Deckers Outdoor (NYSE:DECK) Hits New 12-Month High – Here’s What Happened

Deckers Outdoor Co. (NYSE:DECK)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $208.45 and last traded at $207.90, with a volume of 293451 shares changing hands. The stock had previously closed at $202.12.

Wall Street Analyst Weigh In

A number of analysts have recently commented on DECK shares. Bank of America boosted their price objective on Deckers Outdoor from $170.00 to $182.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. KeyCorp boosted their price target on Deckers Outdoor from $190.00 to $213.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. StockNews.com cut Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 25th. Stifel Nicolaus boosted their price target on Deckers Outdoor from $147.83 to $181.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Finally, Barclays boosted their price target on Deckers Outdoor from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $158.59.

Deckers Outdoor Stock Performance

The company has a 50 day moving average price of $174.20 and a 200 day moving average price of $89.35. The firm has a market cap of $31.21 billion, a price-to-earnings ratio of 35.56, a price-to-earnings-growth ratio of 2.80 and a beta of 1.08.

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

Insiders Place Their Bets

In other news, insider Angela Ogbechie sold 1,278 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $163.24, for a total value of $208,620.72. Following the transaction, the insider now owns 29,628 shares in the company, valued at approximately $4,836,474.72. This represents a 4.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Caroti Stefano sold 15,000 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $175.73, for a total value of $2,635,950.00. Following the completion of the transaction, the chief executive officer now owns 273,540 shares in the company, valued at approximately $48,069,184.20. The trade was a 5.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,960 shares of company stock worth $12,274,668 in the last quarter. 0.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. grew its stake in Deckers Outdoor by 460.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 28 shares of the textile maker’s stock worth $27,000 after buying an additional 23 shares during the last quarter. Crewe Advisors LLC purchased a new position in Deckers Outdoor during the 2nd quarter worth approximately $34,000. Ashton Thomas Private Wealth LLC acquired a new stake in Deckers Outdoor during the 2nd quarter worth approximately $63,000. Gladius Capital Management LP acquired a new stake in Deckers Outdoor during the 2nd quarter worth approximately $67,000. Finally, Solstein Capital LLC lifted its position in Deckers Outdoor by 500.0% during the 3rd quarter. Solstein Capital LLC now owns 162 shares of the textile maker’s stock worth $26,000 after acquiring an additional 135 shares during the period. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Deckers Outdoor Company Profile

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.