Deckers Outdoor (NYSE:DECK) Price Target Lowered to $123.00 at Raymond James Financial

Deckers Outdoor (NYSE:DECK - Free Report) had its target price decreased by Raymond James Financial from $140.00 to $123.00 in a research report released on Tuesday,Benzinga reports. Raymond James Financial currently has a strong-buy rating on the textile maker's stock.

DECK has been the subject of a number of other reports. The Goldman Sachs Group assumed coverage on Deckers Outdoor in a research note on Wednesday, July 2nd. They set a "sell" rating and a $90.00 price target for the company. Stifel Nicolaus lowered their price target on Deckers Outdoor from $185.00 to $127.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Argus assumed coverage on shares of Deckers Outdoor in a research report on Friday, June 13th. They set a "hold" rating on the stock. Wells Fargo & Company dropped their price target on shares of Deckers Outdoor from $100.00 to $90.00 and set an "equal weight" rating for the company in a research note on Monday. Finally, Barclays reaffirmed an "overweight" rating and set a $128.00 price objective (down previously from $129.00) on shares of Deckers Outdoor in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $132.45.

Deckers Outdoor Stock Down 2.9%

Shares of DECK stock traded down $3.13 during mid-day trading on Tuesday, hitting $104.96. 8,420,379 shares of the company's stock were exchanged, compared to its average volume of 3,344,424. Deckers Outdoor has a fifty-two week low of $93.72 and a fifty-two week high of $223.98. The stock has a 50-day simple moving average of $106.87 and a two-hundred day simple moving average of $131.06. The stock has a market cap of $15.69 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 7.09 and a beta of 0.99.

Deckers Outdoor (NYSE:DECK - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The textile maker reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.25. Deckers Outdoor had a return on equity of 41.17% and a net margin of 19.49%. During the same period in the prior year, the company earned $4.52 earnings per share. Deckers Outdoor's revenue for the quarter was up 16.9% on a year-over-year basis. As a group, analysts anticipate that Deckers Outdoor will post 5.89 earnings per share for the current fiscal year.

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

Insider Transactions at Deckers Outdoor

In related news, Director Maha Saleh Ibrahim sold 300 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $109.08, for a total value of $32,724.00. Following the completion of the sale, the director directly owned 10,681 shares of the company's stock, valued at $1,165,083.48. The trade was a 2.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Angela Ogbechie sold 6,244 shares of Deckers Outdoor stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $103.89, for a total transaction of $648,689.16. Following the completion of the transaction, the insider owned 19,980 shares in the company, valued at approximately $2,075,722.20. This represents a 23.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.40% of the company's stock.

Hedge Funds Weigh In On Deckers Outdoor

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Revolve Wealth Partners LLC acquired a new position in shares of Deckers Outdoor during the fourth quarter worth approximately $247,000. Commonwealth Equity Services LLC boosted its stake in Deckers Outdoor by 17.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 9,120 shares of the textile maker's stock valued at $1,852,000 after purchasing an additional 1,346 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in shares of Deckers Outdoor by 250.0% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 168 shares of the textile maker's stock valued at $34,000 after buying an additional 120 shares during the last quarter. TD Private Client Wealth LLC lifted its position in shares of Deckers Outdoor by 11.8% in the 4th quarter. TD Private Client Wealth LLC now owns 1,065 shares of the textile maker's stock worth $216,000 after acquiring an additional 112 shares during the period. Finally, Mizuho Securities USA LLC lifted its position in Deckers Outdoor by 45.7% in the fourth quarter. Mizuho Securities USA LLC now owns 14,399 shares of the textile maker's stock worth $2,924,000 after purchasing an additional 4,513 shares during the period. Hedge funds and other institutional investors own 97.79% of the company's stock.

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.