KGI Securities Upgrades Deckers Outdoor (NYSE:DECK) to “Hold”

Deckers Outdoor (NYSE:DECK) was upgraded by research analysts at KGI Securities to a “hold” rating in a report issued on Monday,Zacks.com reports.

Several other brokerages also recently issued reports on DECK. Raymond James reiterated a “strong-buy” rating on shares of Deckers Outdoor in a research report on Friday. Guggenheim reissued a “neutral” rating on shares of Deckers Outdoor in a research report on Friday, January 31st. KeyCorp reaffirmed a “sector weight” rating and set a $150.00 price target on shares of Deckers Outdoor in a research report on Friday, May 23rd. Telsey Advisory Group downgraded Deckers Outdoor from an “outperform” rating to a “market perform” rating in a report on Friday. Finally, Evercore ISI reissued an “in-line” rating and set a $110.00 price target (down from $235.00) on shares of Deckers Outdoor in a report on Friday, May 23rd. Thirteen research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Deckers Outdoor has a consensus rating of “Moderate Buy” and a consensus price target of $134.68.

Deckers Outdoor Stock Up 7.7%

Deckers Outdoor stock opened at $108.79 on Monday. Deckers Outdoor has a 52-week low of $93.72 and a 52-week high of $223.98. The firm has a fifty day moving average of $114.04 and a 200-day moving average of $157.10. The firm has a market capitalization of $16.51 billion, a P/E ratio of 17.64, a PEG ratio of 1.68 and a beta of 1.11.

Deckers Outdoor (NYSE:DECK) last announced its quarterly earnings data on Thursday, May 22nd. The textile maker reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.43. Deckers Outdoor had a return on equity of 41.71% and a net margin of 19.14%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, research analysts expect that Deckers Outdoor will post 5.89 EPS for the current fiscal year.

Deckers Outdoor declared that its board has initiated a share repurchase program on Thursday, May 22nd that permits the company to buyback $2.25 billion in outstanding shares. This buyback authorization permits the textile maker to reacquire up to 11.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insider Activity at Deckers Outdoor

In other news, Director Maha Saleh Ibrahim sold 300 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $134.48, for a total value of $40,344.00. Following the transaction, the director now owns 10,388 shares in the company, valued at $1,396,978.24. This trade represents a 2.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David Powers sold 25,000 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $138.84, for a total transaction of $3,471,000.00. Following the completion of the sale, the director now owns 241,777 shares of the company’s stock, valued at approximately $33,568,318.68. The trade was a 9.37% decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Deckers Outdoor

Several institutional investors and hedge funds have recently bought and sold shares of DECK. Allspring Global Investments Holdings LLC lifted its holdings in Deckers Outdoor by 109.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 449,683 shares of the textile maker’s stock worth $91,965,000 after buying an additional 235,091 shares during the last quarter. Navellier & Associates Inc. grew its holdings in Deckers Outdoor by 6.4% during the 4th quarter. Navellier & Associates Inc. now owns 29,806 shares of the textile maker’s stock valued at $6,053,000 after buying an additional 1,791 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in Deckers Outdoor by 62.6% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 6,928 shares of the textile maker’s stock valued at $1,407,000 after purchasing an additional 2,668 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Deckers Outdoor by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,001,033 shares of the textile maker’s stock worth $203,300,000 after acquiring an additional 32,318 shares during the last quarter. Finally, Amundi increased its stake in Deckers Outdoor by 11.0% in the fourth quarter. Amundi now owns 1,088,351 shares of the textile maker’s stock valued at $225,855,000 after purchasing an additional 108,054 shares during the last quarter. 97.79% 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, apparel, and accessories for ultra-runners and athletes under the HOKA brand name; and sandals, shoes, and boots under the Teva brand name.