Deckers Outdoor (NYSE:DECK) Rating Lowered to Neutral at Bank of America

Bank of America downgraded shares of Deckers Outdoor (NYSE:DECK - Free Report) from a buy rating to a neutral rating in a research note released on Thursday morning, Marketbeat reports. The brokerage currently has $860.00 target price on the textile maker's stock, down from their previous target price of $875.00.

Several other research analysts have also recently weighed in on DECK. Raymond James increased their price objective on Deckers Outdoor from $585.00 to $845.00 and gave the stock an outperform rating in a research report on Tuesday, January 30th. Truist Financial reiterated a hold rating and set a $864.00 price objective (down previously from $983.00) on shares of Deckers Outdoor in a research report on Wednesday, April 10th. Stifel Nicolaus raised their price target on Deckers Outdoor from $709.00 to $775.00 and gave the stock a hold rating in a research report on Friday, February 2nd. KeyCorp initiated coverage on Deckers Outdoor in a research report on Wednesday, February 7th. They issued an overweight rating and a $960.00 price target on the stock. Finally, UBS Group raised their price target on Deckers Outdoor from $950.00 to $1,150.00 and gave the stock a buy rating in a research report on Friday, February 2nd. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Deckers Outdoor has an average rating of Moderate Buy and a consensus target price of $889.00.

Deckers Outdoor Price Performance

Deckers Outdoor stock traded down $44.59 during mid-day trading on Thursday, hitting $807.12. 485,436 shares of the company's stock traded hands, compared to its average volume of 432,465. The firm has a 50 day simple moving average of $882.86 and a two-hundred day simple moving average of $744.28. Deckers Outdoor has a fifty-two week low of $424.36 and a fifty-two week high of $956.17. The stock has a market cap of $20.72 billion, a price-to-earnings ratio of 29.03, a P/E/G ratio of 1.47 and a beta of 1.01.

Deckers Outdoor (NYSE:DECK - Get Free Report) last announced its quarterly earnings results on Thursday, February 1st. The textile maker reported $15.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.40 by $3.71. Deckers Outdoor had a return on equity of 38.77% and a net margin of 17.57%. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the firm posted $10.48 EPS. The company's quarterly revenue was up 16.0% on a year-over-year basis. On average, research analysts anticipate that Deckers Outdoor will post 26.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Deckers Outdoor

In other news, CEO David Powers sold 5,993 shares of Deckers Outdoor stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $922.85, for a total transaction of $5,530,640.05. Following the sale, the chief executive officer now directly owns 98,218 shares of the company's stock, valued at $90,640,481.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Bonita C. Stewart sold 3,500 shares of Deckers Outdoor stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $871.11, for a total transaction of $3,048,885.00. Following the sale, the director now directly owns 8,863 shares of the company's stock, valued at $7,720,647.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Powers sold 5,993 shares of Deckers Outdoor stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $922.85, for a total value of $5,530,640.05. Following the completion of the transaction, the chief executive officer now directly owns 98,218 shares in the company, valued at $90,640,481.30. The disclosure for this sale can be found here. Insiders have sold a total of 30,464 shares of company stock worth $26,229,683 over the last 90 days. Insiders own 0.70% of the company's stock.

Hedge Funds Weigh In On Deckers Outdoor

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Strategy Asset Managers LLC acquired a new position in shares of Deckers Outdoor in the first quarter worth approximately $275,000. V Square Quantitative Management LLC lifted its stake in Deckers Outdoor by 71.0% in the first quarter. V Square Quantitative Management LLC now owns 583 shares of the textile maker's stock valued at $549,000 after buying an additional 242 shares during the period. Simplicity Wealth LLC acquired a new position in Deckers Outdoor in the first quarter valued at approximately $201,000. Assenagon Asset Management S.A. increased its holdings in shares of Deckers Outdoor by 395.6% during the first quarter. Assenagon Asset Management S.A. now owns 50,027 shares of the textile maker's stock valued at $47,088,000 after acquiring an additional 39,932 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Deckers Outdoor by 54.6% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 184 shares of the textile maker's stock valued at $173,000 after acquiring an additional 65 shares in the last quarter. 97.79% of the stock is 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 and apparel for ultra-runners and athletes under the Hoka brand; and sandals, shoes, and boots under the Teva brand name.