UBS Group Issues Positive Forecast for Deckers Outdoor (NYSE:DECK) Stock Price

Deckers Outdoor (NYSE:DECK - Get Free Report) had its price objective hoisted by equities researchers at UBS Group from $158.00 to $169.00 in a report released on Friday,Benzinga reports. The firm currently has a "buy" rating on the textile maker's stock. UBS Group's target price would suggest a potential upside of 66.64% from the stock's previous close.

A number of other brokerages also recently commented on DECK. KeyCorp restated a "sector weight" rating and set a $150.00 price objective on shares of Deckers Outdoor in a research report on Friday. Jefferies Financial Group raised their price target on Deckers Outdoor from $180.00 to $200.00 and gave the company a "hold" rating in a research report on Tuesday, January 28th. Raymond James dropped their price objective on shares of Deckers Outdoor from $150.00 to $140.00 and set a "strong-buy" rating for the company in a research note on Friday. Needham & Company LLC set a $150.00 target price on Deckers Outdoor and gave the company a "buy" rating in a report on Wednesday. Finally, Truist Financial reduced their price objective on Deckers Outdoor from $235.00 to $225.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $143.84.

Deckers Outdoor Trading Down 19.6%

Shares of NYSE DECK traded down $24.67 during trading hours on Friday, reaching $101.42. The stock had a trading volume of 11,911,341 shares, compared to its average volume of 2,505,849. Deckers Outdoor has a fifty-two week low of $93.72 and a fifty-two week high of $223.98. The firm has a 50-day moving average of $114.83 and a 200-day moving average of $158.54. The firm has a market cap of $15.39 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 1.68 and a beta of 1.11.

Deckers Outdoor (NYSE:DECK - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The textile maker reported $1.00 EPS for the quarter, beating the consensus estimate of $0.55 by $0.45. Deckers Outdoor had a net margin of 19.14% and a return on equity of 41.71%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. Deckers Outdoor's revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities analysts predict that Deckers Outdoor will post 5.89 EPS for the current year.

Deckers Outdoor declared that its board has approved a share repurchase program on Thursday, May 22nd that allows the company to repurchase $2.25 billion in shares. This repurchase authorization allows the textile maker to reacquire up to 11.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, 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 transaction of $40,344.00. Following the sale, the director now directly owns 10,388 shares in the company, valued at $1,396,978.24. The trade was a 2.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Powers sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $138.84, for a total transaction of $3,471,000.00. Following the transaction, the director now owns 241,777 shares in the company, valued at $33,568,318.68. This represents a 9.37% decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is owned by corporate insiders.

Institutional Trading of Deckers Outdoor

A number of large investors have recently added to or reduced their stakes in DECK. JPMorgan Chase & Co. increased its position 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 in the last quarter. Merit Financial Group LLC acquired a new stake in shares of Deckers Outdoor during the fourth quarter worth approximately $281,000. Ameritas Advisory Services LLC purchased a new position in shares of Deckers Outdoor during the 4th quarter valued at $294,000. Atomi Financial Group Inc. grew its stake in Deckers Outdoor by 6.5% in the fourth quarter. Atomi Financial Group Inc. now owns 1,345 shares of the textile maker's stock valued at $273,000 after purchasing an additional 82 shares in the last quarter. Finally, Mutual Advisors LLC grew its stake in shares of Deckers Outdoor by 5.2% in the 4th 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 in the last quarter. 97.79% of the stock is currently owned by 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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