Needham & Company LLC Reiterates “Buy” Rating for Deckers Outdoor (NYSE:DECK)

Needham & Company LLC reaffirmed their buy rating on shares of Deckers Outdoor (NYSE:DECK) in a report published on Friday,Benzinga reports. They currently have a $246.00 target price on the textile maker’s stock.

A number of other equities research analysts also recently issued reports on DECK. Evercore ISI boosted their price target on shares of Deckers Outdoor from $195.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, January 9th. Stifel Nicolaus boosted their price target on shares of Deckers Outdoor from $147.83 to $181.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Robert W. Baird boosted their price target on shares of Deckers Outdoor from $195.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. UBS Group boosted their price target on shares of Deckers Outdoor from $226.00 to $232.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $240.00 price target on shares of Deckers Outdoor in a research note on Thursday, January 23rd. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Deckers Outdoor currently has an average rating of “Moderate Buy” and an average target price of $197.41.

Deckers Outdoor Price Performance

Shares of DECK stock opened at $177.85 on Friday. The firm’s 50-day moving average is $205.90 and its two-hundred day moving average is $136.11. Deckers Outdoor has a 12 month low of $125.15 and a 12 month high of $223.98. The company has a market capitalization of $27.02 billion, a PE ratio of 31.27, a price-to-earnings-growth ratio of 2.41 and a beta of 1.08.

Deckers Outdoor (NYSE:DECK) last issued its earnings results on Thursday, February 6th. The textile maker reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.56. Deckers Outdoor had a net margin of 18.95% and a return on equity of 41.48%. Sell-side analysts forecast that Deckers Outdoor will post 5.62 EPS for the current year.

Insider Activity

In related news, CFO Steven J. Fasching sold 8,802 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $175.00, for a total value of $1,540,350.00. Following the completion of the sale, the chief financial officer now owns 153,036 shares in the company, valued at $26,781,300. This represents a 5.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anne Spangenberg sold 3,882 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $186.43, for a total transaction of $723,721.26. Following the completion of the sale, the insider now owns 67,434 shares of the company’s stock, valued at approximately $12,571,720.62. This trade represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,758 shares of company stock worth $13,506,861. Corporate insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Deckers Outdoor

A number of large investors have recently bought and sold shares of the company. FMR LLC raised its position in Deckers Outdoor by 499.2% during the 3rd quarter. FMR LLC now owns 22,869,485 shares of the textile maker’s stock worth $3,646,539,000 after buying an additional 19,053,113 shares during the last quarter. State Street Corp raised its position in Deckers Outdoor by 513.8% during the 3rd quarter. State Street Corp now owns 6,584,305 shares of the textile maker’s stock worth $1,049,867,000 after buying an additional 5,511,513 shares during the last quarter. Geode Capital Management LLC raised its position in Deckers Outdoor by 509.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,059,919 shares of the textile maker’s stock worth $646,316,000 after buying an additional 3,393,420 shares during the last quarter. JPMorgan Chase & Co. raised its position in Deckers Outdoor by 929.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker’s stock worth $206,790,000 after buying an additional 1,170,855 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Deckers Outdoor by 529.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,277,355 shares of the textile maker’s stock worth $203,674,000 after buying an additional 1,074,263 shares during the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

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.