BTIG Research Lowers Deckers Outdoor (NYSE:DECK) to Neutral

Deckers Outdoor (NYSE:DECK) was downgraded by equities researchers at BTIG Research from a “buy” rating to a “neutral” rating in a research report issued on Tuesday, Marketbeat.com reports.

Several other brokerages have also recently issued reports on DECK. Seaport Res Ptn cut shares of Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 7th. Wells Fargo & Company decreased their target price on shares of Deckers Outdoor from $1,000.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Monday, September 23rd. TD Cowen upped their target price on shares of Deckers Outdoor from $176.00 to $178.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Truist Financial upped their target price on shares of Deckers Outdoor from $204.17 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Guggenheim initiated coverage on shares of Deckers Outdoor in a research report on Wednesday, October 9th. They set a “neutral” rating on the stock. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Deckers Outdoor has a consensus rating of “Moderate Buy” and an average price target of $114.57.

Deckers Outdoor Stock Down 2.0 %

Shares of DECK stock opened at $150.96 on Tuesday. The stock has a market cap of $3.84 billion, a P/E ratio of 5.15, a PEG ratio of 2.85 and a beta of 1.05. Deckers Outdoor has a 52 week low of $80.67 and a 52 week high of $184.48. The company’s fifty day simple moving average is $99.76 and its two-hundred day simple moving average is $51.48.

Deckers Outdoor (NYSE:DECK) last announced its quarterly earnings results on Thursday, July 25th. The textile maker reported $0.13 EPS for the quarter, topping the consensus estimate of $0.10 by $0.03. The business had revenue of $825.30 million for the quarter, compared to analysts’ expectations of $808.40 million. Deckers Outdoor had a net margin of 18.45% and a return on equity of 40.52%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.07 EPS. On average, analysts anticipate that Deckers Outdoor will post 5.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other Deckers Outdoor news, Director David Powers sold 140,832 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $23.97, for a total value of $3,376,368.96. Following the transaction, the director now directly owns 2,450,808 shares in the company, valued at $58,756,760.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Deckers Outdoor news, Director David Powers sold 140,832 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $23.97, for a total value of $3,376,368.96. Following the transaction, the director now directly owns 2,450,808 shares in the company, valued at $58,756,760.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Steven J. Fasching sold 9,198 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $166.67, for a total transaction of $1,533,030.66. Following the transaction, the chief financial officer now owns 161,838 shares in the company, valued at approximately $26,973,539.46. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Deckers Outdoor

Hedge funds and other institutional investors have recently modified their holdings of the business. Ballentine Partners LLC acquired a new stake in Deckers Outdoor in the first quarter valued at approximately $277,000. Gateway Investment Advisers LLC acquired a new stake in Deckers Outdoor in the first quarter valued at approximately $483,000. Sunbelt Securities Inc. boosted its stake in Deckers Outdoor by 958.3% in the first quarter. Sunbelt Securities Inc. now owns 254 shares of the textile maker’s stock valued at $239,000 after acquiring an additional 230 shares in the last quarter. Sage Investment Advisers LLC acquired a new stake in Deckers Outdoor in the first quarter valued at approximately $224,000. Finally, Janiczek Wealth Management LLC boosted its stake in Deckers Outdoor by 69.9% in the first quarter. Janiczek Wealth Management LLC now owns 158 shares of the textile maker’s stock valued at $149,000 after acquiring an additional 65 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors.

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 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.