Zacks Investment Research downgraded shares of Deckers Outdoor (NYSE:DECK) from a strong-buy rating to a hold rating in a report published on Tuesday morning.

According to Zacks, “Sturdy sales performance across UGG, HOKA ONE ONE and Teva brands enabled Deckers to post solid first-quarter fiscal 2019 results, wherein both the top and bottom lines improved year over year and also fared better than expectations. Management’s focus on enhancing omni-channel capabilities, innovative line of products and expanding brand assortments bode well for the stock that not only surged in a year but also outpaced the industry. The company’s long-term target of $2 billion sales with operating margin of 13% by fiscal 2020 also seems achievable. Based on the performance, management raised its fiscal net sales and earnings view but provided a subdued outlook for the second quarter that not only came below expectations but was also lower from the year-ago period figures. We note that the first quarter sales gained from shipment of wholesale and distributor orders originally planned for the second quarter.”

A number of other research analysts have also recently weighed in on the stock. UBS Group upgraded shares of Deckers Outdoor to a neutral rating in a report on Thursday, August 23rd. Susquehanna Bancshares upgraded shares of Deckers Outdoor from a negative rating to a neutral rating and lifted their price objective for the company from $89.00 to $104.00 in a report on Thursday, August 23rd. Buckingham Research lifted their price objective on shares of Deckers Outdoor from $99.00 to $109.00 and gave the company a neutral rating in a report on Thursday, August 16th. Stifel Nicolaus cut shares of Deckers Outdoor from a buy rating to a hold rating and lifted their price objective for the company from $120.00 to $123.00 in a report on Friday, July 27th. They noted that the move was a valuation call. Finally, Pivotal Research set a $119.00 price objective on shares of Deckers Outdoor and gave the company a hold rating in a report on Wednesday, July 25th. Thirteen analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $113.77.

Deckers Outdoor stock opened at $106.41 on Tuesday. The company has a market capitalization of $3.30 billion, a PE ratio of 18.54, a P/E/G ratio of 1.42 and a beta of 1.07. Deckers Outdoor has a 1 year low of $63.32 and a 1 year high of $124.68. The company has a current ratio of 2.93, a quick ratio of 1.70 and a debt-to-equity ratio of 0.03.

Deckers Outdoor (NYSE:DECK) last announced its quarterly earnings data on Thursday, July 26th. The textile maker reported ($0.98) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.44. The firm had revenue of $250.60 million during the quarter, compared to analysts’ expectations of $226.31 million. Deckers Outdoor had a net margin of 6.49% and a return on equity of 20.26%. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.28) earnings per share. On average, research analysts forecast that Deckers Outdoor will post 6.45 EPS for the current year.

In other news, Director Brian Spaly purchased 1,000 shares of the stock in a transaction on Tuesday, July 31st. The stock was bought at an average price of $113.17 per share, for a total transaction of $113,170.00. Following the acquisition, the director now directly owns 1,087 shares of the company’s stock, valued at approximately $123,015.79. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of DECK. Millennium Management LLC grew its holdings in Deckers Outdoor by 854.0% during the 1st quarter. Millennium Management LLC now owns 424,756 shares of the textile maker’s stock worth $38,241,000 after acquiring an additional 380,230 shares in the last quarter. Marshall Wace LLP acquired a new position in Deckers Outdoor during the 2nd quarter worth approximately $31,126,000. Renaissance Technologies LLC grew its holdings in Deckers Outdoor by 30.9% during the 2nd quarter. Renaissance Technologies LLC now owns 575,100 shares of the textile maker’s stock worth $64,923,000 after acquiring an additional 135,900 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Deckers Outdoor by 110.7% during the 2nd quarter. Wells Fargo & Company MN now owns 177,876 shares of the textile maker’s stock worth $20,080,000 after acquiring an additional 93,439 shares in the last quarter. Finally, FMR LLC grew its holdings in Deckers Outdoor by 13.2% during the 2nd quarter. FMR LLC now owns 703,314 shares of the textile maker’s stock worth $79,397,000 after acquiring an additional 82,214 shares in the last quarter.

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. 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.

See Also: Compound Annual Growth Rate (CAGR)

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Analyst Recommendations for Deckers Outdoor (NYSE:DECK)

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