Truist Financial Forecasts Strong Price Appreciation for Deckers Outdoor (NYSE:DECK) Stock

Deckers Outdoor (NYSE:DECK) had its price objective increased by Truist Financial from $230.00 to $235.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the textile maker’s stock. Truist Financial’s target price would indicate a potential upside of 11.82% from the company’s previous close.

Several other equities analysts have also recently weighed in on DECK. Bank of America increased their price objective on shares of Deckers Outdoor from $170.00 to $182.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Evercore ISI increased their price target on shares of Deckers Outdoor from $195.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, January 9th. Robert W. Baird boosted their price objective on shares of Deckers Outdoor from $195.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Needham & Company LLC raised their target price on Deckers Outdoor from $226.00 to $246.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Stifel Nicolaus boosted their price target on Deckers Outdoor from $147.83 to $181.00 and gave the company a “hold” rating in a report on Friday, October 25th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $165.06.

Deckers Outdoor Price Performance

Deckers Outdoor stock opened at $210.15 on Thursday. Deckers Outdoor has a one year low of $120.23 and a one year high of $214.70. The business’s fifty day moving average is $199.20 and its 200 day moving average is $123.15. The stock has a market capitalization of $31.93 billion, a PE ratio of 36.96, a price-to-earnings-growth ratio of 2.89 and a beta of 1.08.

Deckers Outdoor (NYSE:DECK) last announced its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.35. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.20 billion. Deckers Outdoor had a net margin of 18.95% and a return on equity of 41.48%. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.14 earnings per share. As a group, sell-side analysts expect that Deckers Outdoor will post 5.53 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Thomas Garcia sold 18,000 shares of the stock in a transaction that occurred 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 owns 63,642 shares of the company’s stock, valued at $11,155,169.76. This represents a 22.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Angela Ogbechie sold 1,278 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $163.24, for a total transaction of $208,620.72. Following the completion of the sale, the insider now directly owns 29,628 shares of the company’s stock, valued at approximately $4,836,474.72. This trade represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,036 shares of company stock worth $13,715,482. 0.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Global Trust Asset Management LLC bought a new stake in Deckers Outdoor during the fourth quarter valued at about $31,000. Solstein Capital LLC grew its holdings in Deckers Outdoor by 500.0% in the third quarter. Solstein Capital LLC now owns 162 shares of the textile maker’s stock worth $26,000 after purchasing an additional 135 shares during the last quarter. Bell Investment Advisors Inc increased its position in shares of Deckers Outdoor by 521.4% during the third quarter. Bell Investment Advisors Inc now owns 174 shares of the textile maker’s stock worth $28,000 after purchasing an additional 146 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of Deckers Outdoor by 2,000.0% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 210 shares of the textile maker’s stock valued at $32,000 after purchasing an additional 200 shares during the last quarter. Finally, Rakuten Securities Inc. boosted its position in shares of Deckers Outdoor by 397.7% in the 3rd quarter. Rakuten Securities Inc. now owns 219 shares of the textile maker’s stock worth $35,000 after purchasing an additional 175 shares in 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, apparel, and accessories for ultra-runners and athletes under the HOKA brand name; and sandals, shoes, and boots under the Teva brand name.