Wedbush cut shares of Deckers Outdoor (NASDAQ: DECK) from an outperform rating to a neutral rating in a research report sent to investors on Wednesday morning. The firm currently has $45.00 price target on the stock.
“We are downgrading shares of DECK from OUTPERFORM to NEUTRAL based on valuation and what we view as a less favorable risk/reward scenario heading into the 4Q print. DECK is trading within 1% of our target valuation and we are stepping to the sidelines given uncertainty surrounding guidance.,” Wedbush’s analyst commented.
Deckers Outdoor opened at 40.84 on Wednesday. Deckers Outdoor has a 1-year low of $28.53 and a 1-year high of $81.00. The stock’s 50-day moving average is currently $40.38. The company has a market cap of $1.440 billion and a price-to-earnings ratio of 10.05.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of Deckers Outdoor from $50.00 to $60.00 in a research note to investors on Monday, February 4th. They now have a buy rating on the stock. Separately, analysts at Zacks reiterated a neutral rating on shares of Deckers Outdoor in a research note to investors on Wednesday, January 30th. They now have a $42.00 price target on the stock. Finally, analysts at Canaccord Genuity cut their price target on shares of Deckers Outdoor from $37.00 to $35.00 in a research note to investors on Tuesday, January 22nd. They now have a hold rating on the stock.
Five analysts have rated the stock with a buy rating, and eight have given a hold rating to the company’s stock. The company currently has an average rating of overweight and an average target price of $43.43.
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