Truist Financial Begins Coverage on Deckers Outdoor (NYSE:DECK)

Truist Financial began coverage on shares of Deckers Outdoor (NYSE:DECK) in a report published on Friday morning, Marketbeat reports. The brokerage issued a buy rating and a $735.00 target price on the textile maker’s stock.

DECK has been the subject of a number of other research reports. TD Cowen raised their price objective on Deckers Outdoor from $564.00 to $618.00 and gave the company an outperform rating in a research report on Tuesday, August 15th. Wedbush boosted their target price on Deckers Outdoor from $505.00 to $614.00 in a research report on Wednesday, July 26th. Robert W. Baird boosted their target price on Deckers Outdoor from $575.00 to $620.00 and gave the company an outperform rating in a research report on Friday, July 28th. StockNews.com assumed coverage on Deckers Outdoor in a research report on Thursday, October 5th. They set a hold rating for the company. Finally, Stifel Nicolaus reiterated a buy rating and issued a $600.00 price target on shares of Deckers Outdoor in a report on Tuesday, October 24th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $604.43.

Deckers Outdoor Price Performance

NYSE DECK opened at $629.50 on Friday. The business’s fifty day moving average price is $544.97 and its 200-day moving average price is $527.74. The stock has a market capitalization of $16.20 billion, a price-to-earnings ratio of 27.17, a PEG ratio of 1.50 and a beta of 0.95. Deckers Outdoor has a 1-year low of $361.34 and a 1-year high of $638.00.

Deckers Outdoor (NYSE:DECK) last released its quarterly earnings results on Thursday, October 26th. The textile maker reported $6.82 earnings per share for the quarter, beating the consensus estimate of $4.41 by $2.41. Deckers Outdoor had a return on equity of 33.96% and a net margin of 15.51%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $960.54 million. During the same period in the prior year, the firm earned $3.80 EPS. The company’s revenue was up 24.7% compared to the same quarter last year. Equities research analysts anticipate that Deckers Outdoor will post 23.4 EPS for the current year.

Insider Activity

In related news, insider Thomas Garcia sold 3,595 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $516.73, for a total value of $1,857,644.35. Following the transaction, the insider now directly owns 16,457 shares of the company’s stock, valued at approximately $8,503,825.61. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Michael F. Devine III sold 4,000 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $587.00, for a total transaction of $2,348,000.00. Following the sale, the director now directly owns 8,088 shares of the company’s stock, valued at approximately $4,747,656. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Thomas Garcia sold 3,595 shares of the stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $516.73, for a total transaction of $1,857,644.35. Following the sale, the insider now directly owns 16,457 shares in the company, valued at $8,503,825.61. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,787 shares of company stock worth $8,251,144. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Deckers Outdoor

Hedge funds have recently modified their holdings of the company. Robeco Institutional Asset Management B.V. purchased a new position in Deckers Outdoor in the 1st quarter worth approximately $22,148,000. LPL Financial LLC lifted its stake in Deckers Outdoor by 6.8% in the 2nd quarter. LPL Financial LLC now owns 18,404 shares of the textile maker’s stock worth $9,711,000 after purchasing an additional 1,169 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Deckers Outdoor by 10.7% during the 1st quarter. Citigroup Inc. now owns 16,348 shares of the textile maker’s stock worth $7,349,000 after buying an additional 1,581 shares during the last quarter. Northstar Group Inc. acquired a new stake in shares of Deckers Outdoor during the 2nd quarter worth approximately $201,000. Finally, MAI Capital Management increased its holdings in shares of Deckers Outdoor by 9.8% during the 1st quarter. MAI Capital Management now owns 837 shares of the textile maker’s stock worth $376,000 after buying an additional 75 shares during the last quarter. 95.69% of the stock is owned by hedge funds and other institutional investors.

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 and apparel for ultra-runners and athletes under the Hoka brand; and sandals, shoes, and boots under the Teva brand name.