Deckers Outdoor Corporation (DECK) Downgraded by BidaskClub
BidaskClub cut shares of Deckers Outdoor Corporation (NYSE:DECK) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.
DECK has been the topic of several other research reports. Morgan Stanley increased their target price on Deckers Outdoor Corporation from $59.00 to $61.00 and gave the company an equal weight rating in a research note on Monday, August 7th. Canaccord Genuity set a $76.00 target price on Deckers Outdoor Corporation and gave the company a buy rating in a research note on Wednesday, October 25th. Pivotal Research began coverage on Deckers Outdoor Corporation in a research note on Thursday, October 5th. They issued a buy rating and a $80.00 target price on the stock. ValuEngine raised Deckers Outdoor Corporation from a hold rating to a buy rating in a research note on Wednesday, September 6th. Finally, Susquehanna Bancshares Inc reissued a neutral rating and issued a $57.00 target price on shares of Deckers Outdoor Corporation in a research note on Thursday, September 14th. 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. Deckers Outdoor Corporation has an average rating of Hold and a consensus price target of $69.43.
Deckers Outdoor Corporation (NYSE DECK) traded up $1.95 during trading hours on Tuesday, reaching $68.45. The company’s stock had a trading volume of 510,400 shares, compared to its average volume of 752,195. Deckers Outdoor Corporation has a 1 year low of $44.00 and a 1 year high of $73.45. The company has a quick ratio of 1.26, a current ratio of 2.43 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2,125.43, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 1.45 and a beta of 1.19.
Deckers Outdoor Corporation (NYSE:DECK) last released its earnings results on Thursday, October 26th. The textile maker reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.52. Deckers Outdoor Corporation had a return on equity of 15.23% and a net margin of 1.80%. The firm had revenue of $482.50 million for the quarter, compared to analyst estimates of $440.11 million. During the same quarter in the prior year, the firm posted $1.21 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. sell-side analysts expect that Deckers Outdoor Corporation will post 4.3 EPS for the current year.
Deckers Outdoor Corporation declared that its board has initiated a share buyback program on Thursday, October 26th that permits the company to buyback $335.00 million in shares. This buyback authorization permits the textile maker to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.
Large investors have recently bought and sold shares of the stock. Flinton Capital Management LLC grew its holdings in shares of Deckers Outdoor Corporation by 74.2% during the second quarter. Flinton Capital Management LLC now owns 1,728 shares of the textile maker’s stock worth $118,000 after buying an additional 736 shares in the last quarter. Riverhead Capital Management LLC grew its holdings in shares of Deckers Outdoor Corporation by 75.5% during the second quarter. Riverhead Capital Management LLC now owns 1,931 shares of the textile maker’s stock worth $132,000 after buying an additional 831 shares in the last quarter. James Investment Research Inc. bought a new position in shares of Deckers Outdoor Corporation during the second quarter worth about $148,000. PNC Financial Services Group Inc. grew its holdings in shares of Deckers Outdoor Corporation by 91.2% during the second quarter. PNC Financial Services Group Inc. now owns 2,543 shares of the textile maker’s stock worth $175,000 after buying an additional 1,213 shares in the last quarter. Finally, Parallax Volatility Advisers L.P. boosted its position in Deckers Outdoor Corporation by 401.9% during the second quarter. Parallax Volatility Advisers L.P. now owns 2,654 shares of the textile maker’s stock valued at $181,000 after purchasing an additional 3,533 shares during the last quarter. Institutional investors and hedge funds own 98.89% of the company’s stock.
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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