Deckers Outdoor (NYSE:DECK) Stock Rating Lowered by BTIG Research

BTIG Research downgraded shares of Deckers Outdoor (NYSE:DECK) from a buy rating to a neutral rating in a research note issued to investors on Tuesday, MarketBeat reports.

Several other research analysts have also recently issued reports on the company. Stifel Nicolaus cut their target price on Deckers Outdoor from $887.00 to $147.83 and set a “hold” rating on the stock in a research report on Tuesday, September 17th. Evercore ISI lifted their target price on shares of Deckers Outdoor from $183.00 to $185.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Truist Financial upped their target price on Deckers Outdoor from $204.17 to $205.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Barclays reduced their price objective on Deckers Outdoor from $1,090.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, September 20th. Finally, Wells Fargo & Company cut their price target on shares of Deckers Outdoor from $1,000.00 to $165.00 and set an “equal weight” rating on the stock in a report on Monday, September 23rd. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.50.

Deckers Outdoor Stock Performance

Shares of Deckers Outdoor stock opened at $168.15 on Tuesday. Deckers Outdoor has a 52 week low of $80.67 and a 52 week high of $184.48. The stock has a 50 day moving average price of $105.11 and a two-hundred day moving average price of $53.18. The stock has a market capitalization of $4.28 billion, a PE ratio of 5.74, a price-to-earnings-growth ratio of 2.85 and a beta of 1.05.

Deckers Outdoor (NYSE:DECK) last announced its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.37. Deckers Outdoor had a net margin of 18.45% and a return on equity of 40.52%. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the business posted $1.14 EPS. Deckers Outdoor’s quarterly revenue was up 20.1% on a year-over-year basis. Research analysts forecast that Deckers Outdoor will post 5.22 EPS for the current year.

Insider Buying and Selling

In other Deckers Outdoor news, Director David Powers sold 140,832 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $23.97, for a total transaction of $3,376,368.96. Following the sale, the director now owns 2,450,808 shares in the company, valued at $58,756,760.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Deckers Outdoor news, Director David Powers sold 140,832 shares of Deckers Outdoor stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $23.97, for a total transaction of $3,376,368.96. Following the completion of the transaction, the director now owns 2,450,808 shares of the company’s stock, valued at $58,756,760.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Steven J. Fasching sold 9,198 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $166.67, for a total transaction of $1,533,030.66. Following the completion of the sale, the chief financial officer now directly owns 161,838 shares in the company, valued at approximately $26,973,539.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Financial Advocates Investment Management boosted its stake in Deckers Outdoor by 536.0% during the third quarter. Financial Advocates Investment Management now owns 2,684 shares of the textile maker’s stock valued at $428,000 after buying an additional 2,262 shares during the period. JFS Wealth Advisors LLC boosted its position in shares of Deckers Outdoor by 466.7% during the 3rd quarter. JFS Wealth Advisors LLC now owns 476 shares of the textile maker’s stock valued at $76,000 after acquiring an additional 392 shares during the last quarter. Diversify Wealth Management LLC grew its holdings in shares of Deckers Outdoor by 525.6% during the third quarter. Diversify Wealth Management LLC now owns 5,011 shares of the textile maker’s stock worth $756,000 after purchasing an additional 4,210 shares in the last quarter. First Trust Direct Indexing L.P. increased its position in shares of Deckers Outdoor by 572.4% in the third quarter. First Trust Direct Indexing L.P. now owns 4,317 shares of the textile maker’s stock worth $688,000 after purchasing an additional 3,675 shares during the last quarter. Finally, New York State Teachers Retirement System raised its stake in Deckers Outdoor by 457.0% in the third quarter. New York State Teachers Retirement System now owns 159,133 shares of the textile maker’s stock valued at $25,374,000 after purchasing an additional 130,565 shares in the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Deckers Outdoor Company Profile

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.