Deckers Outdoor (NYSE:DECK) Hits New 52-Week Low – Time to Sell?

Deckers Outdoor Co. (NYSE:DECK) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $115.00 and last traded at $115.35, with a volume of 672897 shares trading hands. The stock had previously closed at $117.48.

Analysts Set New Price Targets

DECK has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their target price on Deckers Outdoor from $215.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. KeyCorp upped their target price on shares of Deckers Outdoor from $213.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Barclays raised their price target on shares of Deckers Outdoor from $190.00 to $231.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Truist Financial lowered their price objective on shares of Deckers Outdoor from $235.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, UBS Group raised their target price on shares of Deckers Outdoor from $267.00 to $284.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $197.41.

Deckers Outdoor Price Performance

The firm has a market capitalization of $17.56 billion, a PE ratio of 18.76, a P/E/G ratio of 1.68 and a beta of 1.10. The company has a 50-day moving average price of $169.44 and a 200 day moving average price of $163.75.

Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings data on Thursday, February 6th. The textile maker reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.56. Deckers Outdoor had a return on equity of 41.71% and a net margin of 19.14%. As a group, research analysts anticipate that Deckers Outdoor Co. will post 5.89 earnings per share for the current year.

Insider Activity

In other news, Director David Powers sold 25,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $138.84, for a total value of $3,471,000.00. Following the completion of the sale, the director now owns 241,777 shares in the company, valued at approximately $33,568,318.68. This trade represents a 9.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maha Saleh Ibrahim sold 300 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $134.48, for a total transaction of $40,344.00. Following the transaction, the director now owns 10,388 shares in the company, valued at $1,396,978.24. The trade was a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Deckers Outdoor

Several hedge funds have recently made changes to their positions in DECK. Victory Capital Management Inc. boosted its position in Deckers Outdoor by 317.6% during the 3rd quarter. Victory Capital Management Inc. now owns 94,702 shares of the textile maker’s stock valued at $15,100,000 after acquiring an additional 72,022 shares in the last quarter. Huntington National Bank lifted its stake in shares of Deckers Outdoor by 774.4% during the 3rd quarter. Huntington National Bank now owns 717 shares of the textile maker’s stock worth $114,000 after purchasing an additional 635 shares during the last quarter. OneDigital Investment Advisors LLC boosted its position in Deckers Outdoor by 240.9% during the third quarter. OneDigital Investment Advisors LLC now owns 1,500 shares of the textile maker’s stock valued at $239,000 after purchasing an additional 1,060 shares in the last quarter. CIBC Asset Management Inc grew its stake in Deckers Outdoor by 545.3% in the third quarter. CIBC Asset Management Inc now owns 22,328 shares of the textile maker’s stock valued at $3,560,000 after purchasing an additional 18,868 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in Deckers Outdoor by 591.4% in the third quarter. Empowered Funds LLC now owns 33,389 shares of the textile maker’s stock worth $5,324,000 after purchasing an additional 28,560 shares in the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

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.