Wedbush Weighs in on Deckers Outdoor Corporation’s FY2018 Earnings (DECK)

Deckers Outdoor Corporation (NYSE:DECK) – Stock analysts at Wedbush raised their FY2018 EPS estimates for shares of Deckers Outdoor in a report issued on Tuesday. Wedbush analyst C. Svezia now forecasts that the textile maker will earn $4.40 per share for the year, up from their previous estimate of $4.23. Wedbush currently has a “Neutral” rating and a $72.00 price target on the stock. Wedbush also issued estimates for Deckers Outdoor’s FY2019 earnings at $5.10 EPS.

DECK has been the subject of several other research reports. FIG Partners reissued a “buy” rating on shares of Deckers Outdoor in a research report on Monday, October 16th. Robert W. Baird reissued a “hold” rating and issued a $67.00 price target on shares of Deckers Outdoor in a research report on Friday, October 6th. BidaskClub downgraded shares of Deckers Outdoor from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. UBS downgraded shares of Deckers Outdoor to a “neutral” rating in a research report on Monday, October 16th. Finally, Canaccord Genuity set a $76.00 price target on shares of Deckers Outdoor and gave the company a “buy” rating in a research report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $71.69.

Deckers Outdoor (NYSE:DECK) traded up $0.19 during midday trading on Wednesday, reaching $79.21. 266,342 shares of the company traded hands, compared to its average volume of 740,530. Deckers Outdoor has a twelve month low of $44.00 and a twelve month high of $80.75. The company has a current ratio of 2.43, a quick ratio of 1.26 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2,530.00, a P/E ratio of 17.70, a P/E/G ratio of 1.72 and a beta of 1.26.

Deckers Outdoor (NYSE:DECK) last announced its quarterly earnings data on Thursday, October 26th. The textile maker reported $1.54 EPS for the quarter, topping the consensus estimate of $1.02 by $0.52. The company had revenue of $482.50 million during the quarter, compared to the consensus estimate of $440.11 million. Deckers Outdoor had a net margin of 1.80% and a return on equity of 15.23%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the firm posted $1.21 EPS.

Deckers Outdoor announced that its board has approved a share buyback program on Thursday, October 26th that allows the company to buyback $335.00 million in outstanding shares. This buyback authorization allows the textile maker to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

A number of institutional investors and hedge funds have recently bought and sold shares of DECK. Flinton Capital Management LLC boosted its holdings in Deckers Outdoor by 74.2% during the 2nd quarter. Flinton Capital Management LLC now owns 1,728 shares of the textile maker’s stock worth $118,000 after acquiring an additional 736 shares during the last quarter. Riverhead Capital Management LLC boosted its holdings in Deckers Outdoor by 75.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,931 shares of the textile maker’s stock worth $132,000 after acquiring an additional 831 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Deckers Outdoor by 91.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,543 shares of the textile maker’s stock worth $175,000 after acquiring an additional 1,213 shares during the last quarter. Parallax Volatility Advisers L.P. boosted its holdings in Deckers Outdoor by 401.9% during the 2nd quarter. Parallax Volatility Advisers L.P. now owns 2,654 shares of the textile maker’s stock worth $181,000 after acquiring an additional 3,533 shares during the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new position in Deckers Outdoor during the 3rd quarter worth $202,000. 99.57% of the stock is currently owned by hedge funds and other institutional investors.

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Deckers Outdoor Company Profile

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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