Deckers Outdoor (NYSE:DECK) Reaches New 52-Week High Following Earnings Beat

Deckers Outdoor Co. (NYSE:DECK) reached a new 52-week high during mid-day trading on Friday following a better than expected earnings announcement. The stock traded as high as $1,031.97 and last traded at $1,012.57, with a volume of 245485 shares. The stock had previously closed at $904.65.

The textile maker reported $4.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $2.13. Deckers Outdoor had a return on equity of 39.90% and a net margin of 17.69%. The firm had revenue of $959.76 million for the quarter, compared to analysts’ expectations of $892.00 million. During the same quarter in the previous year, the business posted $3.46 earnings per share. The business’s revenue for the quarter was up 21.2% on a year-over-year basis.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Bank of America lifted their target price on Deckers Outdoor from $860.00 to $1,020.00 and gave the company a “neutral” rating in a research report on Friday. Telsey Advisory Group boosted their price target on Deckers Outdoor from $930.00 to $985.00 and gave the stock an “outperform” rating in a report on Monday, May 20th. Stifel Nicolaus boosted their price target on Deckers Outdoor from $775.00 to $825.00 and gave the stock a “hold” rating in a report on Friday. Raymond James boosted their price target on Deckers Outdoor from $585.00 to $845.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Finally, Robert W. Baird boosted their price target on Deckers Outdoor from $975.00 to $1,050.00 and gave the stock an “outperform” rating in a report on Friday. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Deckers Outdoor has an average rating of “Moderate Buy” and an average price target of $999.44.

Insider Transactions at Deckers Outdoor

In other news, CEO David Powers sold 5,993 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly 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 through the SEC website. 0.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Deckers Outdoor

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Deckers Outdoor by 18.9% in the 1st quarter. Vanguard Group Inc. now owns 2,923,154 shares of the textile maker’s stock valued at $2,751,448,000 after purchasing an additional 464,020 shares during the period. Morgan Stanley grew its stake in Deckers Outdoor by 82.6% in the 3rd quarter. Morgan Stanley now owns 1,166,394 shares of the textile maker’s stock valued at $599,633,000 after purchasing an additional 527,546 shares during the period. Invesco Ltd. grew its stake in Deckers Outdoor by 8.9% in the 3rd quarter. Invesco Ltd. now owns 456,957 shares of the textile maker’s stock valued at $234,917,000 after purchasing an additional 37,194 shares during the period. TD Asset Management Inc grew its stake in Deckers Outdoor by 191.1% in the 4th quarter. TD Asset Management Inc now owns 305,949 shares of the textile maker’s stock valued at $204,505,000 after purchasing an additional 200,850 shares during the period. Finally, Norges Bank bought a new position in Deckers Outdoor in the 4th quarter valued at $196,814,000. Institutional investors own 97.79% of the company’s stock.

Deckers Outdoor Stock Performance

The stock has a market cap of $26.51 billion, a P/E ratio of 35.26, a P/E/G ratio of 1.61 and a beta of 1.05. The business has a 50 day simple moving average of $873.78 and a 200-day simple moving average of $794.03.

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.