Deckers Outdoor Corp. (DECK) Rating Reiterated by Canaccord Genuity

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Deckers Outdoor Corp. (NYSE:DECK)‘s stock had its “buy” rating reiterated by research analysts at Canaccord Genuity in a report released on Sunday. They presently have a $72.00 price target on the stock. Canaccord Genuity’s target price suggests a potential upside of 23.35% from the company’s previous close.
Other equities research analysts have also issued research reports about the stock. B. Riley restated a “neutral” rating and issued a $48.00 target price on shares of Deckers Outdoor Corp. in a research note on Saturday, May 28th. Telsey Advisory Group restated a “hold” rating on shares of Deckers Outdoor Corp. in a research note on Sunday, May 29th. Credit Suisse Group AG restated a “hold” rating on shares of Deckers Outdoor Corp. in a research note on Sunday, May 29th. Bank of America Corp. restated a “hold” rating on shares of Deckers Outdoor Corp. in a research note on Sunday, May 29th. Finally, Jefferies Group restated a “buy” rating on shares of Deckers Outdoor Corp. in a research note on Sunday, September 4th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $61.13.
Shares of Deckers Outdoor Corp. (NYSE:DECK) opened at 58.37 on Friday. The firm has a market capitalization of $1.87 billion, a P/E ratio of 17.28 and a beta of 0.90. The stock’s 50 day moving average is $64.64 and its 200-day moving average is $58.62. Deckers Outdoor Corp. has a 52-week low of $40.74 and a 52-week high of $69.94.

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Deckers Outdoor Corp. (NYSE:DECK) last issued its earnings results on Thursday, July 28th. The company reported ($1.80) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.07) by $0.27. The business had revenue of $174.40 million for the quarter, compared to analyst estimates of $170.48 million. Deckers Outdoor Corp. had a net margin of 6.03% and a return on equity of 14.78%. The company’s revenue for the quarter was down 18.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.43) EPS. On average, equities analysts forecast that Deckers Outdoor Corp. will post $4.31 earnings per share for the current fiscal year.
In related news, Director Angel R. Martinez sold 29,058 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $67.61, for a total value of $1,964,611.38. Following the completion of the sale, the director now owns 393,636 shares in the company, valued at approximately $26,613,729.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David Powers sold 1,750 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $64.17, for a total transaction of $112,297.50. Following the completion of the sale, the chief executive officer now owns 118,873 shares of the company’s stock, valued at approximately $7,628,080.41. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
Other large investors have recently modified their holdings of the company. CIBC World Markets Inc. increased its stake in shares of Deckers Outdoor Corp. by 0.7% in the second quarter. CIBC World Markets Inc. now owns 8,360 shares of the company’s stock valued at $481,000 after buying an additional 60 shares during the period. LS Investment Advisors LLC increased its stake in shares of Deckers Outdoor Corp. by 65.0% in the second quarter. LS Investment Advisors LLC now owns 1,987 shares of the company’s stock valued at $114,000 after buying an additional 783 shares during the period. Aperio Group LLC increased its stake in shares of Deckers Outdoor Corp. by 3.4% in the first quarter. Aperio Group LLC now owns 26,026 shares of the company’s stock valued at $1,559,000 after buying an additional 859 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in shares of Deckers Outdoor Corp. by 1.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 52,474 shares of the company’s stock valued at $3,144,000 after buying an additional 914 shares during the period. Finally, Jensen Investment Management Inc. increased its stake in shares of Deckers Outdoor Corp. by 15.1% in the second quarter. Jensen Investment Management Inc. now owns 8,140 shares of the company’s stock valued at $468,000 after buying an additional 1,070 shares during the period.
Deckers Outdoor Corp. Company Profile
Deckers Outdoor Corporation (Deckers) offers footwear, apparel and accessories. The Company’s segments include operations of Deckers’ brands, such as UGG, Teva, Sanuk and other brands; wholesale divisions; E-Commerce business, and retail store business. It sells its UGG footwear and accessories through department stores, independent specialty retailers and online retailers.

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