Deckers Outdoor (DECK) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Deckers Outdoor (NYSE:DECK) from a buy rating to a hold rating in a research report report published on Wednesday morning.

According to Zacks, “Sturdy sales performance across UGG, HOKA ONE ONE and Teva brands enabled Deckers to deliver sturdy third-quarter fiscal 2018 results, wherein both the top and bottom lines grew year over year and surpassed expectations. Encouraging retail scenario and favorable weather conditions along with latest tax reform and improved margins as well as share repurchases also aided the results. We believe that management’s focus on enhancing omni-channel capabilities, innovative line of products and expanding brand assortments bode well for the stock, which has outpaced the industry in a year. The company’s long-term target of $2 billion sales with operating margin of 13% by fiscal 2020 also seems achievable. Following the results, management raised its fiscal 2018 view. Deckers now envisions net sales to be in the band of $1,873-$1,878 million and adjusted earnings in the range of $5.37-5.42 per share, up from $3.82 reported last year.”

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Other research analysts have also issued reports about the company. Canaccord Genuity reissued a buy rating and issued a $100.00 price objective (up from $78.00) on shares of Deckers Outdoor in a research report on Monday, January 29th. Stifel Nicolaus set a $85.00 price objective on Deckers Outdoor and gave the company a buy rating in a research report on Saturday, December 16th. ValuEngine raised Deckers Outdoor from a hold rating to a buy rating in a research report on Friday, February 2nd. Pivotal Research reissued a buy rating and issued a $102.00 price objective (up from $80.00) on shares of Deckers Outdoor in a research report on Tuesday, January 30th. Finally, Jefferies Group lowered Deckers Outdoor from a buy rating to a hold rating in a research report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $87.86.

Shares of DECK opened at $91.92 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.16 and a current ratio of 3.25. The firm has a market capitalization of $2,975.23, a P/E ratio of 17.54, a PEG ratio of 1.40 and a beta of 1.00. Deckers Outdoor has a twelve month low of $55.30 and a twelve month high of $98.92.

Deckers Outdoor (NYSE:DECK) last released its quarterly earnings data on Thursday, February 1st. The textile maker reported $4.97 EPS for the quarter, beating the consensus estimate of $3.84 by $1.13. Deckers Outdoor had a return on equity of 17.72% and a net margin of 4.17%. The company had revenue of $810.50 million for the quarter, compared to analyst estimates of $748.38 million. During the same period last year, the company posted $4.11 earnings per share. The firm’s revenue was up 6.6% compared to the same quarter last year. equities research analysts expect that Deckers Outdoor will post 5.43 EPS for the current year.

In other news, insider Andrea O’donnell sold 2,220 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $93.90, for a total transaction of $208,458.00. Following the completion of the sale, the insider now directly owns 17,793 shares in the company, valued at $1,670,762.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO David E. Lafitte sold 600 shares of the firm’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $90.85, for a total value of $54,510.00. The disclosure for this sale can be found here. Insiders have sold 14,768 shares of company stock valued at $1,395,699 over the last 90 days. Insiders own 1.90% of the company’s stock.

A number of large investors have recently bought and sold shares of DECK. Nationwide Fund Advisors grew its stake in Deckers Outdoor by 18.8% in the third quarter. Nationwide Fund Advisors now owns 91,312 shares of the textile maker’s stock worth $6,247,000 after purchasing an additional 14,429 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Deckers Outdoor by 7.8% in the third quarter. Ameriprise Financial Inc. now owns 266,654 shares of the textile maker’s stock worth $18,241,000 after purchasing an additional 19,362 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in Deckers Outdoor by 5.3% in the third quarter. Great West Life Assurance Co. Can now owns 19,882 shares of the textile maker’s stock worth $1,334,000 after purchasing an additional 1,008 shares in the last quarter. Legal & General Group Plc grew its stake in Deckers Outdoor by 2.6% in the third quarter. Legal & General Group Plc now owns 43,841 shares of the textile maker’s stock worth $2,995,000 after purchasing an additional 1,123 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Deckers Outdoor by 264.5% in the third quarter. JPMorgan Chase & Co. now owns 265,436 shares of the textile maker’s stock worth $17,823,000 after purchasing an additional 192,617 shares in the last quarter. Institutional investors and hedge funds own 99.56% of the company’s stock.

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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. It offers premium footwear under the UGG brand name; sandals, shoes, and boots under the Teva brand name; and sidewalk surfers shoe, and yoga mat and beer cozy sandal collections under the Sanuk brand name.

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