Deckers Outdoor (NYSE:DECK) Reaches New 52-Week Low – Here’s Why

Deckers Outdoor Co. (NYSE:DECK) hit a new 52-week low during trading on Friday . The stock traded as low as $111.35 and last traded at $111.93, with a volume of 1287075 shares. The stock had previously closed at $116.95.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on DECK shares. Guggenheim restated a “neutral” rating on shares of Deckers Outdoor in a research note on Friday, January 31st. Evercore ISI boosted their target price on shares of Deckers Outdoor from $195.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, January 9th. KeyCorp increased their price target on Deckers Outdoor from $213.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Needham & Company LLC restated a “buy” rating and set a $246.00 price objective on shares of Deckers Outdoor in a research report on Friday, January 31st. Finally, Robert W. Baird upped their target price on Deckers Outdoor from $195.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Deckers Outdoor currently has an average rating of “Moderate Buy” and a consensus price target of $197.41.

Deckers Outdoor Trading Down 4.6 %

The stock’s 50-day moving average price is $153.46 and its 200-day moving average price is $168.63. The stock has a market cap of $16.93 billion, a price-to-earnings ratio of 18.08, a P/E/G ratio of 1.68 and a beta of 1.10.

Deckers Outdoor (NYSE:DECK) last released its earnings results on Thursday, February 6th. The textile maker reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.56. Deckers Outdoor had a net margin of 19.14% and a return on equity of 41.71%. As a group, analysts predict that Deckers Outdoor Co. will post 5.89 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Maha Saleh Ibrahim sold 300 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $134.48, for a total transaction of $40,344.00. Following the transaction, the director now directly owns 10,388 shares of the company’s stock, valued at $1,396,978.24. This represents a 2.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David Powers sold 25,000 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $138.84, for a total transaction of $3,471,000.00. Following the sale, the director now owns 241,777 shares of the company’s stock, valued at $33,568,318.68. This trade represents a 9.37 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Deckers Outdoor

A number of hedge funds have recently added to or reduced their stakes in DECK. Vanguard Group Inc. lifted its holdings in shares of Deckers Outdoor by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 17,639,783 shares of the textile maker’s stock valued at $3,582,464,000 after purchasing an additional 229,807 shares in the last quarter. State Street Corp lifted its stake in Deckers Outdoor by 513.8% during the 3rd quarter. State Street Corp now owns 6,584,305 shares of the textile maker’s stock valued at $1,049,867,000 after acquiring an additional 5,511,513 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Deckers Outdoor by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 4,104,954 shares of the textile maker’s stock worth $831,723,000 after acquiring an additional 45,035 shares during the last quarter. Norges Bank bought a new stake in shares of Deckers Outdoor in the 4th quarter worth $392,583,000. Finally, Northern Trust Corp raised its holdings in shares of Deckers Outdoor by 13.9% in the fourth quarter. Northern Trust Corp now owns 1,581,702 shares of the textile maker’s stock valued at $321,228,000 after purchasing an additional 192,469 shares during the last quarter. Institutional investors and hedge funds 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, apparel, and accessories for ultra-runners and athletes under the HOKA brand name; and sandals, shoes, and boots under the Teva brand name.