Deckers Outdoor (NYSE:DECK) Downgraded to “Hold” Rating by Zacks Research

Deckers Outdoor (NYSE:DECK) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

DECK has been the subject of several other reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Deckers Outdoor in a research report on Monday. Wells Fargo & Company set a $115.00 price target on shares of Deckers Outdoor and gave the stock an “equal weight” rating in a research note on Wednesday, April 15th. Jefferies Financial Group boosted their price target on shares of Deckers Outdoor from $102.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, January 27th. Barclays reissued an “overweight” rating and issued a $143.00 price target (up from $113.00) on shares of Deckers Outdoor in a research note on Friday, January 30th. Finally, Citigroup reissued a “buy” rating and issued a $130.00 price target (up from $120.00) on shares of Deckers Outdoor in a research note on Thursday, January 15th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $125.45.

Deckers Outdoor Stock Performance

Shares of NYSE:DECK opened at $107.65 on Tuesday. Deckers Outdoor has a 52-week low of $78.91 and a 52-week high of $133.43. The firm has a fifty day moving average of $107.47 and a 200 day moving average of $100.94. The firm has a market capitalization of $15.28 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 2.36 and a beta of 1.21.

Deckers Outdoor (NYSE:DECK) last announced its earnings results on Thursday, January 29th. The textile maker reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.56. Deckers Outdoor had a net margin of 19.46% and a return on equity of 41.60%. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the business earned $3.00 earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, sell-side analysts forecast that Deckers Outdoor will post 6.87 EPS for the current fiscal year.

Insider Activity at Deckers Outdoor

In related news, Director Lauri M. Shanahan sold 4,682 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $114.84, for a total transaction of $537,680.88. Following the transaction, the director owned 25,026 shares in the company, valued at $2,873,985.84. The trade was a 15.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anne Spangenberg sold 4,063 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $116.02, for a total transaction of $471,389.26. Following the transaction, the insider owned 80,449 shares in the company, valued at $9,333,692.98. This represents a 4.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 9,092 shares of company stock worth $1,048,552 over the last 90 days. 0.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Deckers Outdoor

Several hedge funds and other institutional investors have recently modified their holdings of DECK. American National Bank & Trust increased its position in shares of Deckers Outdoor by 77.4% during the third quarter. American National Bank & Trust now owns 243 shares of the textile maker’s stock valued at $25,000 after buying an additional 106 shares during the period. True Wealth Design LLC increased its position in shares of Deckers Outdoor by 2,440.0% during the third quarter. True Wealth Design LLC now owns 254 shares of the textile maker’s stock valued at $26,000 after buying an additional 244 shares during the period. Geneos Wealth Management Inc. grew its holdings in Deckers Outdoor by 330.8% in the second quarter. Geneos Wealth Management Inc. now owns 280 shares of the textile maker’s stock worth $29,000 after purchasing an additional 215 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new stake in Deckers Outdoor in the third quarter worth about $30,000. Finally, Elyxium Wealth LLC purchased a new stake in Deckers Outdoor in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

About Deckers Outdoor

Deckers Outdoor Corporation is a global designer, marketer and distributor of footwear, apparel and accessories. The company’s product portfolio includes well?known brands such as UGG, HOKA, Teva, Sanuk and Koolaburra by UGG, spanning a range of lifestyle, performance and outdoor categories. Deckers leverages a blend of proprietary manufacturing, strategic brand storytelling and direct?to?consumer retail to serve both fashion?focused and performance?oriented customers.

Founded in 1973 by Doug Otto and Karl F.