Deckers Outdoor (NYSE:DECK) Stock Price Expected to Rise, Citigroup Analyst Says

Deckers Outdoor (NYSE:DECK) had its price objective lifted by equities researchers at Citigroup from $178.00 to $215.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the textile maker’s stock. Citigroup’s price objective would suggest a potential downside of 0.88% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Piper Sandler set a $166.00 price target on Deckers Outdoor in a research note on Thursday, October 17th. Telsey Advisory Group increased their price target on Deckers Outdoor from $183.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Barclays increased their price target on Deckers Outdoor from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Truist Financial increased their price target on Deckers Outdoor from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Wells Fargo & Company increased their price target on Deckers Outdoor from $170.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, January 10th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $182.20.

Deckers Outdoor Price Performance

Shares of NYSE DECK opened at $216.90 on Thursday. Deckers Outdoor has a 1-year low of $125.15 and a 1-year high of $218.92. The business’s fifty day moving average price is $203.00 and its two-hundred day moving average price is $129.71. The firm has a market capitalization of $32.95 billion, a PE ratio of 38.14, a P/E/G ratio of 2.98 and a beta of 1.08.

Deckers Outdoor (NYSE:DECK) last issued its earnings results on Thursday, October 24th. The textile maker reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.35. Deckers Outdoor had a return on equity of 41.48% and a net margin of 18.95%. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the company earned $1.14 earnings per share. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. Equities research analysts expect that Deckers Outdoor will post 5.56 earnings per share for the current fiscal year.

Insider Activity at Deckers Outdoor

In related news, insider Thomas Garcia sold 18,000 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $175.28, for a total value of $3,155,040.00. Following the completion of the sale, the insider now directly owns 63,642 shares of the company’s stock, valued at approximately $11,155,169.76. This represents a 22.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Caroti Stefano sold 14,274 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $208.34, for a total value of $2,973,845.16. Following the completion of the sale, the chief executive officer now directly owns 259,266 shares of the company’s stock, valued at approximately $54,015,478.44. This represents a 5.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,036 shares of company stock worth $13,715,482 in the last quarter. 0.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Deckers Outdoor

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Sunbelt Securities Inc. raised its stake in shares of Deckers Outdoor by 7.5% in the 2nd quarter. Sunbelt Securities Inc. now owns 273 shares of the textile maker’s stock valued at $264,000 after acquiring an additional 19 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Deckers Outdoor by 2.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 918 shares of the textile maker’s stock valued at $889,000 after acquiring an additional 23 shares in the last quarter. Evergreen Capital Management LLC raised its stake in shares of Deckers Outdoor by 5.7% in the 2nd quarter. Evergreen Capital Management LLC now owns 497 shares of the textile maker’s stock valued at $481,000 after acquiring an additional 27 shares in the last quarter. Resonant Capital Advisors LLC raised its stake in shares of Deckers Outdoor by 2.2% in the 4th quarter. Resonant Capital Advisors LLC now owns 2,408 shares of the textile maker’s stock valued at $489,000 after acquiring an additional 52 shares in the last quarter. Finally, Algert Global LLC raised its stake in shares of Deckers Outdoor by 23.0% in the 2nd quarter. Algert Global LLC now owns 428 shares of the textile maker’s stock valued at $414,000 after acquiring an additional 80 shares in the last quarter. 97.79% of the stock is owned by hedge funds and other 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.