. UBS Group reiterated a "hold" rating on shares of Deckers Outdoor in a report on Thursday. Finally, Barclays reissued an "overweight" rating on shares of Deckers Outdoor in a research report on Thursday. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.89.

Deckers Outdoor Stock Up 2.7%

Shares of NYSE DECK opened at $126.74 on Friday. Deckers Outdoor has a fifty-two week low of $93.72 and a fifty-two week high of $223.98. The firm's 50-day simple moving average is $114.83 and its 200 day simple moving average is $158.54. The stock has a market cap of $19.24 billion, a P/E ratio of 20.55, a P/E/G ratio of 1.68 and a beta of 1.11.

Deckers Outdoor (NYSE:DECK - Get Free Report) last announced its earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.45. Deckers Outdoor had a net margin of 19.14% and a return on equity of 41.71%. During the same quarter in the prior year, the company posted $0.82 EPS. The business's revenue for the quarter was up 6.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Deckers Outdoor will post 5.89 earnings per share for the current fiscal year.

Deckers Outdoor announced that its board has approved a stock buyback plan 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 plans are generally a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Deckers Outdoor

In related news, Director David Powers sold 25,000 shares of the firm's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $138.84, for a total transaction of $3,471,000.00. Following the completion of the transaction, the director now owns 241,777 shares of the company's stock, valued at $33,568,318.68. This trade represents a 9.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Maha Saleh Ibrahim sold 300 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $134.48, for a total value of $40,344.00. Following the completion of the sale, the director now owns 10,388 shares of the company's stock, valued at $1,396,978.24. This trade represents a 2.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC grew its position in shares of Deckers Outdoor by 149.2% during the first quarter. Acadian Asset Management LLC now owns 23,773 shares of the textile maker's stock worth $2,656,000 after buying an additional 14,234 shares in the last quarter. IFM Investors Pty Ltd boosted its position in shares of Deckers Outdoor by 3.5% during the 1st quarter. IFM Investors Pty Ltd now owns 31,723 shares of the textile maker's stock worth $3,547,000 after purchasing an additional 1,060 shares in the last quarter. Belpointe Asset Management LLC grew its holdings in shares of Deckers Outdoor by 931.9% in the 1st quarter. Belpointe Asset Management LLC now owns 7,027 shares of the textile maker's stock worth $786,000 after acquiring an additional 6,346 shares during the period. Intech Investment Management LLC increased its holdings in Deckers Outdoor by 843.1% during the 1st quarter. Intech Investment Management LLC now owns 134,385 shares of the textile maker's stock valued at $15,026,000 after acquiring an additional 120,136 shares in the last quarter. Finally, Focus Partners Wealth boosted its stake in shares of Deckers Outdoor by 8.1% during the first quarter. Focus Partners Wealth now owns 6,914 shares of the textile maker's stock valued at $773,000 after acquiring an additional 521 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

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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