Deckers Outdoor Co. (NYSE:DECK)'s share price reached a new 52-week high during mid-day trading on Thursday after Telsey Advisory Group raised their price target on the stock from $375.00 to $425.00. Telsey Advisory Group currently has an outperform rating on the stock. Deckers Outdoor traded as high as $396.33 and last traded at $394.44, with a volume of 2601 shares trading hands. The stock had previously closed at $387.00.
DECK has been the topic of a number of other reports. Robert W. Baird lifted their price objective on Deckers Outdoor from $415.00 to $440.00 and gave the company an "outperform" rating in a research report on Monday, June 14th. Zacks Investment Research cut Deckers Outdoor from a "buy" rating to a "hold" rating and set a $363.00 price target on the stock. in a report on Tuesday, May 4th. BTIG Research boosted their price target on Deckers Outdoor from $420.00 to $447.00 and gave the stock a "buy" rating in a report on Wednesday, May 26th. Pivotal Research boosted their price target on Deckers Outdoor from $365.00 to $390.00 and gave the stock a "buy" rating in a report on Monday, May 17th. Finally, Stifel Nicolaus boosted their price target on Deckers Outdoor from $400.00 to $425.00 and gave the stock a "buy" rating in a report on Friday, May 21st. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Deckers Outdoor currently has an average rating of "Buy" and a consensus price target of $375.80.
In other Deckers Outdoor news, CEO David Powers sold 2,225 shares of the company's stock in a transaction on Friday, July 9th. The stock was sold at an average price of $387.68, for a total value of $862,588.00. Following the transaction, the chief executive officer now owns 105,479 shares of the company's stock, valued at approximately $40,892,098.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO David E. Lafitte sold 500 shares of the company's stock in a transaction on Friday, July 9th. The shares were sold at an average price of $387.68, for a total value of $193,840.00. Following the completion of the transaction, the chief operating officer now directly owns 27,624 shares in the company, valued at approximately $10,709,272.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,225 shares of company stock worth $1,226,393. Corporate insiders own 1.33% of the company's stock.
Several hedge funds have recently modified their holdings of DECK. Norges Bank purchased a new stake in shares of Deckers Outdoor in the 4th quarter worth $96,912,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Deckers Outdoor by 2,078.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 269,813 shares of the textile maker's stock worth $77,377,000 after buying an additional 257,429 shares during the period. Steadfast Capital Management LP lifted its stake in shares of Deckers Outdoor by 27.9% during the 4th quarter. Steadfast Capital Management LP now owns 855,052 shares of the textile maker's stock worth $245,212,000 after purchasing an additional 186,546 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Deckers Outdoor by 2,047.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 186,800 shares of the textile maker's stock worth $53,571,000 after purchasing an additional 178,100 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in shares of Deckers Outdoor by 4.9% during the 1st quarter. BlackRock Inc. now owns 3,480,963 shares of the textile maker's stock worth $1,150,179,000 after purchasing an additional 164,154 shares during the last quarter. Institutional investors and hedge funds own 96.56% of the company's stock.
The company has a market cap of $11.03 billion, a PE ratio of 28.73, a PEG ratio of 1.52 and a beta of 0.80. The company has a 50 day simple moving average of $353.01.
Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings data on Wednesday, May 19th. The textile maker reported $1.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.60. The firm had revenue of $561.20 million during the quarter, compared to analysts' expectations of $434.41 million. Deckers Outdoor had a return on equity of 28.64% and a net margin of 15.03%. The firm's quarterly revenue was up 49.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.57 EPS. On average, research analysts predict that Deckers Outdoor Co. will post 14.95 EPS for the current year.
Deckers Outdoor announced that its board has approved a share repurchase plan on Thursday, May 20th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the textile maker to purchase up to 8.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its stock is undervalued.
About Deckers Outdoor (NYSE:DECK)
Deckers Outdoor Corporation, together with its subsidiaries, designs, markets, and distributes footwear, apparel, and accessories for casual lifestyle use and high-performance activities. The company offers premium footwear, apparel, and accessories under the UGG brand name; sandals, shoes, and boots under the Teva brand name; and relaxed casual shoes and sandals under the Sanuk brand name.
See Also: Understanding Price to Earnings Ratio (PE)
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