Deckers Outdoor (NYSE:DECK) Shares Gap Down After Analyst Downgrade

Deckers Outdoor Co. (NYSE:DECK - Get Free Report)'s stock price gapped down before the market opened on Friday after Raymond James lowered their price target on the stock from $150.00 to $140.00. The stock had previously closed at $126.09, but opened at $97.94. Raymond James currently has a strong-buy rating on the stock. Deckers Outdoor shares last traded at $100.01, with a volume of 7,040,434 shares changing hands.

A number of other equities research analysts have also issued reports on the stock. Evercore ISI reissued 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. Needham & Company LLC set a $150.00 price target on Deckers Outdoor and gave the stock a "buy" rating in a research note on Wednesday. Truist Financial cut their price target on Deckers Outdoor from $235.00 to $225.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Jefferies Financial Group raised their price target on Deckers Outdoor from $180.00 to $200.00 and gave the stock a "hold" rating in a research note on Tuesday, January 28th. Finally, Piper Sandler dropped their price target on shares of Deckers Outdoor from $210.00 to $100.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Twelve equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $144.31.

Insider Transactions at Deckers Outdoor

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

Institutional Investors Weigh In On Deckers Outdoor

Several hedge funds have recently made changes to their positions in the stock. Resonant Capital Advisors LLC lifted its stake in shares of Deckers Outdoor by 2.2% in the fourth quarter. Resonant Capital Advisors LLC now owns 2,408 shares of the textile maker's stock valued at $489,000 after buying an additional 52 shares during the period. Bleakley Financial Group LLC raised its stake in shares of Deckers Outdoor by 3.9% in the fourth quarter. Bleakley Financial Group LLC now owns 1,444 shares of the textile maker's stock valued at $293,000 after purchasing an additional 54 shares in the last quarter. Mather Group LLC. raised its stake in shares of Deckers Outdoor by 2.6% in the fourth quarter. Mather Group LLC. now owns 2,567 shares of the textile maker's stock valued at $521,000 after purchasing an additional 64 shares in the last quarter. Prosperity Wealth Management Inc. raised its stake in shares of Deckers Outdoor by 2.8% in the fourth quarter. Prosperity Wealth Management Inc. now owns 2,777 shares of the textile maker's stock valued at $564,000 after purchasing an additional 75 shares in the last quarter. Finally, WD Rutherford LLC raised its stake in shares of Deckers Outdoor by 4.8% in the fourth quarter. WD Rutherford LLC now owns 1,735 shares of the textile maker's stock valued at $352,000 after purchasing an additional 79 shares in the last quarter. Institutional investors own 97.79% of the company's stock.

Deckers Outdoor Price Performance

The firm has a market capitalization of $15.42 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 1.68 and a beta of 1.11. The business has a 50 day moving average of $114.83 and a 200 day moving average of $158.54.

Deckers Outdoor (NYSE:DECK - Get Free Report) last posted its earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.45. The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. Deckers Outdoor had a net margin of 19.14% and a return on equity of 41.71%. The firm's revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 earnings per share. On average, sell-side analysts forecast that Deckers Outdoor Co. will post 5.89 EPS for the current fiscal year.

Deckers Outdoor declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 22nd that permits the company to buyback $2.25 billion in shares. This buyback authorization permits the textile maker to purchase up to 11.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its stock is undervalued.

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.

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