Deckers Outdoor (DECK) Sets New 52-Week High Following Analyst Upgrade

Deckers Outdoor Corp (NYSE:DECK) shares reached a new 52-week high during trading on Monday after Buckingham Research raised their price target on the stock from $109.00 to $115.00. Buckingham Research currently has a neutral rating on the stock. Deckers Outdoor traded as high as $124.79 and last traded at $124.78, with a volume of 34194 shares traded. The stock had previously closed at $115.69.

DECK has been the subject of several other research reports. ValuEngine cut Deckers Outdoor from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 6th. Canaccord Genuity set a $137.00 target price on Deckers Outdoor and gave the stock a “buy” rating in a research report on Friday, July 27th. Piper Jaffray Companies increased their target price on Deckers Outdoor from $99.00 to $125.00 and gave the stock a “hold” rating in a research report on Friday, July 27th. Jefferies Financial Group reiterated a “hold” rating and set a $116.00 target price on shares of Deckers Outdoor in a research report on Friday, July 27th. Finally, Stifel Nicolaus cut Deckers Outdoor from a “buy” rating to a “hold” rating and increased their target price for the stock from $120.00 to $123.00 in a research report on Friday, July 27th. They noted that the move was a valuation call. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $113.00.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB grew its holdings in Deckers Outdoor by 12.4% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 4,544 shares of the textile maker’s stock valued at $513,000 after buying an additional 500 shares in the last quarter. Cookson Peirce & Co. Inc. grew its holdings in Deckers Outdoor by 13.6% during the 2nd quarter. Cookson Peirce & Co. Inc. now owns 4,250 shares of the textile maker’s stock valued at $480,000 after buying an additional 510 shares in the last quarter. Suntrust Banks Inc. grew its holdings in Deckers Outdoor by 21.7% during the 1st quarter. Suntrust Banks Inc. now owns 3,202 shares of the textile maker’s stock valued at $287,000 after buying an additional 572 shares in the last quarter. Point72 Hong Kong Ltd grew its holdings in Deckers Outdoor by 30.0% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,641 shares of the textile maker’s stock valued at $298,000 after buying an additional 610 shares in the last quarter. Finally, Atria Investments LLC grew its holdings in Deckers Outdoor by 24.4% during the 2nd quarter. Atria Investments LLC now owns 3,138 shares of the textile maker’s stock valued at $354,000 after buying an additional 616 shares in the last quarter.

The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 22.47, a P/E/G ratio of 1.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.41 and a quick ratio of 1.26.

Deckers Outdoor (NYSE:DECK) last released its quarterly earnings results on Thursday, October 25th. The textile maker reported $2.38 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.66. The business had revenue of $501.91 million during the quarter, compared to analysts’ expectations of $496.22 million. Deckers Outdoor had a return on equity of 23.27% and a net margin of 7.69%. During the same quarter last year, the business posted $1.54 EPS. Analysts forecast that Deckers Outdoor Corp will post 6.78 earnings per share for the current year.

About Deckers Outdoor (NYSE:DECK)

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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