Deckers Outdoor (NYSE:DECK) Upgraded to “Buy” at ValuEngine

ValuEngine upgraded shares of Deckers Outdoor (NYSE:DECK) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning, ValuEngine reports.

A number of other research firms also recently weighed in on DECK. Bank of America raised shares of Deckers Outdoor from a neutral rating to a buy rating and upped their target price for the stock from $150.00 to $180.00 in a research report on Tuesday, May 21st. Wells Fargo & Co began coverage on shares of Deckers Outdoor in a research note on Tuesday, April 23rd. They issued a market perform rating and a $163.00 price target on the stock. Pivotal Research upped their price target on shares of Deckers Outdoor to $152.00 in a research note on Friday, May 24th. Zacks Investment Research cut shares of Deckers Outdoor from a strong-buy rating to a hold rating in a research note on Wednesday, April 3rd. Finally, Susquehanna Bancshares reiterated a neutral rating and issued a $161.00 price target (up previously from $150.00) on shares of Deckers Outdoor in a research note on Wednesday, February 27th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $146.50.

NYSE:DECK opened at $174.37 on Tuesday. The stock has a market capitalization of $5.02 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 1.75 and a beta of 0.75. The company has a current ratio of 4.37, a quick ratio of 3.26 and a debt-to-equity ratio of 0.03. Deckers Outdoor has a 1-year low of $101.69 and a 1-year high of $176.80.

Deckers Outdoor (NYSE:DECK) last released its earnings results on Thursday, May 23rd. The textile maker reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.75. The firm had revenue of $394.10 million for the quarter, compared to the consensus estimate of $378.82 million. Deckers Outdoor had a net margin of 13.08% and a return on equity of 27.32%. The company’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 EPS. On average, analysts forecast that Deckers Outdoor will post 8.45 EPS for the current fiscal year.

In other Deckers Outdoor news, COO David E. Lafitte sold 1,350 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $151.27, for a total transaction of $204,214.50. Following the transaction, the chief operating officer now owns 23,113 shares in the company, valued at approximately $3,496,303.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauri M. Shanahan sold 1,813 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $155.53, for a total transaction of $281,975.89. Following the transaction, the director now owns 12,131 shares in the company, valued at approximately $1,886,734.43. The disclosure for this sale can be found here. Insiders have sold a total of 5,263 shares of company stock worth $807,763 in the last 90 days. Company insiders own 0.40% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Marshall Wace North America L.P. bought a new position in Deckers Outdoor during the 1st quarter valued at about $602,000. Ocean Capital Management LLC lifted its stake in Deckers Outdoor by 53.4% during the 1st quarter. Ocean Capital Management LLC now owns 10,574 shares of the textile maker’s stock valued at $1,554,000 after acquiring an additional 3,679 shares during the period. Nordea Investment Management AB lifted its stake in Deckers Outdoor by 2.7% during the 1st quarter. Nordea Investment Management AB now owns 30,100 shares of the textile maker’s stock valued at $4,424,000 after acquiring an additional 800 shares during the period. FMR LLC lifted its stake in Deckers Outdoor by 39.9% during the 1st quarter. FMR LLC now owns 1,578,078 shares of the textile maker’s stock valued at $231,961,000 after acquiring an additional 449,854 shares during the period. Finally, V Wealth Advisors LLC bought a new position in Deckers Outdoor during the 1st quarter valued at about $202,000.

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. It offers premium footwear, apparel, and accessories under the UGG brand name; sandals, shoes, and boots under the Teva brand name; and footwear under the Sanuk brand name.

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Analyst Recommendations for Deckers Outdoor (NYSE:DECK)

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