Wedbush Raises Deckers Outdoor (NYSE:DECK) Price Target to $148.00

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Deckers Outdoor (NYSE:DECK) had its target price upped by Wedbush from $138.00 to $148.00 in a report issued on Wednesday morning, The Fly reports. They currently have a neutral rating on the textile maker’s stock. Wedbush also issued estimates for Deckers Outdoor’s Q2 2020 earnings at $2.36 EPS, Q3 2020 earnings at $6.68 EPS, Q4 2020 earnings at $0.77 EPS, FY2020 earnings at $8.55 EPS and FY2021 earnings at $9.30 EPS. The analysts noted that the move was a valuation call.

A number of other brokerages have also recently issued reports on DECK. Wells Fargo & Co started coverage on Deckers Outdoor in a report on Tuesday, April 23rd. They set a market perform rating and a $163.00 price objective for the company. Zacks Investment Research raised Hudson Technologies from a sell rating to a hold rating in a report on Wednesday, May 29th. Telsey Advisory Group reissued an outperform rating and set a $205.00 price objective (up from $200.00) on shares of Lululemon Athletica in a report on Thursday, June 13th. ValuEngine raised China Southern Airlines from a sell rating to a hold rating in a report on Tuesday, June 11th. Finally, Macquarie set a $155.00 price objective on Deckers Outdoor and gave the company a hold rating in a report on Tuesday, June 11th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $150.38.

DECK opened at $174.24 on Wednesday. Deckers Outdoor has a fifty-two week low of $101.69 and a fifty-two week high of $180.76. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.37 and a quick ratio of 3.26. The business’s fifty day simple moving average is $170.95. The firm has a market capitalization of $5.08 billion, a P/E ratio of 19.71, a P/E/G ratio of 1.78 and a beta of 0.82.

Deckers Outdoor (NYSE:DECK) last posted its quarterly earnings results on Thursday, May 23rd. The textile maker reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.75. The firm had revenue of $394.10 million for the quarter, compared to the consensus estimate of $378.82 million. Deckers Outdoor had a net margin of 13.08% and a return on equity of 27.32%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.50 earnings per share. On average, analysts forecast that Deckers Outdoor will post 8.47 earnings per share for the current fiscal year.

In related news, COO David E. Lafitte sold 1,350 shares of Deckers Outdoor stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $151.27, for a total value of $204,214.50. Following the completion of the transaction, the chief operating officer now directly owns 23,113 shares of the company’s stock, valued at $3,496,303.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lauri M. Shanahan sold 1,813 shares of Deckers Outdoor stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $155.53, for a total value of $281,975.89. Following the completion of the transaction, the director now directly owns 12,131 shares of the company’s stock, valued at $1,886,734.43. The disclosure for this sale can be found here. Insiders sold 5,263 shares of company stock valued at $807,763 over the last ninety days. 0.40% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Premier Asset Management LLC bought a new position in shares of Deckers Outdoor in the fourth quarter valued at about $241,000. Adams Diversified Equity Fund Inc. bought a new stake in Deckers Outdoor during the 1st quarter worth about $353,000. Acadian Asset Management LLC raised its holdings in Deckers Outdoor by 25.6% during the 1st quarter. Acadian Asset Management LLC now owns 369,930 shares of the textile maker’s stock worth $54,381,000 after purchasing an additional 75,316 shares during the last quarter. Cipher Capital LP bought a new stake in Deckers Outdoor during the 4th quarter worth about $2,316,000. Finally, Great West Life Assurance Co. Can raised its holdings in Deckers Outdoor by 36.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 24,529 shares of the textile maker’s stock worth $3,601,000 after purchasing an additional 6,517 shares during the last quarter.

About Deckers Outdoor

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, apparel, and accessories under the UGG brand name; sandals, shoes, and boots under the Teva brand name; and footwear under the Sanuk brand name.

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Analyst Recommendations for Deckers Outdoor (NYSE:DECK)

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