Zacks Research Boosts Earnings Estimates for Deckers Outdoor

Key Points

• Zacks Research has raised its FY2028 earnings estimate for Deckers Outdoor to $7.41 per share, up from $7.12, while the current consensus estimate is $5.89 per share.
• Deckers Outdoor reported earnings of $0.93 per share for the last quarter, exceeding estimates and achieving a 16.9% increase in revenue year-over-year.
• The company has initiated a stock repurchase plan allowing for the buyback of up to $2.25 billion in outstanding shares, indicating management believes the stock is undervalued.

Deckers Outdoor Corporation (NYSE:DECK - Free Report) - Equities research analysts at Zacks Research upped their FY2028 earnings estimates for shares of Deckers Outdoor in a research report issued to clients and investors on Thursday, August 7th. Zacks Research analyst R. Department now anticipates that the textile maker will post earnings of $7.41 per share for the year, up from their prior forecast of $7.12. The consensus estimate for Deckers Outdoor's current full-year earnings is $5.89 per share.

Deckers Outdoor (NYSE:DECK - Get Free Report) last announced its earnings results on Thursday, July 24th. The textile maker reported $0.93 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.25. The business had revenue of $964.54 million during the quarter, compared to analyst estimates of $901.45 million. Deckers Outdoor had a net margin of 19.42% and a return on equity of 40.49%. The company's quarterly revenue was up 16.9% compared to the same quarter last year. During the same period in the previous year, the business earned $4.52 EPS.

A number of other equities research analysts have also weighed in on the stock. Telsey Advisory Group reiterated a "market perform" rating and set a $120.00 target price on shares of Deckers Outdoor in a research note on Friday, July 25th. Cowen reiterated a "buy" rating on shares of Deckers Outdoor in a research note on Tuesday, May 20th. Needham & Company LLC reiterated a "buy" rating and set a $128.00 target price (up from $120.00) on shares of Deckers Outdoor in a research note on Wednesday, July 23rd. Wells Fargo & Company upped their price objective on Deckers Outdoor from $90.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Finally, TD Securities upped their price objective on Deckers Outdoor from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $137.50.

Deckers Outdoor Trading Down 0.3%

Shares of DECK opened at $101.59 on Monday. The firm has a market cap of $15.07 billion, a PE ratio of 15.58, a P/E/G ratio of 3.88 and a beta of 0.99. The firm has a fifty day simple moving average of $104.81 and a two-hundred day simple moving average of $121.41. Deckers Outdoor has a 1-year low of $93.72 and a 1-year high of $223.98.

Deckers Outdoor announced that its Board of Directors has initiated a stock repurchase 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 repurchase up to 11.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Cindy L. Davis acquired 1,825 shares of the company's stock in a transaction on Friday, June 6th. The stock was acquired at an average price of $109.76 per share, with a total value of $200,312.00. Following the acquisition, the director directly owned 13,340 shares of the company's stock, valued at approximately $1,464,198.40. This trade represents a 15.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Maha Saleh Ibrahim sold 300 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $109.08, for a total transaction of $32,724.00. Following the transaction, the director directly owned 10,681 shares of the company's stock, valued at $1,165,083.48. This trade represents a 2.73% decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Gerber Kawasaki Wealth & Investment Management boosted its holdings in shares of Deckers Outdoor by 4.6% during the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 1,902 shares of the textile maker's stock valued at $386,000 after purchasing an additional 84 shares during the last quarter. Horizon Investments LLC raised its position in shares of Deckers Outdoor by 4.6% during the 1st quarter. Horizon Investments LLC now owns 2,179 shares of the textile maker's stock valued at $244,000 after buying an additional 96 shares in the last quarter. Cumberland Partners Ltd raised its position in shares of Deckers Outdoor by 0.4% during the 1st quarter. Cumberland Partners Ltd now owns 27,991 shares of the textile maker's stock valued at $3,130,000 after buying an additional 98 shares in the last quarter. Utah Retirement Systems raised its position in shares of Deckers Outdoor by 0.4% during the 4th quarter. Utah Retirement Systems now owns 25,136 shares of the textile maker's stock valued at $5,105,000 after buying an additional 100 shares in the last quarter. Finally, Park Place Capital Corp raised its position in shares of Deckers Outdoor by 14.9% during the 2nd quarter. Park Place Capital Corp now owns 771 shares of the textile maker's stock valued at $81,000 after buying an additional 100 shares in the last quarter. 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.

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.