Bank of America Downgrades Deckers Outdoor (NYSE:DECK) to Neutral

Deckers Outdoor (NYSE:DECK) was downgraded by investment analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, MarketBeat.com reports. They currently have a $860.00 target price on the textile maker’s stock, down from their prior target price of $875.00. Bank of America‘s price objective suggests a potential upside of 3.18% from the stock’s previous close.

DECK has been the subject of a number of other reports. Evercore ISI started coverage on shares of Deckers Outdoor in a report on Thursday, February 15th. They issued an “outperform” rating and a $960.00 target price for the company. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $930.00 price target on shares of Deckers Outdoor in a report on Thursday, February 15th. Raymond James increased their price objective on Deckers Outdoor from $585.00 to $845.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. Wells Fargo & Company boosted their target price on Deckers Outdoor from $625.00 to $775.00 and gave the stock an “equal weight” rating in a research note on Friday, February 2nd. Finally, Barclays assumed coverage on Deckers Outdoor in a research note on Monday, April 1st. They issued an “overweight” rating and a $1,110.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $889.00.

Deckers Outdoor Stock Performance

Shares of DECK opened at $833.46 on Thursday. The stock has a market capitalization of $21.39 billion, a PE ratio of 29.98, a PEG ratio of 1.51 and a beta of 1.01. The company has a 50 day moving average price of $882.26 and a 200-day moving average price of $746.60. Deckers Outdoor has a fifty-two week low of $424.36 and a fifty-two week high of $956.17.

Deckers Outdoor (NYSE:DECK) last posted its earnings results on Thursday, February 1st. The textile maker reported $15.11 earnings per share for the quarter, topping analysts’ consensus estimates of $11.40 by $3.71. The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.45 billion. Deckers Outdoor had a return on equity of 38.77% and a net margin of 17.57%. Deckers Outdoor’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.48 earnings per share. Equities research analysts forecast that Deckers Outdoor will post 26.87 EPS for the current year.

Insiders Place Their Bets

In related news, CEO David Powers sold 5,993 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $824.11, for a total transaction of $4,938,891.23. Following the completion of the transaction, the chief executive officer now owns 98,218 shares of the company’s stock, valued at $80,942,435.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Deckers Outdoor news, Director Bonita C. Stewart sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $871.11, for a total value of $3,048,885.00. Following the sale, the director now owns 8,863 shares in the company, valued at approximately $7,720,647.93. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO David Powers sold 5,993 shares of Deckers Outdoor stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $824.11, for a total transaction of $4,938,891.23. Following the transaction, the chief executive officer now directly owns 98,218 shares of the company’s stock, valued at $80,942,435.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,464 shares of company stock valued at $26,229,683. 0.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Deckers Outdoor

Institutional investors and hedge funds have recently modified their holdings of the business. Handelsbanken Fonder AB increased its holdings in Deckers Outdoor by 12.4% in the 4th quarter. Handelsbanken Fonder AB now owns 5,444 shares of the textile maker’s stock worth $3,639,000 after acquiring an additional 600 shares in the last quarter. Advisor Resource Council purchased a new stake in shares of Deckers Outdoor during the fourth quarter worth about $970,000. Advisors Preferred LLC acquired a new position in shares of Deckers Outdoor during the 4th quarter worth about $2,271,000. Marks Group Wealth Management Inc purchased a new position in Deckers Outdoor in the 4th quarter valued at about $6,185,000. Finally, Louisiana State Employees Retirement System acquired a new stake in Deckers Outdoor in the 4th quarter worth about $4,813,000. 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 and apparel for ultra-runners and athletes under the Hoka brand; and sandals, shoes, and boots under the Teva brand name.