Deckers Outdoor (NYSE:DECK) Stock Price Crosses Below 50 Day Moving Average – What’s Next?

Deckers Outdoor Corporation (NYSE:DECK)’s share price crossed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $82.65 and traded as low as $81.56. Deckers Outdoor shares last traded at $82.0690, with a volume of 2,608,845 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have commented on DECK shares. Piper Sandler cut shares of Deckers Outdoor from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $100.00 to $75.00 in a research report on Friday, October 23rd. Wolfe Research assumed coverage on Deckers Outdoor in a report on Wednesday, October 21st. They set a “peer perform” rating on the stock. Wells Fargo & Company set a $70.00 price objective on Deckers Outdoor and gave the stock an “underweight” rating in a research report on Friday, October 23rd. Barclays set a $100.00 price objective on Deckers Outdoor and gave the stock an “overweight” rating in a research report on Friday, October 23rd. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $90.00 price objective (down from $105.00) on shares of Deckers Outdoor in a report on Friday, October 23rd. Ten investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $105.81.

Deckers Outdoor Trading Down 0.8%

The business’s 50-day simple moving average is $82.65 and its 200 day simple moving average is $99.27. The company has a market capitalization of $11.18 billion, a P/E ratio of 10.88, a P/E/G ratio of 1.32 and a beta of 1.12.

Deckers Outdoor (NYSE:DECK) last posted its quarterly earnings data on Thursday, October 22nd. The textile maker reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.52. Deckers Outdoor had a net margin of 19.18% and a return on equity of 42.42%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period last year, the firm posted $1.82 earnings per share. The business’s revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts predict that Deckers Outdoor Corporation will post 7.90 EPS for the current fiscal year.

Hedge Funds Weigh In On Deckers Outdoor

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Danske Bank A S acquired a new stake in Deckers Outdoor during the 2nd quarter valued at $46,235,000. CX Institutional lifted its holdings in shares of Deckers Outdoor by 41.0% in the third quarter. CX Institutional now owns 65,089 shares of the textile maker’s stock valued at $5,343,000 after purchasing an additional 18,921 shares in the last quarter. Private Wealth Advisors LLC acquired a new stake in shares of Deckers Outdoor in the second quarter worth $4,634,000. TD Waterhouse Canada Inc. boosted its position in shares of Deckers Outdoor by 2,708.0% in the third quarter. TD Waterhouse Canada Inc. now owns 30,663 shares of the textile maker’s stock worth $2,396,000 after buying an additional 29,571 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in shares of Deckers Outdoor by 1,365.9% in the third quarter. State of Alaska Department of Revenue now owns 203,898 shares of the textile maker’s stock worth $15,933,000 after buying an additional 189,989 shares during the period. 97.79% of the stock is owned by institutional investors.

Deckers Outdoor Company Profile

Deckers Outdoor Corporation, doing business as Deckers Brands (NYSE: DECK), is a global footwear, apparel and accessories company. Its portfolio includes UGG, known for sheepskin and casual footwear; HOKA, which focuses on performance and running shoes; Teva, which offers outdoor and sport sandals and footwear; and Koolaburra by UGG, a lifestyle footwear brand.

The company sells its products through department and specialty stores, independent retailers, international distributors, company-owned retail stores and e-commerce websites.