Deckers Outdoor (NYSE:DECK) Shares Down 6.3%

Deckers Outdoor Co. (NYSE:DECK) traded down 6.3% during mid-day trading on Wednesday . The stock traded as low as $851.85 and last traded at $879.49. 308,577 shares changed hands during mid-day trading, a decline of 22% from the average session volume of 393,787 shares. The stock had previously closed at $939.05.

Analyst Ratings Changes

A number of equities analysts have recently commented on DECK shares. Wedbush lifted their price target on shares of Deckers Outdoor from $1,000.00 to $1,030.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Bank of America boosted their price target on shares of Deckers Outdoor from $860.00 to $1,020.00 and gave the stock a “neutral” rating in a research report on Friday, May 24th. Wells Fargo & Company boosted their target price on shares of Deckers Outdoor from $775.00 to $1,000.00 and gave the company an “equal weight” rating in a report on Friday, May 24th. Robert W. Baird increased their price target on Deckers Outdoor from $975.00 to $1,050.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Finally, Truist Financial raised Deckers Outdoor from a “hold” rating to a “buy” rating and raised their target price for the stock from $1,011.00 to $1,200.00 in a research note on Tuesday, May 28th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Deckers Outdoor has a consensus rating of “Moderate Buy” and an average target price of $1,023.44.

Deckers Outdoor Stock Performance

The firm has a market cap of $22.50 billion, a price-to-earnings ratio of 29.63, a P/E/G ratio of 3.18 and a beta of 1.06. The business has a 50 day simple moving average of $965.21 and a 200-day simple moving average of $874.06.

Deckers Outdoor (NYSE:DECK) last announced its quarterly earnings results on Thursday, May 23rd. The textile maker reported $4.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $2.13. Deckers Outdoor had a return on equity of 38.85% and a net margin of 17.69%. The business had revenue of $959.76 million during the quarter, compared to the consensus estimate of $892.00 million. During the same quarter in the prior year, the company posted $3.46 earnings per share. Deckers Outdoor’s revenue was up 21.2% compared to the same quarter last year. As a group, research analysts anticipate that Deckers Outdoor Co. will post 30.59 earnings per share for the current year.

Insider Activity

In related news, CEO David Powers sold 10,955 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $1,086.50, for a total transaction of $11,902,607.50. Following the completion of the sale, the chief executive officer now owns 76,006 shares in the company, valued at $82,580,519. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Angela Ogbechie sold 153 shares of Deckers Outdoor stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $1,077.93, for a total value of $164,923.29. Following the completion of the transaction, the insider now owns 3,779 shares in the company, valued at $4,073,497.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Powers sold 10,955 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $1,086.50, for a total transaction of $11,902,607.50. Following the completion of the transaction, the chief executive officer now directly owns 76,006 shares of the company’s stock, valued at $82,580,519. The disclosure for this sale can be found here. Insiders sold a total of 28,101 shares of company stock valued at $28,858,562 over the last three months. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Deckers Outdoor

Hedge funds and other institutional investors have recently bought and sold shares of the business. CIBC Private Wealth Group LLC raised its stake in shares of Deckers Outdoor by 1.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 945 shares of the textile maker’s stock valued at $632,000 after purchasing an additional 15 shares during the period. Janiczek Wealth Management LLC boosted its position in shares of Deckers Outdoor by 20.8% in the fourth quarter. Janiczek Wealth Management LLC now owns 93 shares of the textile maker’s stock valued at $62,000 after acquiring an additional 16 shares during the period. Somerset Trust Co grew its stake in Deckers Outdoor by 11.3% during the second quarter. Somerset Trust Co now owns 247 shares of the textile maker’s stock valued at $239,000 after acquiring an additional 25 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in Deckers Outdoor by 28.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 116 shares of the textile maker’s stock worth $112,000 after acquiring an additional 26 shares during the period. Finally, First Horizon Advisors Inc. lifted its stake in Deckers Outdoor by 18.5% in the 4th quarter. First Horizon Advisors Inc. now owns 179 shares of the textile maker’s stock worth $120,000 after purchasing an additional 28 shares in the last quarter. 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 and apparel for ultra-runners and athletes under the Hoka brand; and sandals, shoes, and boots under the Teva brand name.