Bank of America Lowers Deckers Outdoor (NYSE:DECK) to Neutral

Bank of America cut shares of Deckers Outdoor (NYSE:DECK) from a buy rating to a neutral rating in a research note published on Thursday, MarketBeat.com reports. The brokerage currently has $860.00 price objective on the textile maker’s stock, down from their prior price objective of $875.00.

A number of other equities analysts have also issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Deckers Outdoor from $625.00 to $775.00 and gave the stock an equal weight rating in a research report on Friday, February 2nd. Truist Financial reaffirmed a hold rating and set a $864.00 price objective (down previously from $983.00) on shares of Deckers Outdoor in a research report on Wednesday, April 10th. Barclays assumed coverage on Deckers Outdoor in a research report on Monday, April 1st. They set an overweight rating and a $1,110.00 target price on the stock. Piper Sandler upped their price target on Deckers Outdoor from $650.00 to $730.00 and gave the company a neutral rating in a report on Wednesday, January 24th. Finally, Raymond James lifted their price objective on Deckers Outdoor from $585.00 to $845.00 and gave the stock an outperform rating in a report on Tuesday, January 30th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $889.00.

Deckers Outdoor Price Performance

Deckers Outdoor stock opened at $833.46 on Thursday. Deckers Outdoor has a fifty-two week low of $424.36 and a fifty-two week high of $956.17. The firm has a fifty day moving average price of $882.26 and a two-hundred day moving average price of $748.27. The firm has a market cap of $21.39 billion, a price-to-earnings ratio of 29.98, a P/E/G ratio of 1.48 and a beta of 1.01.

Deckers Outdoor (NYSE:DECK) last posted its quarterly earnings data on Thursday, February 1st. The textile maker reported $15.11 earnings per share for the quarter, topping the consensus estimate of $11.40 by $3.71. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Deckers Outdoor had a return on equity of 38.77% and a net margin of 17.57%. The firm’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.48 EPS. As a group, sell-side analysts expect that Deckers Outdoor will post 26.89 earnings per share for the current year.

Insider Transactions at Deckers Outdoor

In related news, CEO David Powers sold 5,993 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $824.11, for a total transaction of $4,938,891.23. Following the completion of the sale, the chief executive officer now directly owns 98,218 shares of the company’s stock, valued at approximately $80,942,435.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Deckers Outdoor news, CEO David Powers sold 5,993 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $824.11, for a total transaction of $4,938,891.23. Following the sale, the chief executive officer now owns 98,218 shares of the company’s stock, valued at approximately $80,942,435.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Angela Ogbechie sold 313 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $844.13, for a total transaction of $264,212.69. Following the completion of the sale, the insider now owns 4,027 shares of the company’s stock, valued at approximately $3,399,311.51. The disclosure for this sale can be found here. Insiders have sold 30,464 shares of company stock valued at $26,229,683 in the last three months. 0.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. CIBC Private Wealth Group LLC raised its position in shares of Deckers Outdoor by 1.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 945 shares of the textile maker’s stock worth $632,000 after acquiring an additional 15 shares during the last quarter. V Square Quantitative Management LLC lifted its position in Deckers Outdoor by 7.4% during the 3rd quarter. V Square Quantitative Management LLC now owns 232 shares of the textile maker’s stock valued at $119,000 after purchasing an additional 16 shares during the period. Janiczek Wealth Management LLC boosted its stake in shares of Deckers Outdoor by 20.8% in the 4th quarter. Janiczek Wealth Management LLC now owns 93 shares of the textile maker’s stock valued at $62,000 after purchasing an additional 16 shares during the last quarter. Chase Investment Counsel Corp grew its position in shares of Deckers Outdoor by 0.3% during the 3rd quarter. Chase Investment Counsel Corp now owns 5,772 shares of the textile maker’s stock worth $2,967,000 after buying an additional 19 shares during the period. Finally, Flputnam Investment Management Co. raised its stake in shares of Deckers Outdoor by 2.9% during the third quarter. Flputnam Investment Management Co. now owns 756 shares of the textile maker’s stock worth $389,000 after buying an additional 21 shares during 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 and apparel for ultra-runners and athletes under the Hoka brand; and sandals, shoes, and boots under the Teva brand name.