Deckers Outdoor (NYSE:DECK) Upgraded by KGI Securities to Hold Rating

Deckers Outdoor (NYSE:DECK - Get Free Report) was upgraded by equities research analysts at KGI Securities to a "hold" rating in a report released on Monday,Zacks.com reports.

Several other brokerages have also weighed in on DECK. Barclays reiterated an "overweight" rating and set a $128.00 price objective (down from $129.00) on shares of Deckers Outdoor in a report on Thursday, May 22nd. Cowen reiterated a "buy" rating on shares of Deckers Outdoor in a report on Tuesday, May 20th. Telsey Advisory Group lowered shares of Deckers Outdoor from an "outperform" rating to a "market perform" rating in a report on Friday, May 23rd. Wells Fargo & Company cut their price objective on shares of Deckers Outdoor from $120.00 to $100.00 and set an "equal weight" rating on the stock in a report on Friday, May 23rd. Finally, Stifel Nicolaus cut their price objective on shares of Deckers Outdoor from $185.00 to $127.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Thirteen equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $134.68.

Deckers Outdoor Stock Performance

DECK traded down $1.70 during trading on Monday, hitting $105.57. The stock had a trading volume of 4,410,632 shares, compared to its average volume of 2,554,723. The firm has a market capitalization of $15.78 billion, a P/E ratio of 17.11, a PEG ratio of 1.68 and a beta of 1.11. The company's 50-day moving average price is $113.07 and its 200 day moving average price is $155.45. Deckers Outdoor has a twelve month low of $93.72 and a twelve month high of $223.98.

Deckers Outdoor (NYSE:DECK - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The textile maker reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.43. Deckers Outdoor had a net margin of 19.14% and a return on equity of 41.71%. The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the previous year, the company posted $0.82 EPS. Deckers Outdoor's revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts expect 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 repurchase program on Thursday, May 22nd that allows the company to repurchase $2.25 billion in shares. This repurchase authorization allows the textile maker to reacquire up to 11.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors 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 Thursday, March 6th. The stock was sold at an average price of $134.48, for a total value of $40,344.00. Following the sale, the director now directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Deckers Outdoor

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in shares of Deckers Outdoor by 929.0% during the third quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker's stock valued at $206,790,000 after purchasing an additional 1,170,855 shares in the last quarter. PFG Investments LLC raised its stake in shares of Deckers Outdoor by 15.9% during the fourth quarter. PFG Investments LLC now owns 2,920 shares of the textile maker's stock valued at $593,000 after purchasing an additional 400 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new stake in shares of Deckers Outdoor during the fourth quarter valued at about $297,000. Blue Trust Inc. raised its stake in shares of Deckers Outdoor by 626.2% during the fourth quarter. Blue Trust Inc. now owns 5,345 shares of the textile maker's stock valued at $1,086,000 after purchasing an additional 4,609 shares in the last quarter. Finally, Lebenthal Global Advisors LLC bought a new stake in shares of Deckers Outdoor during the fourth quarter valued at about $332,000. 97.79% of the stock is currently owned by institutional investors.

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.