BidaskClub Lowers Deckers Outdoor Corporation (DECK) to Hold

BidaskClub downgraded shares of Deckers Outdoor Corporation (NYSE:DECK) from a buy rating to a hold rating in a report issued on Tuesday morning.

A number of other equities research analysts have also weighed in on DECK. Susquehanna Bancshares Inc restated a neutral rating and set a $57.00 price target (down previously from $60.00) on shares of Deckers Outdoor Corporation in a research note on Monday, July 24th. Piper Jaffray Companies set a $66.00 target price on Deckers Outdoor Corporation and gave the stock a hold rating in a report on Thursday, July 27th. Telsey Advisory Group lifted their target price on Deckers Outdoor Corporation from $68.00 to $72.00 and gave the stock an outperform rating in a report on Friday, July 28th. Canaccord Genuity set a $76.00 target price on Deckers Outdoor Corporation and gave the stock a buy rating in a report on Thursday, July 27th. Finally, Stifel Nicolaus set a $74.00 target price on Deckers Outdoor Corporation and gave the stock a buy rating in a report on Sunday, July 30th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. Deckers Outdoor Corporation has a consensus rating of Hold and a consensus price target of $69.43.

Shares of Deckers Outdoor Corporation (NYSE DECK) traded up $1.38 during mid-day trading on Tuesday, hitting $67.88. The stock had a trading volume of 23,980 shares, compared to its average volume of 749,953. Deckers Outdoor Corporation has a 1-year low of $44.00 and a 1-year high of $73.45. The stock has a market capitalization of $2,111.21, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 1.43 and a beta of 1.19. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.43 and a quick ratio of 1.26.

Deckers Outdoor Corporation (NYSE:DECK) last issued its quarterly earnings results on Thursday, October 26th. The textile maker reported $1.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.52. Deckers Outdoor Corporation had a return on equity of 15.23% and a net margin of 1.80%. The business had revenue of $482.50 million for the quarter, compared to analyst estimates of $440.11 million. During the same quarter in the previous year, the firm earned $1.21 earnings per share. The company’s revenue was down .7% on a year-over-year basis. equities analysts expect that Deckers Outdoor Corporation will post 4.3 earnings per share for the current year.

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Deckers Outdoor Corporation declared that its Board of Directors has authorized a stock buyback program on Thursday, October 26th that allows the company to buyback $335.00 million in shares. This buyback authorization allows the textile maker to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Several hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN raised its stake in shares of Deckers Outdoor Corporation by 1.8% during the 3rd quarter. Wells Fargo & Company MN now owns 69,407 shares of the textile maker’s stock worth $4,748,000 after buying an additional 1,237 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Deckers Outdoor Corporation by 264.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 265,436 shares of the textile maker’s stock worth $17,823,000 after buying an additional 192,617 shares during the period. Legal & General Group Plc raised its stake in shares of Deckers Outdoor Corporation by 2.6% during the 3rd quarter. Legal & General Group Plc now owns 43,841 shares of the textile maker’s stock worth $2,995,000 after buying an additional 1,123 shares during the period. Eagle Asset Management Inc. acquired a new position in shares of Deckers Outdoor Corporation during the 3rd quarter worth approximately $8,548,000. Finally, Great West Life Assurance Co. Can raised its stake in shares of Deckers Outdoor Corporation by 5.3% during the 3rd quarter. Great West Life Assurance Co. Can now owns 19,882 shares of the textile maker’s stock worth $1,334,000 after buying an additional 1,008 shares during the period. 98.89% of the stock is owned by institutional investors and hedge funds.

About Deckers Outdoor Corporation

Deckers Outdoor Corporation is engaged in designing, marketing and distributing footwear, apparel and accessories for both everyday casual lifestyle use and high performance activities. The Company’s segments include operations of its brands, such as UGG, Teva, Sanuk and other brands; wholesale divisions, and Direct-to-Consumer (DTC) business, which includes E-Commerce business and retail store business.

Analyst Recommendations for Deckers Outdoor Corporation (NYSE:DECK)

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