Deckers Outdoor (NYSE:DECK) Shares Gap Down – Here’s Why

Shares of Deckers Outdoor Co. (NYSE:DECK) gapped down before the market opened on Tuesday . The stock had previously closed at $160.01, but opened at $155.00. Deckers Outdoor shares last traded at $156.03, with a volume of 355,316 shares.

Analyst Upgrades and Downgrades

DECK has been the subject of a number of research analyst reports. Wells Fargo & Company cut their price target on Deckers Outdoor from $1,000.00 to $165.00 and set an “equal weight” rating for the company in a report on Monday, September 23rd. Piper Sandler set a $166.00 target price on shares of Deckers Outdoor in a research report on Thursday, October 17th. Evercore ISI raised their price target on shares of Deckers Outdoor from $183.00 to $185.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Seaport Res Ptn cut shares of Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 7th. Finally, TD Cowen increased their price objective on Deckers Outdoor from $176.00 to $178.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Deckers Outdoor presently has an average rating of “Moderate Buy” and a consensus target price of $114.57.

Deckers Outdoor Price Performance

The company has a market capitalization of $3.84 billion, a P/E ratio of 5.15, a PEG ratio of 2.85 and a beta of 1.05. The business’s 50-day moving average price is $99.76 and its two-hundred day moving average price is $51.48.

Deckers Outdoor (NYSE:DECK) last posted its earnings results on Thursday, July 25th. The textile maker reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.03. The firm had revenue of $825.30 million for the quarter, compared to analyst estimates of $808.40 million. Deckers Outdoor had a return on equity of 40.52% and a net margin of 18.45%. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 earnings per share. Research analysts expect that Deckers Outdoor Co. will post 5.22 earnings per share for the current fiscal year.

Insider Activity at Deckers Outdoor

In other Deckers Outdoor news, CFO Steven J. Fasching sold 9,198 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $166.67, for a total transaction of $1,533,030.66. Following the sale, the chief financial officer now directly owns 161,838 shares in the company, valued at approximately $26,973,539.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Steven J. Fasching sold 9,198 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $166.67, for a total value of $1,533,030.66. Following the sale, the chief financial officer now directly owns 161,838 shares in the company, valued at $26,973,539.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David Powers sold 140,832 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $23.97, for a total value of $3,376,368.96. Following the transaction, the director now directly owns 2,450,808 shares of the company’s stock, valued at approximately $58,756,760.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Deckers Outdoor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DECK. Ballentine Partners LLC bought a new position in shares of Deckers Outdoor in the 1st quarter valued at about $277,000. Gateway Investment Advisers LLC acquired a new position in shares of Deckers Outdoor during the 1st quarter worth approximately $483,000. Sunbelt Securities Inc. raised its stake in shares of Deckers Outdoor by 958.3% during the 1st quarter. Sunbelt Securities Inc. now owns 254 shares of the textile maker’s stock worth $239,000 after purchasing an additional 230 shares in the last quarter. Janiczek Wealth Management LLC boosted its holdings in shares of Deckers Outdoor by 69.9% in the 1st quarter. Janiczek Wealth Management LLC now owns 158 shares of the textile maker’s stock valued at $149,000 after buying an additional 65 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Deckers Outdoor by 477.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,883 shares of the textile maker’s stock valued at $4,596,000 after buying an additional 4,037 shares in the last quarter. 97.79% of the stock is currently 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.