Deckers Outdoor Corporation (DECK) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Deckers Outdoor Corporation (NYSE:DECK) have earned an average recommendation of “Hold” from the nineteen research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $71.50.
A number of equities analysts have recently issued reports on DECK shares. Piper Jaffray Companies reissued a “hold” rating and set a $66.00 price objective on shares of Deckers Outdoor in a research report on Friday, September 29th. BidaskClub raised shares of Deckers Outdoor from a “hold” rating to a “buy” rating in a research report on Tuesday, October 3rd. Pivotal Research started coverage on shares of Deckers Outdoor in a research report on Thursday, October 5th. They set a “buy” rating and a $80.00 price objective on the stock. Stifel Nicolaus increased their price objective on shares of Deckers Outdoor from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, October 6th. Finally, Robert W. Baird reissued a “hold” rating and set a $67.00 price objective on shares of Deckers Outdoor in a research report on Friday, October 6th.
Deckers Outdoor (NYSE:DECK) opened at $85.39 on Friday. The stock has a market cap of $2,669.74, a PE ratio of 18.65, a PEG ratio of 1.76 and a beta of 1.26. The company has a current ratio of 2.43, a quick ratio of 1.26 and a debt-to-equity ratio of 0.03. Deckers Outdoor has a 1 year low of $44.00 and a 1 year high of $85.74.
Deckers Outdoor announced that its board has authorized a share buyback program on Thursday, October 26th that allows the company to repurchase $335.00 million in outstanding shares. This repurchase authorization allows the textile maker to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Eagle Asset Management Inc. purchased a new stake in Deckers Outdoor in the 3rd quarter valued at about $8,548,000. American Century Companies Inc. purchased a new stake in Deckers Outdoor in the 3rd quarter valued at about $12,054,000. State Street Corp increased its stake in Deckers Outdoor by 3.6% in the 2nd quarter. State Street Corp now owns 1,039,579 shares of the textile maker’s stock valued at $70,962,000 after buying an additional 36,356 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Deckers Outdoor in the 2nd quarter valued at about $761,000. Finally, Strs Ohio increased its stake in Deckers Outdoor by 2,175.0% in the 3rd quarter. Strs Ohio now owns 18,200 shares of the textile maker’s stock valued at $1,245,000 after buying an additional 17,400 shares during the last quarter.
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About Deckers Outdoor
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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