Zacks Research Upgrades Deckers Outdoor (NYSE:DECK) to Strong-Buy

Deckers Outdoor (NYSE:DECK) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities analysts also recently weighed in on the stock. Needham & Company LLC increased their price target on shares of Deckers Outdoor from $115.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, January 30th. KGI Securities raised shares of Deckers Outdoor from a “hold” rating to an “outperform” rating and set a $129.00 price objective on the stock in a report on Friday, January 30th. Jefferies Financial Group raised their target price on shares of Deckers Outdoor from $102.00 to $105.00 and gave the stock a “hold” rating in a report on Tuesday, January 27th. Telsey Advisory Group restated a “market perform” rating and set a $120.00 target price (up from $105.00) on shares of Deckers Outdoor in a research report on Monday, January 26th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Deckers Outdoor in a report on Friday, October 24th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Deckers Outdoor has a consensus rating of “Hold” and an average price target of $125.20.

Deckers Outdoor Price Performance

Deckers Outdoor stock traded up $0.24 during mid-day trading on Monday, reaching $113.58. 779,378 shares of the company traded hands, compared to its average volume of 3,248,403. The firm’s fifty day moving average is $101.40 and its two-hundred day moving average is $101.75. The company has a market capitalization of $16.55 billion, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 2.65 and a beta of 1.16. Deckers Outdoor has a fifty-two week low of $78.91 and a fifty-two week high of $177.64.

Deckers Outdoor (NYSE:DECK) last announced its quarterly earnings data on Thursday, January 29th. The textile maker reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.56. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.87 billion. Deckers Outdoor had a net margin of 19.46% and a return on equity of 41.60%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.00 earnings per share. As a group, equities research analysts predict that Deckers Outdoor will post 5.89 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in DECK. Revolve Wealth Partners LLC acquired a new position in Deckers Outdoor during the fourth quarter worth $247,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Deckers Outdoor by 3.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,614 shares of the textile maker’s stock worth $1,858,000 after purchasing an additional 522 shares in the last quarter. Empowered Funds LLC raised its position in shares of Deckers Outdoor by 165.6% during the 1st quarter. Empowered Funds LLC now owns 10,239 shares of the textile maker’s stock worth $1,145,000 after purchasing an additional 6,384 shares during the last quarter. Focus Partners Wealth lifted its stake in Deckers Outdoor by 8.1% in the 1st quarter. Focus Partners Wealth now owns 6,914 shares of the textile maker’s stock valued at $773,000 after buying an additional 521 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Deckers Outdoor by 5.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,789 shares of the textile maker’s stock worth $2,143,000 after buying an additional 984 shares during the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

About Deckers Outdoor

Deckers Outdoor Corporation is a global designer, marketer and distributor of footwear, apparel and accessories. The company’s product portfolio includes well‐known brands such as UGG, HOKA, Teva, Sanuk and Koolaburra by UGG, spanning a range of lifestyle, performance and outdoor categories. Deckers leverages a blend of proprietary manufacturing, strategic brand storytelling and direct‐to‐consumer retail to serve both fashion‐focused and performance‐oriented customers.

Founded in 1973 by Doug Otto and Karl F.