Deckers Outdoor (NYSE:DECK) Shares Gap Up After Earnings Beat

Deckers Outdoor Co. (NYSE:DECK)’s stock price gapped up before the market opened on Friday following a stronger than expected earnings report. The stock had previously closed at $841.50, but opened at $959.81. Deckers Outdoor shares last traded at $931.61, with a volume of 268,458 shares.

The textile maker reported $4.52 earnings per share for the quarter, topping the consensus estimate of $3.59 by $0.93. Deckers Outdoor had a net margin of 17.69% and a return on equity of 38.85%. The business had revenue of $825.30 million during the quarter, compared to analysts’ expectations of $808.40 million. During the same quarter in the previous year, the company earned $2.41 EPS. The business’s revenue was up 22.1% on a year-over-year basis.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DECK. Evercore ISI lowered their price objective on Deckers Outdoor from $1,110.00 to $1,100.00 and set an “outperform” rating on the stock in a research note on Monday, July 15th. Telsey Advisory Group restated an “outperform” rating and issued a $1,100.00 price target on shares of Deckers Outdoor in a research report on Friday. Barclays reduced their price objective on shares of Deckers Outdoor from $1,110.00 to $1,026.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 21st. Bank of America boosted their target price on shares of Deckers Outdoor from $860.00 to $1,020.00 and gave the company a “neutral” rating in a research report on Friday, May 24th. Finally, UBS Group increased their price target on shares of Deckers Outdoor from $1,150.00 to $1,265.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,025.94.

Insider Activity

In related news, insider Angela Ogbechie sold 153 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $1,077.93, for a total transaction of $164,923.29. Following the completion of the sale, the insider now owns 3,779 shares of the company’s stock, valued at $4,073,497.47. 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, insider Caroti Stefano sold 5,000 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $1,079.74, for a total value of $5,398,700.00. Following the transaction, the insider now directly owns 39,926 shares of the company’s stock, valued at $43,109,699.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the insider now owns 3,779 shares of the company’s stock, valued at approximately $4,073,497.47. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,108 shares of company stock valued at $23,919,671. 0.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Deckers Outdoor

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC boosted its stake in shares of Deckers Outdoor by 1.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 945 shares of the textile maker’s stock worth $632,000 after buying an additional 15 shares during the last quarter. U S Global Investors Inc. grew 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 during the period. Janiczek Wealth Management LLC increased its position in Deckers Outdoor by 20.8% in the fourth quarter. Janiczek Wealth Management LLC now owns 93 shares of the textile maker’s stock worth $62,000 after buying an additional 16 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Deckers Outdoor by 0.8% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,144 shares of the textile maker’s stock valued at $3,144,000 after buying an additional 24 shares during the period. Finally, Somerset Trust Co lifted its position in shares of Deckers Outdoor by 11.3% during the 2nd quarter. Somerset Trust Co now owns 247 shares of the textile maker’s stock valued at $239,000 after buying an additional 25 shares during the last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

Deckers Outdoor Trading Up 12.2 %

The company has a market cap of $23.98 billion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 2.81 and a beta of 1.06. The firm has a fifty day moving average of $970.49 and a two-hundred day moving average of $888.57.

Deckers Outdoor’s stock is scheduled to split before the market opens on Tuesday, September 17th. The 6-1 split was announced on Tuesday, September 17th. The newly created shares will be distributed to shareholders after the market closes on Tuesday, September 17th.

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 and apparel for ultra-runners and athletes under the Hoka brand; and sandals, shoes, and boots under the Teva brand name.