Deckers Outdoor (NYSE:DECK) Hits New 1-Year High – Here’s Why

Deckers Outdoor Co. (NYSE:DECK) shares reached a new 52-week high on Friday . The stock traded as high as $190.87 and last traded at $189.41, with a volume of 274223 shares traded. The stock had previously closed at $181.91.

Analysts Set New Price Targets

A number of research firms recently weighed in on DECK. Guggenheim initiated coverage on Deckers Outdoor in a research report on Wednesday, October 9th. They issued a “neutral” rating for the company. Piper Sandler set a $166.00 target price on Deckers Outdoor in a report on Thursday, October 17th. Telsey Advisory Group lifted their price target on Deckers Outdoor from $183.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Needham & Company LLC started coverage on Deckers Outdoor in a research note on Friday. They issued a “buy” rating and a $218.00 price objective for the company. Finally, Seaport Res Ptn cut Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 7th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $153.53.

Deckers Outdoor Stock Performance

The company’s 50 day moving average price is $160.53 and its 200 day moving average price is $72.80. The company has a market cap of $28.88 billion, a price-to-earnings ratio of 31.89, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05.

Deckers Outdoor (NYSE:DECK) last released its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.35. Deckers Outdoor had a net margin of 18.95% and a return on equity of 41.48%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the firm posted $1.14 earnings per share. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. On average, equities research analysts forecast that Deckers Outdoor Co. will post 5.48 EPS for the current fiscal year.

Insider Buying and Selling at Deckers Outdoor

In other Deckers Outdoor news, insider Thomas Garcia sold 18,000 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $175.28, for a total value of $3,155,040.00. Following the sale, the insider now directly owns 63,642 shares in the company, valued at $11,155,169.76. This represents a 22.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Caroti Stefano sold 15,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $175.73, for a total value of $2,635,950.00. Following the transaction, the chief executive officer now owns 273,540 shares of the company’s stock, valued at $48,069,184.20. This represents a 5.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 202,110 shares of company stock valued at $14,028,140 in the last 90 days. 0.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Deckers Outdoor

A number of hedge funds have recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Deckers Outdoor in the first quarter valued at about $232,000. EntryPoint Capital LLC raised its stake in shares of Deckers Outdoor by 256.3% in the first quarter. EntryPoint Capital LLC now owns 57 shares of the textile maker’s stock worth $54,000 after acquiring an additional 41 shares during the last quarter. EP Wealth Advisors LLC lifted its position in shares of Deckers Outdoor by 3.0% during the first quarter. EP Wealth Advisors LLC now owns 2,013 shares of the textile maker’s stock worth $1,895,000 after purchasing an additional 58 shares in the last quarter. Axxcess Wealth Management LLC grew its stake in shares of Deckers Outdoor by 10.7% during the first quarter. Axxcess Wealth Management LLC now owns 725 shares of the textile maker’s stock valued at $682,000 after purchasing an additional 70 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of Deckers Outdoor by 117.6% in the first quarter. Advisors Asset Management Inc. now owns 1,499 shares of the textile maker’s stock valued at $1,411,000 after purchasing an additional 810 shares in the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

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.