Deckers Outdoor (NYSE:DECK) Price Target Raised to $217.00 at Bank of America

Deckers Outdoor (NYSE:DECK) had its price objective raised by Bank of America from $182.00 to $217.00 in a research note released on Thursday,Benzinga reports. Bank of America currently has a neutral rating on the textile maker’s stock.

Several other equities analysts also recently commented on DECK. Guggenheim assumed coverage on Deckers Outdoor in a research note on Wednesday, October 9th. They issued a “neutral” rating on the stock. Wells Fargo & Company increased their price target on Deckers Outdoor from $170.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, January 10th. TD Cowen boosted their price objective on Deckers Outdoor from $178.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Truist Financial increased their target price on shares of Deckers Outdoor from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Piper Sandler set a $166.00 price target on shares of Deckers Outdoor in a research report on Thursday, October 17th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $182.20.

Deckers Outdoor Price Performance

NYSE DECK opened at $216.90 on Thursday. The business’s fifty day moving average is $203.00 and its 200-day moving average is $130.43. The stock has a market capitalization of $32.95 billion, a price-to-earnings ratio of 38.14, a PEG ratio of 2.98 and a beta of 1.08. Deckers Outdoor has a one year low of $125.15 and a one year high of $218.92.

Deckers Outdoor (NYSE:DECK) last released its earnings results on Thursday, October 24th. The textile maker reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.35. Deckers Outdoor had a net margin of 18.95% and a return on equity of 41.48%. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the company earned $1.14 earnings per share. The company’s quarterly revenue was up 20.1% on a year-over-year basis. Research analysts expect that Deckers Outdoor will post 5.56 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Thomas Garcia sold 18,000 shares of the stock in a transaction 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 transaction, the insider now owns 63,642 shares of the company’s stock, valued at $11,155,169.76. This represents a 22.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Maha Saleh Ibrahim sold 300 shares of Deckers Outdoor stock in a transaction on Friday, December 6th. The stock was sold at an average price of $200.80, for a total transaction of $60,240.00. Following the sale, the director now directly owns 10,222 shares of the company’s stock, valued at $2,052,577.60. This represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,036 shares of company stock worth $13,715,482. Corporate insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Deckers Outdoor

A number of large investors have recently added to or reduced their stakes in DECK. FMR LLC raised its holdings in shares of Deckers Outdoor by 499.2% during the 3rd quarter. FMR LLC now owns 22,869,485 shares of the textile maker’s stock valued at $3,646,539,000 after buying an additional 19,053,113 shares in the last quarter. State Street Corp raised its stake in shares of Deckers Outdoor by 513.8% during 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 in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Deckers Outdoor by 509.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,059,919 shares of the textile maker’s stock worth $646,316,000 after acquiring an additional 3,393,420 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Deckers Outdoor by 929.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker’s stock valued at $206,790,000 after purchasing an additional 1,170,855 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Deckers Outdoor by 529.0% during 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 valued at $203,674,000 after purchasing an additional 1,074,263 shares during the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

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.