Wells Fargo & Company Increases Deckers Outdoor (NYSE:DECK) Price Target to $1,000.00

Deckers Outdoor (NYSE:DECK) had its price target boosted by Wells Fargo & Company from $775.00 to $1,000.00 in a research note released on Friday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the textile maker’s stock.

Several other research analysts also recently weighed in on DECK. Wedbush reiterated an outperform rating and issued a $1,000.00 price target on shares of Deckers Outdoor in a report on Monday, May 6th. Robert W. Baird upped their target price on Deckers Outdoor from $975.00 to $1,050.00 and gave the company an outperform rating in a research note on Friday. KeyCorp raised their price target on Deckers Outdoor from $960.00 to $1,015.00 and gave the stock an overweight rating in a research note on Friday. Telsey Advisory Group upped their price objective on shares of Deckers Outdoor from $930.00 to $985.00 and gave the company an outperform rating in a research note on Monday, May 20th. Finally, TD Cowen raised their target price on shares of Deckers Outdoor from $1,005.00 to $1,039.00 and gave the stock a buy rating in a research report on Friday. Seven investment 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 a consensus rating of Moderate Buy and a consensus target price of $999.44.

Deckers Outdoor Stock Up 14.2 %

DECK opened at $1,032.90 on Friday. The firm has a market cap of $26.51 billion, a P/E ratio of 35.26, a PEG ratio of 1.83 and a beta of 1.05. The business’s fifty day simple moving average is $873.78 and its 200 day simple moving average is $796.36. Deckers Outdoor has a 52 week low of $424.36 and a 52 week high of $1,036.98.

Deckers Outdoor (NYSE:DECK) last released its quarterly earnings results on Thursday, May 23rd. The textile maker reported $4.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $2.13. The company had revenue of $959.76 million for the quarter, compared to analysts’ expectations of $892.00 million. Deckers Outdoor had a net margin of 17.69% and a return on equity of 39.90%. The firm’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period last year, the company earned $3.46 EPS. As a group, equities analysts expect that Deckers Outdoor will post 30.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO David Powers sold 5,993 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $824.11, for a total value of $4,938,891.23. Following the completion of the sale, the chief executive officer now owns 98,218 shares in the company, valued at $80,942,435.98. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is currently owned by insiders.

Institutional Trading of Deckers Outdoor

A number of hedge funds and other institutional investors have recently made changes to their positions in DECK. Vanguard Group Inc. raised its stake in Deckers Outdoor by 18.9% during the first quarter. Vanguard Group Inc. now owns 2,923,154 shares of the textile maker’s stock valued at $2,751,448,000 after buying an additional 464,020 shares in the last quarter. Morgan Stanley raised its position in shares of Deckers Outdoor by 82.6% during the 3rd quarter. Morgan Stanley now owns 1,166,394 shares of the textile maker’s stock valued at $599,633,000 after acquiring an additional 527,546 shares in the last quarter. Invesco Ltd. lifted its stake in Deckers Outdoor by 8.9% during the third quarter. Invesco Ltd. now owns 456,957 shares of the textile maker’s stock worth $234,917,000 after purchasing an additional 37,194 shares during the last quarter. TD Asset Management Inc increased its stake in Deckers Outdoor by 191.1% during the fourth quarter. TD Asset Management Inc now owns 305,949 shares of the textile maker’s stock valued at $204,505,000 after purchasing an additional 200,850 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Deckers Outdoor during the fourth quarter worth $196,814,000. Institutional investors own 97.79% of the company’s stock.

Deckers Outdoor Company Profile

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.