Needham & Company LLC Reaffirms Buy Rating for Deckers Outdoor (NYSE:DECK)

Deckers Outdoor (NYSE:DECK)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a research note issued to investors on Friday,Benzinga reports. They currently have a $246.00 price target on the textile maker’s stock. Needham & Company LLC’s price objective indicates a potential upside of 10.31% from the stock’s current price.

Other analysts also recently issued reports about the company. BTIG Research downgraded Deckers Outdoor from a “buy” rating to a “neutral” rating in a report on Tuesday, October 22nd. Guggenheim assumed coverage on Deckers Outdoor in a research note on Wednesday, October 9th. They set a “neutral” rating for the company. Bank of America raised their price objective on Deckers Outdoor from $182.00 to $217.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Piper Sandler set a $166.00 target price on Deckers Outdoor in a report on Thursday, October 17th. Finally, Barclays raised their price target on shares of Deckers Outdoor from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $192.58.

Deckers Outdoor Trading Up 1.9 %

Shares of NYSE:DECK opened at $223.00 on Friday. The firm has a market cap of $33.88 billion, a price-to-earnings ratio of 39.22, a PEG ratio of 2.41 and a beta of 1.08. The stock’s 50-day moving average price is $206.19 and its two-hundred day moving average price is $135.05. Deckers Outdoor has a 12-month low of $125.15 and a 12-month high of $223.98.

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, topping the consensus estimate of $2.44 by $0.56. Deckers Outdoor had a net margin of 18.95% and a return on equity of 41.48%. As a group, research analysts forecast that Deckers Outdoor will post 5.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Caroti Stefano sold 15,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $175.73, for a total transaction of $2,635,950.00. Following the transaction, the chief executive officer now directly owns 273,540 shares in the company, valued at $48,069,184.20. This trade represents a 5.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Steven J. Fasching sold 8,802 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $175.00, for a total transaction of $1,540,350.00. Following the sale, the chief financial officer now owns 153,036 shares of the company’s stock, valued at approximately $26,781,300. The trade was a 5.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,758 shares of company stock valued at $13,506,861 in the last ninety days. Corporate insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Deckers Outdoor

Several institutional investors and hedge funds have recently bought and sold shares of DECK. JPMorgan Chase & Co. raised its position in shares of Deckers Outdoor by 929.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker’s stock worth $206,790,000 after purchasing an additional 1,170,855 shares during the period. City Center Advisors LLC bought a new position in Deckers Outdoor during the 4th quarter worth $575,000. B. Riley Wealth Advisors Inc. grew its stake in Deckers Outdoor by 506.7% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 6,674 shares of the textile maker’s stock worth $1,060,000 after buying an additional 5,574 shares during the last quarter. Principal Financial Group Inc. increased its position in Deckers Outdoor by 512.9% in the third quarter. Principal Financial Group Inc. now owns 397,434 shares of the textile maker’s stock worth $63,371,000 after buying an additional 332,590 shares during the period. Finally, Cadent Capital Advisors LLC lifted its stake in Deckers Outdoor by 116.8% in the fourth quarter. Cadent Capital Advisors LLC now owns 6,479 shares of the textile maker’s stock valued at $1,316,000 after buying an additional 3,491 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.