Deckers Outdoor (NYSE:DECK) Price Target Cut to $165.00

Deckers Outdoor (NYSE:DECK) had its target price decreased by Wells Fargo & Company from $1,000.00 to $165.00 in a research report released on Monday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the textile maker’s stock.

DECK has been the subject of a number of other reports. Robert W. Baird lifted their price target on shares of Deckers Outdoor from $29.17 to $29.86 and gave the company an outperform rating in a research report on Friday, July 26th. BTIG Research lifted their target price on shares of Deckers Outdoor from $31.11 to $33.33 and gave the company a buy rating in a report on Tuesday, June 25th. Evercore ISI decreased their price target on Deckers Outdoor from $30.83 to $30.56 and set an outperform rating on the stock in a research note on Monday, July 15th. Piper Sandler reaffirmed a neutral rating and issued a $27.78 price objective on shares of Deckers Outdoor in a research note on Friday, August 23rd. Finally, Wedbush reissued an outperform rating and set a $28.61 target price on shares of Deckers Outdoor in a research note on Friday, July 26th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $54.99.

Deckers Outdoor Price Performance

Deckers Outdoor stock opened at $157.26 on Monday. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 5.37, a price-to-earnings-growth ratio of 2.74 and a beta of 1.05. The firm has a 50 day simple moving average of $48.59 and a 200-day simple moving average of $33.65. Deckers Outdoor has a 1-year low of $80.67 and a 1-year high of $184.48.

Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings data on Thursday, July 25th. The textile maker reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.03. Deckers Outdoor had a return on equity of 40.52% and a net margin of 18.45%. The company had revenue of $825.30 million during the quarter, compared to analyst estimates of $808.40 million. During the same period in the prior year, the business posted $0.07 earnings per share. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. Equities analysts expect that Deckers Outdoor will post 5.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Deckers Outdoor

In other news, Director David Powers sold 140,832 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $23.97, for a total value of $3,376,368.96. Following the sale, the director now directly owns 2,450,808 shares in the company, valued at approximately $58,756,760.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Deckers Outdoor

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Deckers Outdoor by 1,559.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,100 shares of the textile maker’s stock valued at $3,969,000 after purchasing an additional 3,853 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Deckers Outdoor in the 2nd quarter valued at $5,052,000. Kestra Investment Management LLC purchased a new position in shares of Deckers Outdoor in the 2nd quarter valued at $662,000. Clearbridge Investments LLC acquired a new stake in Deckers Outdoor during the 2nd quarter worth $1,381,000. Finally, New Century Financial Group LLC lifted its position in Deckers Outdoor by 91.0% in the second quarter. New Century Financial Group LLC now owns 892 shares of the textile maker’s stock valued at $863,000 after acquiring an additional 425 shares during the last quarter. Institutional investors and hedge funds 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 and apparel for ultra-runners and athletes under the Hoka brand; and sandals, shoes, and boots under the Teva brand name.