Deckers Outdoor (NYSE:DECK) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Deckers Outdoor (NYSE:DECK) in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a $246.00 price target on the textile maker’s stock.

Several other analysts have also recently issued reports on DECK. Stifel Nicolaus upped their target price on shares of Deckers Outdoor from $147.83 to $181.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Evercore ISI upped their price target on shares of Deckers Outdoor from $195.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, January 9th. Robert W. Baird upped 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. Truist Financial upped their price target on shares of Deckers Outdoor from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, KeyCorp upped their price target on shares of Deckers Outdoor from $213.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $197.41.

Deckers Outdoor Stock Performance

Shares of Deckers Outdoor stock opened at $177.85 on Friday. The company has a market capitalization of $27.02 billion, a P/E ratio of 31.27, a P/E/G ratio of 2.41 and a beta of 1.08. The company has a fifty day moving average of $205.90 and a 200 day moving average of $136.11. Deckers Outdoor has a fifty-two week low of $125.15 and a fifty-two week high of $223.98.

Deckers Outdoor (NYSE:DECK) last announced its quarterly earnings results on Thursday, February 6th. The textile maker reported $3.00 EPS for the quarter, topping the consensus estimate of $2.44 by $0.56. Deckers Outdoor had a net margin of 18.95% and a return on equity of 41.48%. Analysts forecast that Deckers Outdoor will post 5.62 EPS for the current year.

Insider Activity at Deckers Outdoor

In related news, Director Maha Saleh Ibrahim sold 300 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $200.80, for a total transaction of $60,240.00. Following the completion of the transaction, the director now owns 10,222 shares of the company’s stock, valued at $2,052,577.60. This trade represents a 2.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Caroti Stefano sold 14,274 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $208.34, for a total transaction of $2,973,845.16. Following the transaction, the chief executive officer now directly owns 259,266 shares of the company’s stock, valued at approximately $54,015,478.44. This trade represents a 5.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,758 shares of company stock valued at $13,506,861 over the last 90 days. Insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. FMR LLC grew its position in Deckers Outdoor by 499.2% during the third quarter. FMR LLC now owns 22,869,485 shares of the textile maker’s stock valued at $3,646,539,000 after buying an additional 19,053,113 shares during the period. State Street Corp grew its position in Deckers Outdoor by 513.8% during the third quarter. State Street Corp now owns 6,584,305 shares of the textile maker’s stock valued at $1,049,867,000 after buying an additional 5,511,513 shares during the period. Geode Capital Management LLC grew its position in shares of Deckers Outdoor by 509.1% in 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 purchasing an additional 3,393,420 shares during the period. JPMorgan Chase & Co. grew its position in shares of Deckers Outdoor by 929.0% in the third quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker’s stock valued at $206,790,000 after purchasing an additional 1,170,855 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Deckers Outdoor by 529.0% in the third 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 valued at $203,674,000 after purchasing an additional 1,074,263 shares during the period. Hedge funds and other 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, apparel, and accessories for ultra-runners and athletes under the HOKA brand name; and sandals, shoes, and boots under the Teva brand name.