Deckers Outdoor (NYSE:DECK) Reaches New 52-Week High – Time to Buy?

Deckers Outdoor Co. (NYSE:DECK)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $218.39 and last traded at $212.19, with a volume of 175031 shares changing hands. The stock had previously closed at $209.91.

Analyst Ratings Changes

Several brokerages recently commented on DECK. Barclays lifted their price target on shares of Deckers Outdoor from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Truist Financial lifted their target price on Deckers Outdoor from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Needham & Company LLC upped their target price on Deckers Outdoor from $226.00 to $246.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Bank of America lifted their price target on Deckers Outdoor from $170.00 to $182.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Finally, Citigroup boosted their price objective on Deckers Outdoor from $178.00 to $215.00 and gave the company a “neutral” rating in a research note on Thursday. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Deckers Outdoor currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.14.

Deckers Outdoor Trading Up 0.4 %

The business has a 50 day moving average price of $201.33 and a 200-day moving average price of $127.75. The firm has a market capitalization of $32.67 billion, a PE ratio of 37.81, a P/E/G ratio of 2.96 and a beta of 1.08.

Deckers Outdoor (NYSE:DECK) last released its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.35. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Deckers Outdoor had a return on equity of 41.48% and a net margin of 18.95%. Deckers Outdoor’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.14 earnings per share. On average, equities research analysts forecast that Deckers Outdoor Co. will post 5.56 earnings per share for the current year.

Insider Activity

In related news, insider Angela Ogbechie sold 1,278 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $163.24, for a total value of $208,620.72. Following the sale, the insider now owns 29,628 shares in the company, valued at $4,836,474.72. This represents a 4.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Thomas Garcia sold 18,000 shares of Deckers Outdoor stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $175.28, for a total value of $3,155,040.00. Following the transaction, the insider now directly owns 63,642 shares of the company’s stock, valued at approximately $11,155,169.76. This represents a 22.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,036 shares of company stock worth $13,715,482 in the last 90 days. 0.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Deckers Outdoor

Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted 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 acquiring an additional 1,170,855 shares in the last quarter. City Center Advisors LLC purchased a new position in Deckers Outdoor in the 4th quarter valued at about $575,000. B. Riley Wealth Advisors Inc. boosted its stake in shares of Deckers Outdoor by 506.7% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 6,674 shares of the textile maker’s stock worth $1,060,000 after purchasing an additional 5,574 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Deckers Outdoor by 512.9% during the 3rd quarter. Principal Financial Group Inc. now owns 397,434 shares of the textile maker’s stock worth $63,371,000 after purchasing an additional 332,590 shares during the last quarter. Finally, Cadent Capital Advisors LLC grew its holdings in shares of Deckers Outdoor by 116.8% during the fourth quarter. Cadent Capital Advisors LLC now owns 6,479 shares of the textile maker’s stock worth $1,316,000 after buying an additional 3,491 shares in the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

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.