Deckers Outdoor (NYSE:DECK) Shares Gap Up Following Strong Earnings

Shares of Deckers Outdoor Co. (NYSE:DECK) gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $152.04, but opened at $169.95. Deckers Outdoor shares last traded at $170.24, with a volume of 2,447,556 shares.

The textile maker reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.37. Deckers Outdoor had a return on equity of 40.52% and a net margin of 18.45%. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the business posted $1.14 EPS. Deckers Outdoor’s revenue was up 20.1% on a year-over-year basis.

Analyst Ratings Changes

DECK has been the subject of several research analyst reports. Truist Financial upped their price target on shares of Deckers Outdoor from $204.17 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Barclays dropped their price target on Deckers Outdoor from $1,090.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, September 20th. Wedbush restated an “outperform” rating and set a $28.61 price objective on shares of Deckers Outdoor in a research report on Friday, July 26th. Guggenheim began coverage on Deckers Outdoor in a report on Wednesday, October 9th. They issued a “neutral” rating on the stock. Finally, Robert W. Baird upped their price objective on shares of Deckers Outdoor from $180.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $135.25.

Insider Activity at Deckers Outdoor

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in DECK. ClariVest Asset Management LLC increased its holdings in Deckers Outdoor by 0.4% in the 2nd quarter. ClariVest Asset Management LLC now owns 3,474 shares of the textile maker’s stock valued at $3,363,000 after buying an additional 14 shares during the period. U S Global Investors Inc. boosted its holdings in Deckers Outdoor by 1.5% during the second quarter. U S Global Investors Inc. now owns 995 shares of the textile maker’s stock valued at $963,000 after purchasing an additional 15 shares in the last quarter. Arkadios Wealth Advisors grew its stake in shares of Deckers Outdoor by 1.4% in the 2nd quarter. Arkadios Wealth Advisors now owns 1,341 shares of the textile maker’s stock valued at $1,298,000 after purchasing an additional 19 shares during the period. Sunbelt Securities Inc. raised its holdings in shares of Deckers Outdoor by 7.5% in the 2nd quarter. Sunbelt Securities Inc. now owns 273 shares of the textile maker’s stock worth $264,000 after buying an additional 19 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Deckers Outdoor by 5.2% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 406 shares of the textile maker’s stock worth $393,000 after buying an additional 20 shares during the period. Institutional investors and hedge funds own 97.79% of the company’s stock.

Deckers Outdoor Trading Up 12.2 %

The company has a 50 day moving average of $102.28 and a 200 day moving average of $52.18. The firm has a market cap of $4.34 billion, a price-to-earnings ratio of 5.85, a price-to-earnings-growth ratio of 2.85 and a beta of 1.05.

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.