Raymond James Issues Pessimistic Forecast for Deckers Outdoor (NYSE:DECK) Stock Price

Deckers Outdoor (NYSE:DECK - Get Free Report) had its target price dropped by equities researchers at Raymond James from $150.00 to $140.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a "strong-buy" rating on the textile maker's stock. Raymond James' price objective would suggest a potential upside of 40.10% from the company's current price.

DECK has been the subject of several other research reports. Stifel Nicolaus reduced their price target on shares of Deckers Outdoor from $185.00 to $127.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. Truist Financial reduced their target price on Deckers Outdoor from $235.00 to $225.00 and set a "buy" rating for the company in a report on Friday, January 31st. Citigroup decreased their price target on Deckers Outdoor from $215.00 to $150.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Piper Sandler dropped their price objective on Deckers Outdoor from $210.00 to $100.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, Barclays reiterated an "overweight" rating and issued a $128.00 price objective (down from $129.00) on shares of Deckers Outdoor in a report on Thursday. Twelve research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $144.31.

Deckers Outdoor Stock Performance

Shares of DECK traded down $26.16 during trading hours on Friday, hitting $99.93. The company had a trading volume of 9,004,891 shares, compared to its average volume of 2,496,441. The stock has a market capitalization of $15.17 billion, a price-to-earnings ratio of 16.16, a P/E/G ratio of 1.68 and a beta of 1.11. The firm has a fifty day moving average price of $114.83 and a 200-day moving average price of $158.54. Deckers Outdoor has a 52-week low of $93.72 and a 52-week high of $223.98.

Deckers Outdoor (NYSE:DECK - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The textile maker reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.45. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Deckers Outdoor had a net margin of 19.14% and a return on equity of 41.71%. Deckers Outdoor's revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business earned $0.82 EPS. Research analysts anticipate that Deckers Outdoor will post 5.89 earnings per share for the current fiscal year.

Deckers Outdoor declared that its Board of Directors has authorized a stock buyback program on Thursday, May 22nd that allows the company to buyback $2.25 billion in outstanding shares. This buyback authorization allows the textile maker to reacquire up to 11.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its stock is undervalued.

Insider Activity

In other news, Director David Powers sold 25,000 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $138.84, for a total value of $3,471,000.00. Following the transaction, the director now owns 241,777 shares of the company's stock, valued at $33,568,318.68. This trade represents a 9.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Maha Saleh Ibrahim sold 300 shares of Deckers Outdoor stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $134.48, for a total value of $40,344.00. Following the transaction, the director now directly owns 10,388 shares in the company, valued at approximately $1,396,978.24. The trade was a 2.81% 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.

Institutional Investors Weigh In On Deckers Outdoor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of Deckers Outdoor by 929.0% in the third quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker's stock worth $206,790,000 after acquiring an additional 1,170,855 shares during the period. Merit Financial Group LLC purchased a new position in Deckers Outdoor in the 4th quarter worth approximately $281,000. Ameritas Advisory Services LLC bought a new position in Deckers Outdoor in the 4th quarter worth approximately $294,000. Atomi Financial Group Inc. grew its holdings in Deckers Outdoor by 6.5% during the 4th quarter. Atomi Financial Group Inc. now owns 1,345 shares of the textile maker's stock valued at $273,000 after buying an additional 82 shares in the last quarter. Finally, Mutual Advisors LLC raised its position in shares of Deckers Outdoor by 5.2% during the fourth quarter. Mutual Advisors LLC now owns 2,296 shares of the textile maker's stock valued at $478,000 after buying an additional 114 shares during the last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

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.

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