Deckers Outdoor (NYSE:DECK) Lifted to Buy at Pivotal Research

Pivotal Research upgraded shares of Deckers Outdoor (NYSE:DECK) from a hold rating to a buy rating in a report released on Monday, BenzingaRatingsTable reports. Pivotal Research currently has $167.00 target price on the textile maker’s stock, down from their prior target price of $175.00.

Several other brokerages also recently weighed in on DECK. Canaccord Genuity lifted their price objective on shares of Deckers Outdoor from $164.00 to $188.00 and gave the company a buy rating in a research report on Friday, May 24th. Telsey Advisory Group reissued an outperform rating and set a $192.00 target price (up previously from $189.00) on shares of Deckers Outdoor in a research note on Friday, July 26th. Bank of America reissued a buy rating and set a $200.00 target price (up previously from $180.00) on shares of Deckers Outdoor in a research note on Friday, July 26th. Wedbush raised their target price on shares of Deckers Outdoor from $138.00 to $148.00 and gave the company a neutral rating in a research note on Wednesday, July 17th. They noted that the move was a valuation call. Finally, Macquarie set a $155.00 target price on shares of Deckers Outdoor and gave the company a hold rating in a research note on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. Deckers Outdoor presently has a consensus rating of Hold and a consensus target price of $163.36.

Shares of NYSE:DECK opened at $140.24 on Monday. The company has a market cap of $3.88 billion, a PE ratio of 15.86, a P/E/G ratio of 1.28 and a beta of 0.82. The company’s 50-day moving average price is $159.99 and its 200 day moving average price is $153.83. Deckers Outdoor has a fifty-two week low of $101.69 and a fifty-two week high of $180.76. The company has a quick ratio of 1.62, a current ratio of 2.69 and a debt-to-equity ratio of 0.24.

Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings data on Thursday, July 25th. The textile maker reported ($0.67) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.15) by $0.48. The firm had revenue of $276.80 million for the quarter, compared to the consensus estimate of $259.71 million. Deckers Outdoor had a net margin of 13.45% and a return on equity of 27.74%. Deckers Outdoor’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.98) EPS. As a group, equities analysts anticipate that Deckers Outdoor will post 8.65 EPS for the current year.

In other news, insider Andrea O’donnell sold 2,100 shares of Deckers Outdoor stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $153.13, for a total value of $321,573.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO David E. Lafitte sold 1,350 shares of Deckers Outdoor stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $151.27, for a total transaction of $204,214.50. Following the completion of the transaction, the chief operating officer now directly owns 23,113 shares in the company, valued at approximately $3,496,303.51. The disclosure for this sale can be found here. Insiders sold a total of 5,263 shares of company stock worth $807,763 in the last ninety days. Corporate insiders own 0.90% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in DECK. Retirement Systems of Alabama lifted its position in Deckers Outdoor by 0.4% in the 1st quarter. Retirement Systems of Alabama now owns 37,922 shares of the textile maker’s stock valued at $5,574,000 after purchasing an additional 153 shares during the last quarter. Meeder Asset Management Inc. lifted its position in Deckers Outdoor by 20.2% in the 1st quarter. Meeder Asset Management Inc. now owns 2,801 shares of the textile maker’s stock valued at $412,000 after purchasing an additional 471 shares during the last quarter. Wedbush Securities Inc. lifted its position in Deckers Outdoor by 7.7% in the 1st quarter. Wedbush Securities Inc. now owns 1,783 shares of the textile maker’s stock valued at $262,000 after purchasing an additional 127 shares during the last quarter. Oakbrook Investments LLC bought a new stake in Deckers Outdoor in the 1st quarter valued at about $265,000. Finally, Eqis Capital Management Inc. lifted its position in Deckers Outdoor by 19.9% in the 1st quarter. Eqis Capital Management Inc. now owns 3,096 shares of the textile maker’s stock valued at $455,000 after purchasing an additional 514 shares during 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.

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Analyst Recommendations for Deckers Outdoor (NYSE:DECK)

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