Deckers Outdoor Corporation (NYSE:DECK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, May 10th.
According to Zacks, “Shares of Deckers have outpaced the industry in the past one month driven by the news that its board of directors has started a process to review a wide range of strategic alternatives, which include sale or other transaction. The company’s focus on expanding brand assortments, bringing more innovative line of products, targeting consumers digitally through marketing and sturdy eCommerce, along with optimizing omni-channel distribution bode well. However, analyst believes that the company’s over-reliance on the UGG brand is a matter of concern. In the event of stagnation or decline of UGG sales, Deckers’ overall results will be adversely affected. During third-quarter fiscal 2017, UGG brand net sales declined 5.3%. Further, the company also missed the top line for the second straight quarter, which compelled management to trim fiscal 2017 outlook. Of late estimates have been stable ahead of the fourth-quarter earnings release.”
Several other brokerages have also commented on DECK. Stifel Nicolaus increased their price objective on Deckers Outdoor Corporation to $64.00 in a report on Thursday, February 9th. Susquehanna Bancshares Inc upgraded Deckers Outdoor Corporation from a “negative” rating to a “neutral” rating and decreased their price objective for the company from $46.00 to $40.00 in a report on Friday, February 3rd. Buckingham Research upgraded Deckers Outdoor Corporation from a “neutral” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Wednesday, January 18th. Telsey Advisory Group reduced their target price on Deckers Outdoor Corporation from $74.00 to $64.00 and set an “outperform” rating for the company in a research note on Friday, February 3rd. Finally, B. Riley reaffirmed a “neutral” rating and issued a $58.00 target price on shares of Deckers Outdoor Corporation in a report on Friday, January 27th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $64.93.
Shares of Deckers Outdoor Corporation (NYSE DECK) traded down 0.45% during trading on Wednesday, hitting $68.76. The company had a trading volume of 393,636 shares. Deckers Outdoor Corporation has a 52 week low of $44.00 and a 52 week high of $72.72. The firm’s 50 day moving average is $63.31 and its 200-day moving average is $58.09. The stock has a market capitalization of $2.20 billion, a P/E ratio of 386.29 and a beta of 1.11.
Deckers Outdoor Corporation (NYSE:DECK) last issued its quarterly earnings data on Thursday, May 25th. The textile maker reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.17. Deckers Outdoor Corporation had a return on equity of 12.48% and a net margin of 0.32%. The firm had revenue of $369.47 million during the quarter, compared to analyst estimates of $357.71 million. During the same quarter in the prior year, the business posted $0.11 EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. Equities research analysts anticipate that Deckers Outdoor Corporation will post $4.04 EPS for the current fiscal year.
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Several institutional investors have recently modified their holdings of DECK. Parametrica Management Ltd acquired a new position in shares of Deckers Outdoor Corporation during the first quarter worth approximately $214,000. Comerica Bank increased its position in shares of Deckers Outdoor Corporation by 5.9% in the fourth quarter. Comerica Bank now owns 23,587 shares of the textile maker’s stock worth $1,378,000 after buying an additional 1,316 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Deckers Outdoor Corporation during the fourth quarter worth approximately $1,964,000. Envestnet Asset Management Inc. increased its position in shares of Deckers Outdoor Corporation by 2.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,288 shares of the textile maker’s stock worth $126,000 after buying an additional 55 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Deckers Outdoor Corporation by 43.2% in the first quarter. Canada Pension Plan Investment Board now owns 44,085 shares of the textile maker’s stock worth $2,633,000 after buying an additional 13,300 shares in the last quarter.
About Deckers Outdoor Corporation
Deckers Outdoor Corporation is engaged in designing, marketing and distributing footwear, apparel and accessories for both everyday casual lifestyle use and high performance activities. The Company’s segments include operations of its brands, such as UGG, Teva, Sanuk and other brands; wholesale divisions, and Direct-to-Consumer (DTC) business, which includes E-Commerce business and retail store business.
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