Deckers Outdoor Corp. (DECK) Downgraded to “Negative” at Susquehanna
Susquehanna cut shares of Deckers Outdoor Corp. (NYSE:DECK) from a neutral rating to a negative rating in a research note published on Thursday. Susquehanna currently has $49.00 price objective on the stock, down from their previous price objective of $59.00.
DECK has been the subject of several other research reports. Zacks Investment Research raised Deckers Outdoor Corp. from a sell rating to a hold rating in a report on Monday, August 1st. Jefferies Group lifted their price objective on Deckers Outdoor Corp. from $75.00 to $80.00 and gave the stock a buy rating in a report on Friday, July 29th. Canaccord Genuity reaffirmed a buy rating and set a $72.00 target price on shares of Deckers Outdoor Corp. in a report on Sunday, September 11th. Citigroup Inc. reaffirmed a hold rating on shares of Deckers Outdoor Corp. in a report on Wednesday, June 15th. Finally, B. Riley reaffirmed a neutral rating and set a $57.00 target price on shares of Deckers Outdoor Corp. in a report on Wednesday, July 27th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $60.19.
Shares of Deckers Outdoor Corp. (NYSE:DECK) traded down 1.21% on Thursday, reaching $56.23. 211,633 shares of the company were exchanged. Deckers Outdoor Corp. has a 12-month low of $40.74 and a 12-month high of $69.94. The firm has a market capitalization of $1.80 billion, a PE ratio of 16.65 and a beta of 1.08. The stock’s 50-day moving average is $61.51 and its 200 day moving average is $59.18.
Deckers Outdoor Corp. (NYSE:DECK) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($1.80) earnings per share for the quarter, topping the consensus estimate of ($2.07) by $0.27. Deckers Outdoor Corp. had a return on equity of 14.78% and a net margin of 6.03%. The company earned $174.40 million during the quarter, compared to analyst estimates of $170.48 million. During the same quarter last year, the firm posted ($1.43) EPS. The firm’s revenue for the quarter was down 18.4% on a year-over-year basis. On average, analysts forecast that Deckers Outdoor Corp. will post $4.31 EPS for the current year.
In other Deckers Outdoor Corp. news, Director Angel R. Martinez sold 29,058 shares of the stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $67.61, for a total value of $1,964,611.38. Following the transaction, the director now owns 393,636 shares of the company’s stock, valued at $26,613,729.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John G. Perenchio sold 23,500 shares of the stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $67.16, for a total value of $1,578,260.00. Following the completion of the transaction, the director now directly owns 28,281 shares in the company, valued at approximately $1,899,351.96. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of DECK. Lazard Asset Management LLC increased its position in Deckers Outdoor Corp. by 13.8% in the first quarter. Lazard Asset Management LLC now owns 2,807,196 shares of the company’s stock valued at $168,177,000 after buying an additional 340,163 shares during the period. Vanguard Group Inc. increased its position in Deckers Outdoor Corp. by 5.0% in the second quarter. Vanguard Group Inc. now owns 2,300,889 shares of the company’s stock valued at $132,347,000 after buying an additional 110,055 shares during the period. BlackRock Fund Advisors increased its position in Deckers Outdoor Corp. by 1.5% in the second quarter. BlackRock Fund Advisors now owns 1,585,942 shares of the company’s stock valued at $91,223,000 after buying an additional 23,537 shares during the period. Dimensional Fund Advisors LP increased its position in Deckers Outdoor Corp. by 45.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,544,662 shares of the company’s stock valued at $88,849,000 after buying an additional 485,222 shares during the period. Finally, State Street Corp increased its position in Deckers Outdoor Corp. by 4.7% in the first quarter. State Street Corp now owns 1,062,989 shares of the company’s stock valued at $63,686,000 after buying an additional 48,016 shares during the period.
About Deckers Outdoor Corp.
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.
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