Deckers Outdoor (DECK) PT Raised to $110.00
Deckers Outdoor (NYSE:DECK) had its price objective upped by Canaccord Genuity from $100.00 to $110.00 in a report issued on Tuesday morning. They currently have a buy rating on the textile maker’s stock.
Other equities research analysts also recently issued reports about the company. ValuEngine upgraded Deckers Outdoor from a hold rating to a buy rating in a research note on Friday, February 2nd. Stifel Nicolaus boosted their price target on Deckers Outdoor from $93.00 to $107.00 and gave the company a buy rating in a research note on Friday, February 2nd. Susquehanna Bancshares restated a negative rating and set a $40.00 price target (down from $57.00) on shares of Deckers Outdoor in a research note on Monday, October 16th. Morgan Stanley boosted their price target on Deckers Outdoor from $64.50 to $70.00 and gave the company an equal weight rating in a research note on Tuesday, October 31st. Finally, Wedbush restated a neutral rating and set a $72.00 price target (up from $64.00) on shares of Deckers Outdoor in a research note on Tuesday, December 19th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $87.43.
Shares of Deckers Outdoor (DECK) opened at $93.26 on Tuesday. The stock has a market capitalization of $2,980.00, a PE ratio of 38.54, a price-to-earnings-growth ratio of 1.52 and a beta of 1.32. Deckers Outdoor has a 52 week low of $49.78 and a 52 week high of $98.62. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.16 and a current ratio of 3.25.
Deckers Outdoor declared that its Board of Directors has initiated a share buyback plan on Thursday, October 26th that authorizes the company to buyback $335.00 million in shares. This buyback authorization authorizes the textile maker to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
In related news, CEO David Powers sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $95.51, for a total value of $238,775.00. Following the transaction, the chief executive officer now directly owns 92,583 shares of the company’s stock, valued at approximately $8,842,602.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Thomas George sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $94.97, for a total value of $712,275.00. Following the completion of the transaction, the chief financial officer now directly owns 41,493 shares in the company, valued at $3,940,590.21. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,168 shares of company stock valued at $1,341,189. 1.90% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of DECK. Teachers Advisors LLC lifted its holdings in Deckers Outdoor by 2.2% in the 2nd quarter. Teachers Advisors LLC now owns 57,246 shares of the textile maker’s stock worth $3,908,000 after purchasing an additional 1,259 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Deckers Outdoor by 91.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,543 shares of the textile maker’s stock worth $175,000 after purchasing an additional 1,213 shares in the last quarter. Thrivent Financial For Lutherans lifted its holdings in Deckers Outdoor by 7.3% in the 2nd quarter. Thrivent Financial For Lutherans now owns 6,460 shares of the textile maker’s stock worth $441,000 after purchasing an additional 440 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in Deckers Outdoor by 92.7% in the 2nd quarter. New York State Common Retirement Fund now owns 68,230 shares of the textile maker’s stock worth $4,657,000 after purchasing an additional 32,829 shares in the last quarter. Finally, UBS Asset Management Americas Inc. lifted its holdings in Deckers Outdoor by 3.8% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 23,309 shares of the textile maker’s stock worth $1,591,000 after purchasing an additional 844 shares in the last quarter. 99.56% of the stock is currently owned by institutional investors.
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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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