Deckers Outdoor (NYSE:DECK) Hits New 52-Week High – Still a Buy?

Deckers Outdoor Co. (NYSE:DECK)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $190.87 and last traded at $189.41, with a volume of 274223 shares changing hands. The stock had previously closed at $181.91.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Evercore ISI lifted their price objective on Deckers Outdoor from $185.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. TD Cowen boosted their price target on shares of Deckers Outdoor from $178.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. BTIG Research cut shares of Deckers Outdoor from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 22nd. Robert W. Baird upped their target price on shares of Deckers Outdoor from $180.00 to $195.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Truist Financial raised their price target on Deckers Outdoor from $204.17 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Deckers Outdoor currently has an average rating of “Moderate Buy” and a consensus price target of $153.53.

Deckers Outdoor Trading Up 4.5 %

The stock has a market cap of $28.88 billion, a price-to-earnings ratio of 31.89, a P/E/G ratio of 2.47 and a beta of 1.05. The company has a 50 day simple moving average of $160.53 and a 200-day simple moving average of $72.80.

Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.35. Deckers Outdoor had a net margin of 18.95% and a return on equity of 41.48%. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the business earned $1.14 EPS. The business’s quarterly revenue was up 20.1% on a year-over-year basis. Equities analysts forecast that Deckers Outdoor Co. will post 5.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Deckers Outdoor

In other Deckers Outdoor news, Director David Powers sold 140,832 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $23.97, for a total transaction of $3,376,368.96. Following the sale, the director now directly owns 2,450,808 shares of the company’s stock, valued at approximately $58,756,760.24. This represents a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Angela Ogbechie sold 1,278 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $163.24, for a total transaction of $208,620.72. Following the completion of the sale, the insider now owns 29,628 shares of the company’s stock, valued at approximately $4,836,474.72. This represents a 4.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 202,110 shares of company stock worth $14,028,140. Insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Deckers Outdoor

Institutional investors and hedge funds have recently modified their holdings of the company. Solstein Capital LLC raised its stake in Deckers Outdoor by 500.0% in the third quarter. Solstein Capital LLC now owns 162 shares of the textile maker’s stock valued at $26,000 after buying an additional 135 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Deckers Outdoor by 460.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 28 shares of the textile maker’s stock worth $27,000 after acquiring an additional 23 shares during the last quarter. Bell Investment Advisors Inc raised its stake in 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 stake in Deckers Outdoor by 2,000.0% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 210 shares of the textile maker’s stock valued at $32,000 after acquiring an additional 200 shares during the period. Finally, Crewe Advisors LLC acquired a new stake in Deckers Outdoor during the 2nd quarter valued at $34,000. 97.79% of the stock is owned by institutional investors.

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.