Robert W. Baird Forecasts Strong Price Appreciation for Deckers Outdoor (NYSE:DECK) Stock

Deckers Outdoor (NYSE:DECK) had its price objective lifted by Robert W. Baird from $195.00 to $225.00 in a report released on Friday morning,Benzinga reports. They currently have an outperform rating on the textile maker’s stock.

A number of other research firms have also weighed in on DECK. TD Cowen upped their target price on shares of Deckers Outdoor from $178.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Evercore ISI boosted their price target on shares of Deckers Outdoor from $185.00 to $195.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Stifel Nicolaus boosted their price target on shares of Deckers Outdoor from $147.83 to $181.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Telsey Advisory Group boosted their price target on shares of Deckers Outdoor from $183.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, UBS Group boosted their price target on shares of Deckers Outdoor from $226.00 to $232.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $158.59.

Deckers Outdoor Stock Performance

Shares of DECK stock opened at $199.55 on Friday. The firm has a market cap of $30.32 billion, a price-to-earnings ratio of 35.07, a P/E/G ratio of 2.86 and a beta of 1.08. Deckers Outdoor has a 52 week low of $108.65 and a 52 week high of $207.29. The firm’s 50-day simple moving average is $172.42 and its two-hundred day simple moving average is $86.89.

Deckers Outdoor (NYSE:DECK) last posted its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.35. Deckers Outdoor had a net margin of 18.95% and a return on equity of 41.48%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the firm posted $1.14 earnings per share. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. Analysts forecast that Deckers Outdoor will post 5.49 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Steven J. Fasching sold 9,198 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 161,838 shares of the company’s stock, valued at approximately $26,973,539.46. This represents a 5.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Angela Ogbechie sold 1,278 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $163.24, for a total transaction of $208,620.72. Following the sale, the insider now directly owns 29,628 shares in the company, valued at $4,836,474.72. This trade represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,660 shares of company stock worth $12,214,428 in the last three months. 0.40% of the stock is owned by corporate insiders.

Institutional Trading of Deckers Outdoor

A number of institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its holdings in shares of Deckers Outdoor by 499.2% during the 3rd quarter. FMR LLC now owns 22,869,485 shares of the textile maker’s stock valued at $3,646,539,000 after acquiring an additional 19,053,113 shares during the last quarter. State Street Corp boosted its holdings in shares of Deckers Outdoor by 513.8% in the third quarter. State Street Corp now owns 6,584,305 shares of the textile maker’s stock worth $1,049,867,000 after buying an additional 5,511,513 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Deckers Outdoor by 509.1% in the third quarter. Geode Capital Management LLC now owns 4,059,919 shares of the textile maker’s stock worth $646,316,000 after buying an additional 3,393,420 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Deckers Outdoor by 529.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,277,355 shares of the textile maker’s stock worth $203,674,000 after buying an additional 1,074,263 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Deckers Outdoor by 904.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,011,073 shares of the textile maker’s stock worth $161,216,000 after buying an additional 910,430 shares during the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

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.