Deckers Outdoor (NYSE:DECK) Downgraded to “Neutral” at Bank of America

Deckers Outdoor (NYSE:DECK) was downgraded by research analysts at Bank of America from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, FinViz reports. They presently have a $860.00 price objective on the textile maker’s stock, down from their previous price objective of $875.00. Bank of America‘s price objective suggests a potential upside of 0.95% from the company’s current price.

Several other brokerages have also recently issued reports on DECK. Truist Financial reaffirmed a “hold” rating and issued a $864.00 price objective (down previously from $983.00) on shares of Deckers Outdoor in a research note on Wednesday, April 10th. Telsey Advisory Group reissued an “outperform” rating and issued a $930.00 target price on shares of Deckers Outdoor in a research report on Thursday, February 15th. KeyCorp started coverage on shares of Deckers Outdoor in a research report on Wednesday, February 7th. They issued an “overweight” rating and a $960.00 target price on the stock. Stifel Nicolaus lifted their target price on shares of Deckers Outdoor from $709.00 to $775.00 and gave the stock a “hold” rating in a research report on Friday, February 2nd. Finally, TD Cowen lifted their target price on shares of Deckers Outdoor from $1,000.00 to $1,005.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $889.00.

Deckers Outdoor Trading Up 2.7 %

Deckers Outdoor stock opened at $851.90 on Thursday. The stock has a market cap of $21.87 billion, a price-to-earnings ratio of 30.64, a PEG ratio of 1.47 and a beta of 1.01. The company’s 50-day moving average price is $884.14 and its two-hundred day moving average price is $743.84. Deckers Outdoor has a 52 week low of $424.36 and a 52 week high of $956.17.

Deckers Outdoor (NYSE:DECK) last announced its quarterly earnings data on Thursday, February 1st. The textile maker reported $15.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.40 by $3.71. The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Deckers Outdoor had a net margin of 17.57% and a return on equity of 38.77%. The business’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.48 EPS. Research analysts expect that Deckers Outdoor will post 26.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO David Powers sold 5,993 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 98,218 shares of the company’s stock, valued at $80,942,435.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Deckers Outdoor news, Director Bonita C. Stewart sold 3,500 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $871.11, for a total value of $3,048,885.00. Following the sale, the director now owns 8,863 shares of the company’s stock, valued at approximately $7,720,647.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David Powers sold 5,993 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 98,218 shares in the company, valued at approximately $80,942,435.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,464 shares of company stock valued at $26,229,683. 0.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Deckers Outdoor

Institutional investors and hedge funds have recently bought and sold shares of the business. Advisor Resource Council bought a new stake in Deckers Outdoor in the 4th quarter valued at $970,000. Advisors Preferred LLC acquired a new stake in shares of Deckers Outdoor in the 4th quarter valued at $2,271,000. Louisiana State Employees Retirement System acquired a new stake in shares of Deckers Outdoor in the 4th quarter valued at $4,813,000. First Trust Direct Indexing L.P. boosted its stake in shares of Deckers Outdoor by 12.5% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 458 shares of the textile maker’s stock valued at $235,000 after purchasing an additional 51 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Deckers Outdoor during the 4th quarter worth about $73,722,000. Institutional investors 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.