Needham & Company LLC Initiates Coverage on Deckers Outdoor (NYSE:DECK)

Needham & Company LLC assumed coverage on shares of Deckers Outdoor (NYSE:DECK) in a research report report published on Friday morning, MarketBeat reports. The brokerage issued a buy rating and a $218.00 price objective on the textile maker’s stock.

DECK has been the topic of several other research reports. Wedbush restated an “outperform” rating and set a $28.61 target price on shares of Deckers Outdoor in a report on Friday, July 26th. TD Cowen boosted their price objective on Deckers Outdoor from $178.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. BTIG Research lowered Deckers Outdoor from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company boosted their price target 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. Finally, Robert W. Baird upped their price target on Deckers Outdoor from $180.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $153.53.

Deckers Outdoor Price Performance

Shares of NYSE:DECK opened at $196.49 on Friday. The business has a 50-day moving average of $163.85 and a two-hundred day moving average of $74.68. The firm has a market capitalization of $29.85 billion, a PE ratio of 34.04, a P/E/G ratio of 2.70 and a beta of 1.05. Deckers Outdoor has a 12 month low of $105.83 and a 12 month high of $198.08.

Deckers Outdoor (NYSE:DECK) last issued its earnings results 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. Deckers Outdoor had a return on equity of 41.48% and a net margin of 18.95%. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the business earned $1.14 EPS. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. As a group, research analysts anticipate that Deckers Outdoor will post 5.48 earnings per share for the current year.

Insider Activity at Deckers Outdoor

In related news, CEO Caroti Stefano sold 15,000 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $175.73, for a total transaction of $2,635,950.00. Following the sale, the chief executive officer now owns 273,540 shares in the company, valued at $48,069,184.20. This represents a 5.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Angela Ogbechie sold 1,278 shares of Deckers Outdoor stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $163.24, for a total value of $208,620.72. Following the completion of the transaction, the insider now owns 29,628 shares of the company’s stock, valued at approximately $4,836,474.72. The trade was a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 210,492 shares of company stock valued at $15,590,797 over the last three months. 0.40% of the stock is owned by insiders.

Institutional Trading of Deckers Outdoor

A number of institutional investors and hedge funds have recently made changes to their positions in DECK. Solstein Capital LLC boosted its stake in Deckers Outdoor by 500.0% during the 3rd quarter. Solstein Capital LLC now owns 162 shares of the textile maker’s stock valued at $26,000 after purchasing an additional 135 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Deckers Outdoor by 460.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 28 shares of the textile maker’s stock worth $27,000 after buying an additional 23 shares during the period. Bell Investment Advisors Inc grew its holdings in Deckers Outdoor by 521.4% in the 3rd quarter. Bell Investment Advisors Inc now owns 174 shares of the textile maker’s stock worth $28,000 after buying an additional 146 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in Deckers Outdoor by 2,000.0% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 210 shares of the textile maker’s stock worth $32,000 after buying an additional 200 shares in the last quarter. Finally, Crewe Advisors LLC acquired a new stake in Deckers Outdoor in the 2nd quarter valued at approximately $34,000. 97.79% of the stock is currently owned by institutional investors and hedge funds.

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.