Deckers Outdoor (NYSE:DECK) Hits New 1-Year Low – Here’s Why

Deckers Outdoor Co. (NYSE:DECK) shares reached a new 52-week low on Friday . The stock traded as low as $111.35 and last traded at $111.93, with a volume of 1287075 shares traded. The stock had previously closed at $116.95.

Analyst Upgrades and Downgrades

DECK has been the topic of a number of recent research reports. Telsey Advisory Group reissued an “outperform” rating and issued a $240.00 target price on shares of Deckers Outdoor in a report on Friday, January 31st. Needham & Company LLC reissued a “buy” rating and issued a $246.00 price target on shares of Deckers Outdoor in a report on Friday, January 31st. KeyCorp boosted their price objective on Deckers Outdoor from $213.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Wells Fargo & Company dropped their target price on Deckers Outdoor from $215.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Finally, Robert W. Baird boosted their price target on shares of Deckers Outdoor from $195.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $197.41.

Deckers Outdoor Stock Performance

The business has a 50 day simple moving average of $155.43 and a 200-day simple moving average of $167.03. The stock has a market capitalization of $16.93 billion, a P/E ratio of 18.08, a price-to-earnings-growth ratio of 1.68 and a beta of 1.10.

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 analysts’ consensus estimates of $2.44 by $0.56. Deckers Outdoor had a return on equity of 41.71% and a net margin of 19.14%. Equities research analysts forecast that Deckers Outdoor Co. will post 5.89 EPS for the current fiscal year.

Insider Buying and Selling

In other Deckers Outdoor news, Director David Powers sold 25,000 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $138.84, for a total transaction of $3,471,000.00. Following the sale, the director now owns 241,777 shares in the company, valued at approximately $33,568,318.68. The trade was a 9.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Maha Saleh Ibrahim sold 300 shares of Deckers Outdoor stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $134.48, for a total transaction of $40,344.00. Following the completion of the transaction, the director now directly owns 10,388 shares in the company, valued at approximately $1,396,978.24. This trade represents a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Deckers Outdoor

Several hedge funds have recently made changes to their positions in DECK. State Street Corp raised its stake in Deckers Outdoor by 513.8% during the 3rd quarter. State Street Corp now owns 6,584,305 shares of the textile maker’s stock valued at $1,049,867,000 after purchasing an additional 5,511,513 shares during the period. Geode Capital Management LLC raised its position in Deckers Outdoor by 509.1% during the third quarter. Geode Capital Management LLC now owns 4,059,919 shares of the textile maker’s stock valued at $646,316,000 after buying an additional 3,393,420 shares during the period. Norges Bank purchased a new stake in Deckers Outdoor in the 4th quarter worth about $392,583,000. JPMorgan Chase & Co. lifted its stake in Deckers Outdoor by 929.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker’s stock worth $206,790,000 after acquiring an additional 1,170,855 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Deckers Outdoor by 529.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,277,355 shares of the textile maker’s stock worth $203,674,000 after acquiring an additional 1,074,263 shares during the period. Hedge funds and other institutional investors 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.