Deckers Outdoor Co. (NYSE:DECK) Director Sells $32,724.00 in Stock

Deckers Outdoor Co. (NYSE:DECK) Director Maha Saleh Ibrahim sold 300 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $109.08, for a total value of $32,724.00. Following the transaction, the director now owns 10,681 shares of the company’s stock, valued at approximately $1,165,083.48. This trade represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Deckers Outdoor Price Performance

Shares of NYSE:DECK opened at $109.29 on Monday. The business’s 50 day simple moving average is $112.31 and its 200 day simple moving average is $152.99. The company has a market capitalization of $16.33 billion, a P/E ratio of 17.72, a P/E/G ratio of 1.68 and a beta of 1.02. Deckers Outdoor Co. has a 1 year low of $93.72 and a 1 year high of $223.98.

Deckers Outdoor (NYSE:DECK) last announced its quarterly earnings results on Thursday, May 22nd. The textile maker reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.43. Deckers Outdoor had a return on equity of 41.71% and a net margin of 19.14%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the company earned $0.82 EPS. Deckers Outdoor’s revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Deckers Outdoor Co. will post 5.89 EPS for the current fiscal year.

Deckers Outdoor declared that its Board of Directors has approved a stock buyback program on Thursday, May 22nd that authorizes the company to buyback $2.25 billion in outstanding shares. This buyback authorization authorizes the textile maker to repurchase up to 11.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Inspire Investing LLC increased its position in Deckers Outdoor by 120.4% in the 1st quarter. Inspire Investing LLC now owns 2,792 shares of the textile maker’s stock valued at $312,000 after buying an additional 1,525 shares in the last quarter. Strs Ohio purchased a new position in shares of Deckers Outdoor in the 1st quarter worth approximately $34,661,000. Jacobi Capital Management LLC purchased a new stake in Deckers Outdoor in the first quarter worth $491,000. Acadian Asset Management LLC increased its position in Deckers Outdoor by 149.2% in the first quarter. Acadian Asset Management LLC now owns 23,773 shares of the textile maker’s stock worth $2,656,000 after buying an additional 14,234 shares during the last quarter. Finally, IFM Investors Pty Ltd increased its position in Deckers Outdoor by 3.5% in the first quarter. IFM Investors Pty Ltd now owns 31,723 shares of the textile maker’s stock worth $3,547,000 after buying an additional 1,060 shares during the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DECK shares. Piper Sandler dropped their price target on Deckers Outdoor from $210.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. TD Securities raised their price target on Deckers Outdoor from $150.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. KGI Securities raised Deckers Outdoor to a “hold” rating in a research note on Monday, May 26th. Raymond James reaffirmed a “strong-buy” rating on shares of Deckers Outdoor in a research note on Friday, May 23rd. Finally, Wells Fargo & Company decreased their price target on Deckers Outdoor from $120.00 to $100.00 and set an “equal weight” rating for the company in a research report on Friday, May 23rd. Thirteen analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $134.68.

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