Argus Has Lowered Expectations for Deckers Outdoor (NYSE:DECK) Stock Price

Deckers Outdoor (NYSE:DECK) had its target price decreased by equities research analysts at Argus from $128.00 to $102.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the textile maker’s stock. Argus‘s target price points to a potential upside of 17.44% from the stock’s current price.

Other analysts have also issued research reports about the stock. Truist Financial set a $95.00 target price on shares of Deckers Outdoor and gave the stock a “buy” rating in a research note on Friday, October 23rd. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $90.00 price objective (down from $105.00) on shares of Deckers Outdoor in a research report on Friday, October 23rd. BMO Capital Markets reiterated an “underperform” rating on shares of Deckers Outdoor in a research note on Monday, October 26th. Sanford C. Bernstein dropped their target price on shares of Deckers Outdoor from $105.00 to $100.00 in a research report on Friday, October 23rd. Finally, Weiss Ratings downgraded shares of Deckers Outdoor from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, September 3rd. Ten equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $104.57.

Deckers Outdoor Trading Down 1.0%

NYSE DECK traded down $0.89 during trading hours on Thursday, hitting $86.85. The company’s stock had a trading volume of 2,208,697 shares, compared to its average volume of 3,548,139. The company has a market capitalization of $11.59 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 1.36 and a beta of 1.10. Deckers Outdoor has a 52 week low of $77.20 and a 52 week high of $122.29. The company’s 50-day simple moving average is $82.35 and its two-hundred day simple moving average is $98.91.

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

Institutional Trading of Deckers Outdoor

Hedge funds have recently made changes to their positions in the company. Cornerstone Advisory LLC purchased a new position in Deckers Outdoor in the 3rd quarter valued at approximately $228,000. Eurizon Capital SGR S.p.A. raised its stake in shares of Deckers Outdoor by 9.8% during the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 78,807 shares of the textile maker’s stock valued at $6,157,000 after purchasing an additional 7,052 shares during the period. Maryland State Retirement & Pension System raised its stake in shares of Deckers Outdoor by 10.5% during the 3rd quarter. Maryland State Retirement & Pension System now owns 7,832 shares of the textile maker’s stock valued at $612,000 after purchasing an additional 742 shares during the period. Ritholtz Wealth Management bought a new stake in shares of Deckers Outdoor during the 3rd quarter valued at $391,000. Finally, Jacobi Capital Management LLC purchased a new stake in Deckers Outdoor during the 3rd quarter worth about $128,000. 97.79% of the stock is currently owned by institutional investors.

About Deckers Outdoor

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.