Deckers Outdoor (NYSE:DECK) Downgraded to “Neutral” at Bank of America

Deckers Outdoor (NYSE:DECK) was downgraded by stock analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, FinViz reports. They presently have a $860.00 target price on the textile maker’s stock, down from their prior target price of $875.00. Bank of America‘s target price points to a potential upside of 0.95% from the stock’s current price.

A number of other research analysts have also recently issued reports on the company. UBS Group lifted their target price on Deckers Outdoor from $950.00 to $1,150.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Stifel Nicolaus lifted their target price on Deckers Outdoor from $709.00 to $775.00 and gave the company a “hold” rating in a research report on Friday, February 2nd. Truist Financial reissued a “hold” rating and set a $864.00 price target (down from $983.00) on shares of Deckers Outdoor in a research note on Wednesday, April 10th. Evercore ISI assumed coverage on Deckers Outdoor in a research note on Thursday, February 15th. They set an “outperform” rating and a $960.00 price target on the stock. Finally, KeyCorp assumed coverage on Deckers Outdoor in a research note on Wednesday, February 7th. They set an “overweight” rating and a $960.00 price target on the stock. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Deckers Outdoor has an average rating of “Moderate Buy” and a consensus target price of $889.00.

Deckers Outdoor Stock Performance

Shares of NYSE DECK opened at $851.90 on Thursday. Deckers Outdoor has a 52 week low of $424.36 and a 52 week high of $956.17. The stock has a market capitalization of $21.87 billion, a P/E ratio of 30.64, a PEG ratio of 1.47 and a beta of 1.01. The stock’s fifty day moving average is $884.14 and its 200 day moving average is $743.84.

Deckers Outdoor (NYSE:DECK) last released its earnings results on Thursday, February 1st. The textile maker reported $15.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.40 by $3.71. Deckers Outdoor had a return on equity of 38.77% and a net margin of 17.57%. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the previous year, the business posted $10.48 earnings per share. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. Equities research analysts forecast that Deckers Outdoor will post 26.87 earnings per share for the current year.

Insider Buying and Selling at Deckers Outdoor

In other Deckers Outdoor news, Director Lauri M. Shanahan sold 3,672 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $832.22, for a total value of $3,055,911.84. Following the transaction, the director now directly owns 4,515 shares of the company’s stock, valued at $3,757,473.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Deckers Outdoor news, Director Lauri M. Shanahan sold 3,672 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $832.22, for a total value of $3,055,911.84. Following the transaction, the director now directly owns 4,515 shares of the company’s stock, valued at $3,757,473.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Steven J. Fasching sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $844.40, for a total value of $4,222,000.00. Following the sale, the chief financial officer now owns 29,291 shares of the company’s stock, valued at approximately $24,733,320.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,464 shares of company stock valued at $26,229,683. 0.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DECK. V Square Quantitative Management LLC lifted its position in shares of Deckers Outdoor by 71.0% during the 1st quarter. V Square Quantitative Management LLC now owns 583 shares of the textile maker’s stock valued at $549,000 after buying an additional 242 shares during the last quarter. Simplicity Wealth LLC purchased a new position in shares of Deckers Outdoor during the 1st quarter valued at $201,000. Assenagon Asset Management S.A. lifted its position in shares of Deckers Outdoor by 395.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 50,027 shares of the textile maker’s stock valued at $47,088,000 after buying an additional 39,932 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Deckers Outdoor by 54.6% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 184 shares of the textile maker’s stock valued at $173,000 after buying an additional 65 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its position in shares of Deckers Outdoor by 103.7% during the 1st quarter. Global Retirement Partners LLC now owns 218 shares of the textile maker’s stock valued at $205,000 after buying an additional 111 shares during the last quarter. 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 and apparel for ultra-runners and athletes under the Hoka brand; and sandals, shoes, and boots under the Teva brand name.