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

Deckers Outdoor Co. (NYSE:DECK) shares reached a new 52-week high on Friday . The company traded as high as $213.90 and last traded at $213.90, with a volume of 807549 shares. The stock had previously closed at $205.28.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on DECK shares. Barclays upped their price target on Deckers Outdoor from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Guggenheim started coverage on Deckers Outdoor in a research note on Wednesday, October 9th. They issued a “neutral” rating for the company. Bank of America boosted their price target on shares of Deckers Outdoor from $170.00 to $182.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Telsey Advisory Group raised their price objective on shares of Deckers Outdoor from $183.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, StockNews.com lowered shares of Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 25th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $158.59.

Deckers Outdoor Stock Performance

The company has a market capitalization of $32.05 billion, a price-to-earnings ratio of 37.10, a P/E/G ratio of 2.87 and a beta of 1.08. The firm has a 50-day simple moving average of $181.65 and a two-hundred day simple moving average of $98.84.

Deckers Outdoor (NYSE:DECK) last announced its earnings results on Thursday, October 24th. The textile maker reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.35. Deckers Outdoor had a net margin of 18.95% and a return on equity of 41.48%. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the firm earned $1.14 EPS. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. As a group, equities analysts forecast that Deckers Outdoor Co. will post 5.49 EPS for the current fiscal year.

Insider Activity at Deckers Outdoor

In related news, Director Maha Saleh Ibrahim sold 300 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $200.80, for a total transaction of $60,240.00. Following the sale, the director now directly owns 10,222 shares in the company, valued at approximately $2,052,577.60. This represents a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Caroti Stefano sold 14,274 shares of Deckers Outdoor stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $208.34, for a total transaction of $2,973,845.16. Following the completion of the transaction, the chief executive officer now owns 259,266 shares of the company’s stock, valued at $54,015,478.44. This represents a 5.22 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 84,234 shares of company stock worth $15,248,513. Company insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Deckers Outdoor

A number of hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC increased its holdings in Deckers Outdoor by 499.2% in the third quarter. FMR LLC now owns 22,869,485 shares of the textile maker’s stock valued at $3,646,539,000 after buying an additional 19,053,113 shares during the last quarter. State Street Corp boosted its position in shares of Deckers Outdoor by 513.8% during the 3rd quarter. State Street Corp now owns 6,584,305 shares of the textile maker’s stock worth $1,049,867,000 after acquiring an additional 5,511,513 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Deckers Outdoor by 509.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,059,919 shares of the textile maker’s stock valued at $646,316,000 after acquiring an additional 3,393,420 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Deckers Outdoor by 529.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,277,355 shares of the textile maker’s stock worth $203,674,000 after acquiring an additional 1,074,263 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in Deckers Outdoor by 904.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,011,073 shares of the textile maker’s stock worth $161,216,000 after purchasing an additional 910,430 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

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.