Deckers Outdoor (NYSE:DECK) Lowered to “Neutral” at Bank of America

Bank of America downgraded shares of Deckers Outdoor (NYSE:DECK) from a buy rating to a neutral rating in a research note released on Thursday, Marketbeat reports. Bank of America currently has $860.00 price target on the textile maker’s stock, down from their prior price target of $875.00.

Several other research analysts have also recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Deckers Outdoor from $650.00 to $730.00 and gave the company a neutral rating in a report on Wednesday, January 24th. UBS Group boosted their price objective on shares of Deckers Outdoor from $950.00 to $1,150.00 and gave the company a buy rating in a report on Friday, February 2nd. Evercore ISI assumed coverage on shares of Deckers Outdoor in a report on Thursday, February 15th. They set an outperform rating and a $960.00 price objective for the company. TD Cowen boosted their price objective on shares of Deckers Outdoor from $1,000.00 to $1,005.00 and gave the company a buy rating in a report on Thursday, April 18th. Finally, KeyCorp assumed coverage on shares of Deckers Outdoor in a research report on Wednesday, February 7th. They set an overweight rating and a $960.00 target price for the company. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $889.00.

Deckers Outdoor Stock Performance

Shares of Deckers Outdoor stock opened at $807.12 on Thursday. The stock has a market capitalization of $20.72 billion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 1.51 and a beta of 1.01. Deckers Outdoor has a 52-week low of $424.36 and a 52-week high of $956.17. The company has a 50-day simple moving average of $882.86 and a two-hundred day simple moving average of $744.28.

Deckers Outdoor (NYSE:DECK) last issued its earnings results on Thursday, February 1st. The textile maker reported $15.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.40 by $3.71. Deckers Outdoor had a net margin of 17.57% and a return on equity of 38.77%. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the previous year, the company earned $10.48 earnings per share. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, equities research analysts forecast that Deckers Outdoor will post 26.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other Deckers Outdoor news, CEO David Powers sold 5,993 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $824.11, for a total value of $4,938,891.23. Following the completion of the transaction, the chief executive officer now directly owns 98,218 shares in the company, valued at $80,942,435.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Deckers Outdoor news, CEO David Powers sold 5,993 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $824.11, for a total value of $4,938,891.23. Following the completion of the transaction, the chief executive officer now directly owns 98,218 shares in the company, valued at $80,942,435.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Steven J. Fasching sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $844.40, for a total transaction of $4,222,000.00. Following the completion of the transaction, the chief financial officer now owns 29,291 shares of the company’s stock, valued at $24,733,320.40. The disclosure for this sale can be found here. Insiders sold a total of 30,464 shares of company stock worth $26,229,683 over the last three months. 0.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Deckers Outdoor

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Strategy Asset Managers LLC bought a new position in shares of Deckers Outdoor during the first quarter worth $275,000. V Square Quantitative Management LLC boosted its position in shares of Deckers Outdoor by 71.0% during the first quarter. V Square Quantitative Management LLC now owns 583 shares of the textile maker’s stock worth $549,000 after acquiring an additional 242 shares during the last quarter. Simplicity Wealth LLC bought a new position in shares of Deckers Outdoor during the first quarter worth $201,000. Assenagon Asset Management S.A. boosted its position in shares of Deckers Outdoor by 395.6% during the first quarter. Assenagon Asset Management S.A. now owns 50,027 shares of the textile maker’s stock worth $47,088,000 after acquiring an additional 39,932 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Deckers Outdoor by 54.6% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 184 shares of the textile maker’s stock worth $173,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 97.79% of the company’s stock.

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 in the United States and internationally. The company offers premium footwear, apparel, and accessories under the UGG brand name; footwear and apparel for ultra-runners and athletes under the Hoka brand; and sandals, shoes, and boots under the Teva brand name.