Deckers Outdoor Corporation (NYSE:DECK) Lowered to Hold at BidaskClub

Deckers Outdoor Corporation (NYSE:DECK) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Tuesday, November 7th.

Other analysts have also recently issued research reports about the stock. Susquehanna Bancshares Inc restated a “neutral” rating and issued a $57.00 price objective (down previously from $60.00) on shares of Deckers Outdoor Corporation in a research report on Monday, July 24th. Morgan Stanley upped their target price on shares of Deckers Outdoor Corporation from $59.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, August 7th. Jefferies Group LLC set a $82.00 target price on shares of Deckers Outdoor Corporation and gave the stock a “buy” rating in a research note on Sunday, October 29th. Stifel Nicolaus set a $74.00 price objective on shares of Deckers Outdoor Corporation and gave the stock a “buy” rating in a research note on Sunday, July 30th. Finally, Canaccord Genuity set a $76.00 price objective on shares of Deckers Outdoor Corporation and gave the stock a “buy” rating in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. Deckers Outdoor Corporation currently has an average rating of “Hold” and a consensus target price of $69.43.

Deckers Outdoor Corporation (NYSE DECK) traded up $1.25 during trading hours on Tuesday, reaching $71.32. The company’s stock had a trading volume of 777,732 shares, compared to its average volume of 727,875. The firm has a market cap of $2,279.46, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 1.55 and a beta of 1.19. Deckers Outdoor Corporation has a 12-month low of $44.00 and a 12-month high of $73.45. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.26 and a current ratio of 2.43.

Deckers Outdoor Corporation (NYSE:DECK) last issued its earnings results on Thursday, October 26th. The textile maker reported $1.54 EPS for the quarter, beating the consensus estimate of $1.02 by $0.52. The company had revenue of $482.50 million during the quarter, compared to analysts’ expectations of $440.11 million. Deckers Outdoor Corporation had a net margin of 1.80% and a return on equity of 15.23%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 EPS. analysts forecast that Deckers Outdoor Corporation will post 4.27 EPS for the current fiscal year.

Deckers Outdoor Corporation announced that its Board of Directors has authorized a share repurchase plan on Thursday, October 26th that authorizes the company to repurchase $335.00 million in outstanding shares. This repurchase authorization authorizes the textile maker to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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A number of institutional investors have recently modified their holdings of the business. Sterling Capital Management LLC boosted its position in Deckers Outdoor Corporation by 4.3% in the third quarter. Sterling Capital Management LLC now owns 444,139 shares of the textile maker’s stock valued at $30,384,000 after buying an additional 18,269 shares in the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of Deckers Outdoor Corporation by 9.6% during the third quarter. Neuberger Berman Group LLC now owns 556,933 shares of the textile maker’s stock worth $38,100,000 after purchasing an additional 48,948 shares during the period. California Public Employees Retirement System lifted its holdings in shares of Deckers Outdoor Corporation by 8.4% during the third quarter. California Public Employees Retirement System now owns 86,699 shares of the textile maker’s stock worth $5,931,000 after purchasing an additional 6,699 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in shares of Deckers Outdoor Corporation by 32.2% during the third quarter. Cubist Systematic Strategies LLC now owns 12,100 shares of the textile maker’s stock worth $828,000 after purchasing an additional 2,947 shares during the period. Finally, Vident Investment Advisory LLC acquired a new position in shares of Deckers Outdoor Corporation during the third quarter worth $264,000. Hedge funds and other institutional investors own 99.57% of the company’s stock.

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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