Bank of America Boosts Deckers Outdoor (NYSE:DECK) Price Target to $217.00

Deckers Outdoor (NYSE:DECK) had its price target boosted by equities researchers at Bank of America from $182.00 to $217.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the textile maker’s stock. Bank of America‘s price target indicates a potential upside of 0.91% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company increased their price objective on shares of Deckers Outdoor from $170.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, January 10th. Piper Sandler set a $166.00 price target on Deckers Outdoor in a research report on Thursday, October 17th. UBS Group boosted their price objective on Deckers Outdoor from $226.00 to $232.00 and gave the company a “buy” rating in a research report on Friday, October 25th. BTIG Research lowered Deckers Outdoor from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Seaport Res Ptn cut Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 7th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Deckers Outdoor has a consensus rating of “Moderate Buy” and a consensus price target of $181.20.

Deckers Outdoor Stock Performance

NYSE:DECK opened at $215.04 on Thursday. The stock has a 50-day simple moving average of $201.33 and a 200 day simple moving average of $127.75. Deckers Outdoor has a one year low of $123.33 and a one year high of $218.39. The company has a market capitalization of $32.67 billion, a price-to-earnings ratio of 37.81, a price-to-earnings-growth ratio of 2.96 and a beta of 1.08.

Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.35. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.20 billion. Deckers Outdoor had a return on equity of 41.48% and a net margin of 18.95%. The business’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.14 EPS. On average, equities research analysts forecast that Deckers Outdoor will post 5.56 EPS for the current fiscal year.

Insider Buying and Selling at Deckers Outdoor

In other news, CEO Caroti Stefano sold 14,274 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $208.34, for a total transaction of $2,973,845.16. Following the completion of the sale, the chief executive officer now directly owns 259,266 shares of the company’s stock, valued at $54,015,478.44. This represents a 5.22 % 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, insider Angela Ogbechie sold 1,278 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $163.24, for a total value of $208,620.72. Following the completion of the transaction, the insider now owns 29,628 shares of the company’s stock, valued at $4,836,474.72. This trade represents a 4.14 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,036 shares of company stock valued at $13,715,482. 0.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Solstein Capital LLC lifted its position in shares of Deckers Outdoor by 500.0% in the 3rd quarter. Solstein Capital LLC now owns 162 shares of the textile maker’s stock valued at $26,000 after acquiring an additional 135 shares in the last quarter. Bell Investment Advisors Inc raised its stake in Deckers Outdoor by 521.4% during the 3rd quarter. Bell Investment Advisors Inc now owns 174 shares of the textile maker’s stock valued at $28,000 after purchasing an additional 146 shares during the period. Global Trust Asset Management LLC purchased a new stake in shares of Deckers Outdoor in the fourth quarter valued at $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of Deckers Outdoor by 2,000.0% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 210 shares of the textile maker’s stock worth $32,000 after buying an additional 200 shares during the period. Finally, Rakuten Securities Inc. grew its holdings in shares of Deckers Outdoor by 397.7% during the third quarter. Rakuten Securities Inc. now owns 219 shares of the textile maker’s stock valued at $35,000 after buying an additional 175 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.