Wells Fargo & Company Forecasts Strong Price Appreciation for Deckers Outdoor (NYSE:DECK) Stock

Deckers Outdoor (NYSE:DECK) had its price objective raised by equities researchers at Wells Fargo & Company from $170.00 to $215.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the textile maker’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 3.44% from the stock’s previous close.

DECK has been the topic of a number of other reports. Piper Sandler set a $166.00 price target on shares of Deckers Outdoor in a research report on Thursday, October 17th. Needham & Company LLC increased their price target on Deckers Outdoor from $226.00 to $246.00 and gave the company a “buy” rating in a research report on Monday. Guggenheim initiated coverage on Deckers Outdoor in a research note on Wednesday, October 9th. They issued a “neutral” rating for the company. KeyCorp lifted their target price on Deckers Outdoor from $190.00 to $213.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, Truist Financial increased their price target on shares of Deckers Outdoor from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Nine investment 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.76.

Deckers Outdoor Stock Performance

Shares of DECK opened at $207.84 on Friday. The firm has a market cap of $31.58 billion, a PE ratio of 36.55, a price-to-earnings-growth ratio of 2.87 and a beta of 1.08. Deckers Outdoor has a 52-week low of $114.11 and a 52-week high of $214.70. The business’s 50 day moving average price is $194.31 and its two-hundred day moving average price is $115.66.

Deckers Outdoor (NYSE:DECK) last issued its earnings results on Thursday, October 24th. The textile maker reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.35. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.20 billion. Deckers Outdoor had a return on equity of 41.48% and a net margin of 18.95%. The firm’s revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.14 EPS. Research analysts predict that Deckers Outdoor will post 5.49 EPS for the current fiscal year.

Insider Buying and Selling at Deckers Outdoor

In other news, Director Maha Saleh Ibrahim sold 300 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $200.80, for a total value of $60,240.00. Following the completion of the transaction, the director now owns 10,222 shares in the company, valued at $2,052,577.60. This trade represents a 2.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Caroti Stefano sold 15,000 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $175.73, for a total transaction of $2,635,950.00. Following the sale, the chief executive officer now directly owns 273,540 shares in the company, valued at $48,069,184.20. The trade was a 5.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,036 shares of company stock worth $13,715,482. 0.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DECK. Sunbelt Securities Inc. boosted its stake in shares of Deckers Outdoor by 7.5% during the 2nd quarter. Sunbelt Securities Inc. now owns 273 shares of the textile maker’s stock worth $264,000 after acquiring an additional 19 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in Deckers Outdoor by 5.2% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 406 shares of the textile maker’s stock valued at $393,000 after purchasing an additional 20 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Deckers Outdoor by 2.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 918 shares of the textile maker’s stock valued at $889,000 after purchasing an additional 23 shares during the period. Evergreen Capital Management LLC raised its stake in shares of Deckers Outdoor by 5.7% in the second quarter. Evergreen Capital Management LLC now owns 497 shares of the textile maker’s stock worth $481,000 after buying an additional 27 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its position in shares of Deckers Outdoor by 2.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 1,663 shares of the textile maker’s stock valued at $1,609,000 after buying an additional 34 shares in the last quarter. 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.