Deckers Outdoor (NYSE:DECK) Earns Buy Rating from Analysts at Needham & Company LLC

Needham & Company LLC started coverage on shares of Deckers Outdoor (NYSE:DECK) in a research note published on Friday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $218.00 price objective on the textile maker’s stock.

A number of other analysts have also recently weighed in on the stock. Bank of America raised their target price on shares of Deckers Outdoor from $170.00 to $182.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Piper Sandler set a $166.00 price objective on Deckers Outdoor in a research note on Thursday, October 17th. Evercore ISI upped their target price on Deckers Outdoor from $185.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Robert W. Baird lifted their price target on Deckers Outdoor from $180.00 to $195.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, Wells Fargo & Company lifted their price target on Deckers Outdoor from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $153.53.

Deckers Outdoor Stock Performance

Shares of DECK stock opened at $196.49 on Friday. Deckers Outdoor has a 1 year low of $105.83 and a 1 year high of $198.08. The business’s fifty day moving average is $163.85 and its 200-day moving average is $74.68. The stock has a market cap of $29.85 billion, a PE ratio of 34.04, a price-to-earnings-growth ratio of 2.70 and a beta of 1.05.

Deckers Outdoor (NYSE:DECK) last released its earnings results on Thursday, October 24th. The textile maker reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.35. Deckers Outdoor had a return on equity of 41.48% and a net margin of 18.95%. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the company earned $1.14 earnings per share. Deckers Outdoor’s revenue was up 20.1% compared to the same quarter last year. Equities research analysts predict that Deckers Outdoor will post 5.48 earnings per share for the current year.

Insider Buying and Selling at Deckers Outdoor

In related news, Director Bonita C. Stewart sold 4,500 shares of Deckers Outdoor stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $186.43, for a total value of $838,935.00. Following the completion of the sale, the director now owns 40,733 shares of the company’s stock, valued at approximately $7,593,853.19. The trade was a 9.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Powers sold 140,832 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $23.97, for a total transaction of $3,376,368.96. Following the transaction, the director now directly owns 2,450,808 shares in the company, valued at $58,756,760.24. The trade was a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 210,492 shares of company stock worth $15,590,797 over the last 90 days. 0.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Deckers Outdoor

A number of institutional investors and hedge funds have recently made changes to their positions in DECK. ClariVest Asset Management LLC raised its stake in shares of Deckers Outdoor by 0.4% in the 2nd quarter. ClariVest Asset Management LLC now owns 3,474 shares of the textile maker’s stock valued at $3,363,000 after acquiring an additional 14 shares in the last quarter. U S Global Investors Inc. lifted its stake in shares of Deckers Outdoor by 1.5% in the second quarter. U S Global Investors Inc. now owns 995 shares of the textile maker’s stock worth $963,000 after buying an additional 15 shares during the last quarter. Arkadios Wealth Advisors boosted its holdings in shares of Deckers Outdoor by 1.4% during the 2nd quarter. Arkadios Wealth Advisors now owns 1,341 shares of the textile maker’s stock worth $1,298,000 after buying an additional 19 shares during the period. Sunbelt Securities Inc. grew its stake in Deckers Outdoor by 7.5% in the 2nd quarter. Sunbelt Securities Inc. now owns 273 shares of the textile maker’s stock valued at $264,000 after buying an additional 19 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its holdings in Deckers Outdoor by 5.2% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 406 shares of the textile maker’s stock worth $393,000 after acquiring an additional 20 shares during the period. Institutional investors and hedge funds own 97.79% of the company’s stock.

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.