Truist Financial Begins Coverage on Deckers Outdoor (NYSE:DECK)

Truist Financial initiated coverage on shares of Deckers Outdoor (NYSE:DECK) in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage issued a buy rating and a $735.00 price target on the textile maker’s stock.

A number of other equities research analysts have also commented on DECK. BTIG Research increased their price target on Deckers Outdoor from $640.00 to $650.00 and gave the company a buy rating in a research report on Friday, October 27th. Piper Sandler downgraded Deckers Outdoor from an overweight rating to a neutral rating and raised their target price for the stock from $620.00 to $650.00 in a research note on Thursday, November 16th. Wedbush raised their price objective on Deckers Outdoor from $505.00 to $614.00 in a report on Wednesday, July 26th. TD Cowen lifted their price objective on Deckers Outdoor from $564.00 to $618.00 and gave the stock an outperform rating in a research report on Tuesday, August 15th. Finally, StockNews.com initiated coverage on Deckers Outdoor in a research report on Thursday, October 5th. They set a hold rating on the stock. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Deckers Outdoor has a consensus rating of Moderate Buy and a consensus price target of $604.43.

Deckers Outdoor Stock Up 1.4 %

DECK stock opened at $629.50 on Friday. The company has a market cap of $16.20 billion, a PE ratio of 27.17, a price-to-earnings-growth ratio of 1.50 and a beta of 0.95. The business has a 50-day simple moving average of $544.97 and a 200 day simple moving average of $527.74. Deckers Outdoor has a 52 week low of $361.34 and a 52 week high of $638.00.

Deckers Outdoor (NYSE:DECK) last issued its earnings results on Thursday, October 26th. The textile maker reported $6.82 EPS for the quarter, topping the consensus estimate of $4.41 by $2.41. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $960.54 million. Deckers Outdoor had a return on equity of 33.96% and a net margin of 15.51%. The business’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.80 earnings per share. On average, analysts anticipate that Deckers Outdoor will post 23.4 EPS for the current fiscal year.

Insider Activity at Deckers Outdoor

In other Deckers Outdoor news, insider Thomas Garcia sold 7,192 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $562.50, for a total value of $4,045,500.00. Following the completion of the sale, the insider now owns 16,457 shares in the company, valued at $9,257,062.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Thomas Garcia sold 7,192 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $562.50, for a total value of $4,045,500.00. Following the completion of the transaction, the insider now owns 16,457 shares of the company’s stock, valued at $9,257,062.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael F. Devine III sold 4,000 shares of the company’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $587.00, for a total value of $2,348,000.00. Following the completion of the transaction, the director now directly owns 8,088 shares of the company’s stock, valued at approximately $4,747,656. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,787 shares of company stock worth $8,251,144. 0.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Deckers Outdoor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DECK. Creative Planning raised its holdings in shares of Deckers Outdoor by 11.5% in the third quarter. Creative Planning now owns 3,503 shares of the textile maker’s stock worth $1,801,000 after buying an additional 362 shares during the period. Morgan Stanley grew its stake in Deckers Outdoor by 82.6% during 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 last quarter. Royal Bank of Canada lifted its holdings in shares of Deckers Outdoor by 11.7% in the 3rd quarter. Royal Bank of Canada now owns 105,246 shares of the textile maker’s stock valued at $54,106,000 after buying an additional 11,000 shares during the period. Royal London Asset Management Ltd. acquired a new position in shares of Deckers Outdoor in the 3rd quarter valued at about $2,015,000. Finally, Sandler Capital Management acquired a new position in Deckers Outdoor in the 3rd quarter worth about $9,043,000. 95.69% of the stock is currently owned by hedge funds and other institutional investors.

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.