Robert W. Baird Cuts Deckers Outdoor (NYSE:DECK) Price Target to $140.00

Deckers Outdoor (NYSE:DECK - Get Free Report) had its target price reduced by investment analysts at Robert W. Baird from $160.00 to $140.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the textile maker's stock. Robert W. Baird's price objective would indicate a potential upside of 36.30% from the company's previous close.

Several other analysts also recently issued reports on DECK. Evercore ISI reissued an "in-line" rating and issued a $110.00 price objective (down previously from $235.00) on shares of Deckers Outdoor in a research note on Friday. Needham & Company LLC set a $150.00 price target on Deckers Outdoor and gave the stock a "buy" rating in a research note on Wednesday. Cowen restated a "buy" rating on shares of Deckers Outdoor in a report on Tuesday. Wells Fargo & Company reduced their target price on Deckers Outdoor from $120.00 to $100.00 and set an "equal weight" rating on the stock in a research note on Friday. Finally, Guggenheim reissued a "neutral" rating on shares of Deckers Outdoor in a research note on Friday, January 31st. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $134.68.

Deckers Outdoor Trading Down 18.5%

NYSE:DECK traded down $23.38 during midday trading on Friday, hitting $102.71. 13,367,886 shares of the company traded hands, compared to its average volume of 2,511,560. The firm has a market capitalization of $15.59 billion, a P/E ratio of 16.65, a P/E/G ratio of 1.68 and a beta of 1.11. The firm's fifty day moving average is $114.83 and its 200-day moving average is $158.54. Deckers Outdoor has a 12-month low of $93.72 and a 12-month high of $223.98.

Deckers Outdoor (NYSE:DECK - Get Free Report) last posted 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. Deckers Outdoor had a net margin of 19.14% and a return on equity of 41.71%. The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the previous year, the business posted $0.82 earnings per share. The business's revenue was up 6.5% compared to the same quarter last year. On average, research analysts expect that Deckers Outdoor will post 5.89 EPS for the current fiscal year.

Deckers Outdoor declared that its Board of Directors has initiated a stock buyback plan on Thursday, May 22nd that allows the company to buyback $2.25 billion in outstanding shares. This buyback authorization allows the textile maker to purchase up to 11.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, Director David Powers sold 25,000 shares of Deckers Outdoor stock in a transaction that occurred on Friday, February 28th. The shares were 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. The trade was a 9.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Maha Saleh Ibrahim sold 300 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $134.48, for a total transaction of $40,344.00. Following the transaction, the director now owns 10,388 shares of the company's stock, valued at approximately $1,396,978.24. This trade represents a 2.81% decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Deckers Outdoor

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Deckers Outdoor by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 17,747,418 shares of the textile maker's stock worth $1,984,339,000 after purchasing an additional 107,635 shares in the last quarter. Geode Capital Management LLC raised its stake in Deckers Outdoor by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 4,104,954 shares of the textile maker's stock valued at $831,723,000 after buying an additional 45,035 shares during the last quarter. Norges Bank acquired a new stake in Deckers Outdoor in the fourth quarter worth about $392,583,000. Northern Trust Corp grew its stake in shares of Deckers Outdoor by 6.2% during the first quarter. Northern Trust Corp now owns 1,680,558 shares of the textile maker's stock worth $187,903,000 after acquiring an additional 98,856 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Deckers Outdoor by 6.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,520,461 shares of the textile maker's stock valued at $170,003,000 after acquiring an additional 97,312 shares in the last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

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, apparel, and accessories for ultra-runners and athletes under the HOKA brand name; and sandals, shoes, and boots under the Teva brand name.

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 contact@marketbeat.com.