Deckers Outdoor (NYSE:DECK) Hits New 12-Month High After Analyst Upgrade

Deckers Outdoor Co. (NYSE:DECK) reached a new 52-week high during trading on Wednesday after Jefferies Financial Group raised their price target on the stock from $180.00 to $200.00. Jefferies Financial Group currently has a hold rating on the stock. Deckers Outdoor traded as high as $219.82 and last traded at $218.72, with a volume of 211600 shares trading hands. The stock had previously closed at $215.92.

DECK has been the subject of several other research reports. Barclays raised their price target on shares of Deckers Outdoor from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Guggenheim initiated coverage on Deckers Outdoor in a research note on Wednesday, October 9th. They set a “neutral” rating for the company. Bank of America increased their price target on Deckers Outdoor from $182.00 to $217.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Truist Financial boosted their price objective on Deckers Outdoor from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Robert W. Baird raised their target price on shares of Deckers Outdoor from $195.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.19.

Insider Buying and Selling

In related news, insider Angela Ogbechie sold 1,278 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $163.24, for a total value of $208,620.72. Following the completion of the sale, the insider now owns 29,628 shares in the company, valued at $4,836,474.72. This trade represents a 4.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas Garcia sold 18,000 shares of Deckers Outdoor stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $175.28, for a total value of $3,155,040.00. Following the completion of the sale, the insider now owns 63,642 shares in the company, valued at approximately $11,155,169.76. This trade represents a 22.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,036 shares of company stock worth $13,715,482 in the last 90 days. Company insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Deckers Outdoor

Hedge funds and other institutional investors have recently bought and sold shares of the company. Global Trust Asset Management LLC purchased a new stake in shares of Deckers Outdoor during the fourth quarter worth about $31,000. Solstein Capital LLC increased its position in Deckers Outdoor by 500.0% during the 3rd quarter. Solstein Capital LLC now owns 162 shares of the textile maker’s stock worth $26,000 after purchasing an additional 135 shares in the last quarter. Bell Investment Advisors Inc raised its stake in shares of Deckers Outdoor by 521.4% in the 3rd quarter. Bell Investment Advisors Inc now owns 174 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 146 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in Deckers Outdoor by 2,000.0% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 210 shares of the textile maker’s stock valued at $32,000 after purchasing an additional 200 shares during the period. Finally, Rakuten Securities Inc. raised its holdings in shares of Deckers Outdoor by 397.7% during the 3rd quarter. Rakuten Securities Inc. now owns 219 shares of the textile maker’s stock valued at $35,000 after buying an additional 175 shares during the period. 97.79% of the stock is owned by institutional investors and hedge funds.

Deckers Outdoor Price Performance

The business’s 50-day moving average price is $204.50 and its 200 day moving average price is $133.84. The firm has a market capitalization of $33.35 billion, a price-to-earnings ratio of 38.58, a PEG ratio of 2.98 and a beta of 1.08.

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.