Deckers Outdoor (NYSE:DECK) Reaches New 52-Week High After Analyst Upgrade

Thursday, July 22, 2021 | MarketBeat

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)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: How Do You Calculate Return on Equity (ROE)?


7 Retailers That Are Bucking the E-Commerce Trend

Once again it appears that the death of brick and mortar retail appears to be exaggerated. First-quarter earnings are showing that many retailers that rely on in-person traffic for a considerable chunk of their business are seeing a rebound in sales. And many are planning to open stores in 2021.

This isn’t to say that e-commerce is going away. In fact, a common feature for many of these stocks is that they either developed or enhanced their digital footprint during the pandemic.

This special presentation focuses on retailers that are planning to add to their brick-and-mortar footprint in 2021. And some are planning to do so by a substantial margin. Once again, this doesn’t signal a transformative shift in the overall trend, but it does mean that for the foreseeable future, brick and mortar will have some relevance.

View the "7 Retailers That Are Bucking the E-Commerce Trend".


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.