Deckers Outdoor (NYSE:DECK) Price Target Raised to $246.00 at Needham & Company LLC

Deckers Outdoor (NYSE:DECK) had its price objective hoisted by Needham & Company LLC from $226.00 to $246.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the textile maker’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 18.70% from the company’s previous close.

Several other equities analysts have also recently commented on DECK. TD Cowen boosted their price objective on shares of Deckers Outdoor from $178.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Wells Fargo & Company boosted their target price on Deckers Outdoor from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Robert W. Baird raised their price target on Deckers Outdoor from $195.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Piper Sandler set a $166.00 price objective on Deckers Outdoor in a report on Thursday, October 17th. Finally, Seaport Res Ptn downgraded shares of Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 7th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $159.76.

Deckers Outdoor Trading Up 1.3 %

Deckers Outdoor stock opened at $207.25 on Monday. The firm has a market capitalization of $31.49 billion, a price-to-earnings ratio of 36.45, a P/E/G ratio of 2.87 and a beta of 1.08. The firm has a 50 day simple moving average of $191.11 and a 200 day simple moving average of $111.25. Deckers Outdoor has a 1-year low of $108.65 and a 1-year high of $214.70.

Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.35. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Deckers Outdoor had a return on equity of 41.48% and a net margin of 18.95%. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 EPS. On average, equities research analysts forecast that Deckers Outdoor will post 5.49 EPS for the current year.

Insider Activity at Deckers Outdoor

In related news, insider Angela Ogbechie sold 1,278 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $163.24, for a total value of $208,620.72. Following the sale, the insider now directly owns 29,628 shares of the company’s stock, valued at $4,836,474.72. This trade represents a 4.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Caroti Stefano sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $175.73, for a total value of $2,635,950.00. Following the transaction, the chief executive officer now directly owns 273,540 shares of the company’s stock, valued at $48,069,184.20. The trade was a 5.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,036 shares of company stock worth $13,715,482 in the last ninety days. 0.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. National Bank of Canada FI lifted its position in shares of Deckers Outdoor by 27.0% in the 2nd quarter. National Bank of Canada FI now owns 9,618 shares of the textile maker’s stock worth $9,100,000 after purchasing an additional 2,042 shares during the period. Private Advisor Group LLC lifted its holdings in Deckers Outdoor by 152.5% in the second quarter. Private Advisor Group LLC now owns 760 shares of the textile maker’s stock worth $736,000 after buying an additional 459 shares during the period. Acadian Asset Management LLC boosted its position in Deckers Outdoor by 2,234.5% during the 2nd quarter. Acadian Asset Management LLC now owns 677 shares of the textile maker’s stock valued at $655,000 after acquiring an additional 648 shares in the last quarter. Caprock Group LLC purchased a new position in shares of Deckers Outdoor during the 2nd quarter worth approximately $1,012,000. Finally, Emerald Advisers LLC bought a new position in shares of Deckers Outdoor in the 2nd quarter worth approximately $437,000. 97.79% of the stock is owned by hedge funds and other institutional investors.

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 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.