Deckers Outdoor (NYSE:DECK) Shares Gap Up on Strong Earnings

Deckers Outdoor Co. (NYSE:DECK) shares gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $152.04, but opened at $169.95. Deckers Outdoor shares last traded at $170.24, with a volume of 2,447,556 shares changing hands.

The textile maker reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.37. Deckers Outdoor had a net margin of 18.45% and a return on equity of 40.52%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the firm posted $1.14 earnings per share. The company’s revenue was up 20.1% on a year-over-year basis.

Wall Street Analysts Forecast Growth

DECK has been the subject of several research reports. Guggenheim began coverage on Deckers Outdoor in a research note on Wednesday, October 9th. They issued a “neutral” rating for the company. StockNews.com cut Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 25th. Seaport Res Ptn lowered shares of Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 7th. Robert W. Baird lifted their price target on shares of Deckers Outdoor from $180.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Wells Fargo & Company increased their price objective on shares of Deckers Outdoor from $165.00 to $170.00 and gave the company an “equal weight” rating in a report on Friday. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $135.25.

Insiders Place Their Bets

In other news, CFO Steven J. Fasching sold 9,198 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $166.67, for a total transaction of $1,533,030.66. Following the sale, the chief financial officer now owns 161,838 shares of the company’s stock, valued at $26,973,539.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Deckers Outdoor news, Director David Powers sold 140,832 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 2,450,808 shares in the company, valued at approximately $58,756,760.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Steven J. Fasching sold 9,198 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $166.67, for a total value of $1,533,030.66. Following the completion of the sale, the chief financial officer now owns 161,838 shares in the company, valued at approximately $26,973,539.46. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Deckers Outdoor

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

Deckers Outdoor Stock Performance

The company has a fifty day moving average price of $102.28 and a two-hundred day moving average price of $52.18. The company has a market cap of $4.34 billion, a P/E ratio of 5.85, a PEG ratio of 2.85 and a beta of 1.05.

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.