Deckers Outdoor (NYSE:DECK) Shares Gap Down Following Analyst Downgrade

Deckers Outdoor Co. (NYSE:DECK) shares gapped down prior to trading on Friday after Truist Financial lowered their price target on the stock from $235.00 to $225.00. The stock had previously closed at $223.11, but opened at $196.10. Truist Financial currently has a buy rating on the stock. Deckers Outdoor shares last traded at $188.97, with a volume of 2,316,301 shares traded.

A number of other research firms have also issued reports on DECK. Needham & Company LLC reissued a “buy” rating and issued a $246.00 price target on shares of Deckers Outdoor in a research report on Friday. Citigroup increased their price target on shares of Deckers Outdoor from $178.00 to $215.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Stifel Nicolaus raised their price objective on shares of Deckers Outdoor from $147.83 to $181.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Seaport Res Ptn downgraded Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a report on Monday, October 7th. Finally, TD Cowen increased their price target on Deckers Outdoor from $178.00 to $185.00 and gave the company a “buy” rating in a report on Friday, October 25th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $194.35.

Insider Buying and Selling at Deckers Outdoor

In other news, Director Maha Saleh Ibrahim sold 300 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $200.80, for a total transaction of $60,240.00. Following the completion of the transaction, the director now directly owns 10,222 shares of the company’s stock, valued at $2,052,577.60. This trade represents a 2.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Caroti Stefano sold 14,274 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $208.34, for a total transaction of $2,973,845.16. Following the transaction, the chief executive officer now directly owns 259,266 shares of the company’s stock, valued at $54,015,478.44. This represents a 5.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,758 shares of company stock worth $13,506,861. Company insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Deckers Outdoor

Several hedge funds have recently added to or reduced their stakes in DECK. FMR LLC increased its position in shares of Deckers Outdoor by 499.2% in the third 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 stake in shares of 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 acquiring an additional 5,511,513 shares during the period. Geode Capital Management LLC increased its holdings in shares of Deckers Outdoor by 509.1% during the third 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. increased its holdings in shares of Deckers Outdoor by 929.0% during the third quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker’s stock valued at $206,790,000 after acquiring an additional 1,170,855 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Deckers Outdoor by 529.0% during the third 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 valued at $203,674,000 after acquiring an additional 1,074,263 shares in the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

Deckers Outdoor Price Performance

The stock has a market cap of $28.25 billion, a P/E ratio of 32.71, a P/E/G ratio of 2.41 and a beta of 1.08. The company has a fifty day moving average price of $206.19 and a 200 day moving average price of $135.05.

Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings results on Thursday, February 6th. The textile maker reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $0.56. Deckers Outdoor had a return on equity of 41.48% and a net margin of 18.95%. As a group, sell-side analysts expect that Deckers Outdoor Co. will post 5.62 earnings per share for the current fiscal year.

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.