Needham & Company LLC Increases Deckers Outdoor (NYSE:DECK) Price Target to $246.00

Deckers Outdoor (NYSE:DECK) had its price target hoisted by stock analysts at Needham & Company LLC from $226.00 to $246.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the textile maker’s stock. Needham & Company LLC’s target price would indicate a potential upside of 18.70% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Bank of America increased their price objective on shares of Deckers Outdoor from $170.00 to $182.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Robert W. Baird increased their price target on Deckers Outdoor from $195.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. StockNews.com cut Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 25th. TD Cowen increased their target price on Deckers Outdoor from $178.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, KeyCorp boosted their price target on Deckers Outdoor from $190.00 to $213.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Deckers Outdoor currently has an average rating of “Moderate Buy” and an average target price of $159.76.

Deckers Outdoor Trading Up 1.3 %

NYSE DECK opened at $207.25 on Monday. The company has a market cap of $31.49 billion, a price-to-earnings ratio of 36.45, a PEG ratio of 2.87 and a beta of 1.08. Deckers Outdoor has a 1-year low of $108.65 and a 1-year high of $214.70. The company has a 50 day moving average of $191.11 and a 200-day moving average of $111.25.

Deckers Outdoor (NYSE:DECK) last posted its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.35. Deckers Outdoor had a return on equity of 41.48% and a net margin of 18.95%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the firm earned $1.14 earnings per share. Deckers Outdoor’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, equities research analysts forecast that Deckers Outdoor will post 5.49 earnings per share for the current year.

Insider Buying and Selling at Deckers Outdoor

In related news, insider Angela Ogbechie sold 1,278 shares of Deckers Outdoor stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $163.24, for a total transaction of $208,620.72. Following the transaction, the insider now owns 29,628 shares of the company’s stock, valued at $4,836,474.72. The trade was a 4.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Caroti Stefano sold 14,274 shares of Deckers Outdoor stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $208.34, for a total transaction of $2,973,845.16. Following the transaction, the chief executive officer now directly owns 259,266 shares in the company, valued at $54,015,478.44. This represents a 5.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,036 shares of company stock worth $13,715,482. 0.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Deckers Outdoor

Several institutional investors have recently modified their holdings of the business. National Bank of Canada FI boosted its holdings in shares of Deckers Outdoor by 27.0% in the 2nd quarter. National Bank of Canada FI now owns 9,618 shares of the textile maker’s stock worth $9,100,000 after buying an additional 2,042 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of Deckers Outdoor by 152.5% during the 2nd quarter. Private Advisor Group LLC now owns 760 shares of the textile maker’s stock worth $736,000 after purchasing an additional 459 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Deckers Outdoor by 2,234.5% in the 2nd quarter. Acadian Asset Management LLC now owns 677 shares of the textile maker’s stock worth $655,000 after purchasing an additional 648 shares during the period. Caprock Group LLC purchased a new position in Deckers Outdoor in the second quarter valued at approximately $1,012,000. Finally, Emerald Advisers LLC bought a new position in Deckers Outdoor during the second quarter valued at $437,000. 97.79% of the stock is owned by institutional investors.

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, apparel, and accessories for ultra-runners and athletes under the HOKA brand name; and sandals, shoes, and boots under the Teva brand name.