Wells Fargo & Company Raises Deckers Outdoor (NYSE:DECK) Price Target to $215.00

Deckers Outdoor (NYSE:DECK) had its price objective upped by Wells Fargo & Company from $170.00 to $215.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the textile maker’s stock.

A number of other equities research analysts also recently weighed in on the stock. Truist Financial raised their target price on shares of Deckers Outdoor from $205.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. UBS Group raised their price objective on shares of Deckers Outdoor from $226.00 to $232.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Telsey Advisory Group upped their target price on shares of Deckers Outdoor from $183.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Piper Sandler set a $166.00 target price on Deckers Outdoor in a research note on Thursday, October 17th. Finally, Guggenheim started coverage on Deckers Outdoor in a research note on Wednesday, October 9th. They set a “neutral” rating for the company. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.76.

Deckers Outdoor Price Performance

DECK opened at $207.60 on Friday. Deckers Outdoor has a one year low of $115.64 and a one year high of $214.70. The firm has a market capitalization of $31.54 billion, a P/E ratio of 36.51, a price-to-earnings-growth ratio of 2.87 and a beta of 1.08. The company has a fifty day moving average price of $195.30 and a 200-day moving average price of $116.91.

Deckers Outdoor (NYSE:DECK) last posted its earnings results on Thursday, October 24th. The textile maker reported $1.59 EPS for the quarter, topping the consensus estimate of $1.24 by $0.35. Deckers Outdoor had a return on equity of 41.48% and a net margin of 18.95%. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the business earned $1.14 earnings per share. The firm’s revenue was up 20.1% on a year-over-year basis. On average, analysts expect that Deckers Outdoor will post 5.49 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Angela Ogbechie sold 1,278 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $163.24, for a total transaction of $208,620.72. Following the transaction, the insider now owns 29,628 shares in the company, valued at $4,836,474.72. The trade was a 4.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bonita C. Stewart sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $175.42, for a total value of $1,578,780.00. Following the transaction, the director now directly owns 44,988 shares of the company’s stock, valued at $7,891,794.96. The trade was a 16.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,036 shares of company stock valued at $13,715,482 over the last three months. 0.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DECK. FMR LLC lifted its position in shares of Deckers Outdoor by 499.2% in the 3rd quarter. FMR LLC now owns 22,869,485 shares of the textile maker’s stock worth $3,646,539,000 after purchasing an additional 19,053,113 shares during the period. State Street Corp lifted its holdings in Deckers Outdoor by 513.8% in the third quarter. State Street Corp now owns 6,584,305 shares of the textile maker’s stock worth $1,049,867,000 after buying an additional 5,511,513 shares during the period. Geode Capital Management LLC boosted its position in Deckers Outdoor by 509.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,059,919 shares of the textile maker’s stock valued at $646,316,000 after acquiring an additional 3,393,420 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Deckers Outdoor by 929.0% during the 3rd 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Deckers Outdoor by 529.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,277,355 shares of the textile maker’s stock worth $203,674,000 after acquiring an additional 1,074,263 shares in 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.