Q3 2023 EPS Estimates for Deckers Outdoor Co. Reduced by Analyst (NYSE:DECK)

Deckers Outdoor Co. (NYSE:DECKGet Rating) – Wedbush lowered their Q3 2023 earnings per share (EPS) estimates for Deckers Outdoor in a research report issued on Thursday, September 15th. Wedbush analyst T. Nikic now expects that the textile maker will earn $10.16 per share for the quarter, down from their previous forecast of $10.27. Wedbush currently has a “Outperform” rating and a $410.00 target price on the stock. The consensus estimate for Deckers Outdoor’s current full-year earnings is $18.10 per share. Wedbush also issued estimates for Deckers Outdoor’s Q4 2023 earnings at $2.90 EPS.

Several other research analysts have also weighed in on DECK. Cowen upped their target price on Deckers Outdoor from $407.00 to $415.00 in a research report on Friday, July 29th. Jefferies Financial Group lowered Deckers Outdoor from a “buy” rating to a “hold” rating and dropped their target price for the stock from $350.00 to $300.00 in a research report on Monday, August 1st. Cowen upped their target price on Deckers Outdoor from $407.00 to $415.00 in a research report on Friday, July 29th. Stifel Nicolaus increased their price objective on Deckers Outdoor from $338.00 to $339.00 in a report on Wednesday, July 20th. Finally, UBS Group increased their price objective on Deckers Outdoor from $378.00 to $400.00 and gave the company a “buy” rating in a report on Friday, July 29th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $381.10.

Deckers Outdoor Trading Up 1.7 %

NYSE:DECK opened at $342.93 on Monday. The firm has a market capitalization of $9.10 billion, a price-to-earnings ratio of 21.10 and a beta of 0.90. Deckers Outdoor has a 1-year low of $212.93 and a 1-year high of $448.07. The business’s fifty day moving average price is $316.45 and its 200 day moving average price is $281.99.

Deckers Outdoor (NYSE:DECKGet Rating) last announced its earnings results on Thursday, July 28th. The textile maker reported $1.66 EPS for the quarter, beating the consensus estimate of $1.33 by $0.33. The business had revenue of $614.46 million during the quarter, compared to the consensus estimate of $575.31 million. Deckers Outdoor had a return on equity of 29.72% and a net margin of 13.76%.

Deckers Outdoor declared that its board has approved a stock buyback program on Thursday, July 28th that authorizes the company to buyback $1.20 billion in shares. This buyback authorization authorizes the textile maker to reacquire up to 14.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Deckers Outdoor

In related news, Director Bonita C. Stewart sold 500 shares of the stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $350.00, for a total transaction of $175,000.00. Following the completion of the sale, the director now owns 14,019 shares in the company, valued at approximately $4,906,650. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Deckers Outdoor news, CEO David Powers sold 2,925 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $349.50, for a total value of $1,022,287.50. Following the completion of the sale, the chief executive officer now owns 100,972 shares in the company, valued at approximately $35,289,714. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bonita C. Stewart sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $350.00, for a total value of $175,000.00. Following the completion of the sale, the director now owns 14,019 shares of the company’s stock, valued at approximately $4,906,650. The disclosure for this sale can be found here. 0.80% of the stock is owned by corporate insiders.

Institutional Trading of Deckers Outdoor

Hedge funds have recently modified their holdings of the company. Endurance Wealth Management Inc. bought a new position in shares of Deckers Outdoor during the 1st quarter worth approximately $27,000. Parallel Advisors LLC lifted its position in shares of Deckers Outdoor by 70.3% during the 2nd quarter. Parallel Advisors LLC now owns 126 shares of the textile maker’s stock worth $32,000 after buying an additional 52 shares during the period. Allworth Financial LP lifted its position in shares of Deckers Outdoor by 15,500.0% during the 1st quarter. Allworth Financial LP now owns 156 shares of the textile maker’s stock worth $43,000 after buying an additional 155 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Deckers Outdoor during the 1st quarter worth approximately $43,000. Finally, Quadrant Capital Group LLC lifted its position in shares of Deckers Outdoor by 187.1% during the 1st quarter. Quadrant Capital Group LLC now owns 178 shares of the textile maker’s stock worth $49,000 after buying an additional 116 shares during the period. Institutional investors own 97.45% of the company’s stock.

Deckers Outdoor Company Profile

(Get Rating)

Deckers Outdoor Corporation, together with its subsidiaries, designs, markets, and distributes footwear, apparel, and accessories for casual lifestyle use and high-performance activities. The company offers premium footwear, apparel, and accessories under the UGG brand name; sandals, shoes, and boots under the Teva brand name; and relaxed casual shoes and sandals under the Sanuk brand name.

Further Reading

Earnings History and Estimates for Deckers Outdoor (NYSE:DECK)

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