Deckers Outdoor Corp. (DECK) Rating Increased to Hold at Zacks Investment Research
Deckers Outdoor Corp. (NYSE:DECK) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Despite reporting a positive earnings surprise for the sixth straight quarter, Deckers’ lower-than-expected second-quarter fiscal 2017 top line and the subsequent trimming of outlook took the sheen away from the stock. Net sales fell 0.2% from the year-ago period, as against management’s earlier projection of 1–3% growth for the quarter under review. The soft top-line performance stemmed from a delay in shipments. Management now expects net sales to decline in the band of 1.5–3% during fiscal 2017 and to be flat to down 2% during the third quarter. We also observed that although quarterly earnings increased and came ahead of Deckers’ estimate, management’s third quarter earnings projection disappoints to an extent. The company envisions earnings in the band of $4.16–$4.28 per share for the third quarter down from $4.78 recorded in the prior-year period.”
Several other analysts have also issued reports on DECK. Piper Jaffray Cos. set a $63.00 price target on Deckers Outdoor Corp. and gave the company a “hold” rating in a report on Thursday, October 27th. Canaccord Genuity set a $70.00 price target on Deckers Outdoor Corp. and gave the company a “buy” rating in a report on Sunday, October 30th. Jefferies Group boosted their price target on Deckers Outdoor Corp. from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday, July 29th. Susquehanna lowered Deckers Outdoor Corp. from a “neutral” rating to a “negative” rating and cut their price target for the company from $59.00 to $49.00 in a report on Thursday, October 13th. Finally, B. Riley reissued a “neutral” rating and set a $57.00 price target on shares of Deckers Outdoor Corp. in a report on Wednesday, July 27th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $58.91.
Deckers Outdoor Corp. (NYSE:DECK) opened at 60.93 on Tuesday. The stock has a market capitalization of $1.95 billion, a PE ratio of 17.52 and a beta of 0.88. The company’s 50 day moving average price is $56.76 and its 200-day moving average price is $58.68. Deckers Outdoor Corp. has a one year low of $40.74 and a one year high of $69.94.
Deckers Outdoor Corp. (NYSE:DECK) last posted its quarterly earnings data on Thursday, October 27th. The company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.04. The company earned $485.90 million during the quarter, compared to analysts’ expectations of $495.75 million. Deckers Outdoor Corp. had a return on equity of 14.80% and a net margin of 6.19%. Deckers Outdoor Corp.’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.17 earnings per share. Analysts expect that Deckers Outdoor Corp. will post $4.15 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the company. State Street Corp boosted its stake 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 worth $63,686,000 after buying an additional 48,016 shares during the last quarter. Rice Hall James & Associates LLC boosted its stake in Deckers Outdoor Corp. by 80.2% in the second quarter. Rice Hall James & Associates LLC now owns 332,519 shares of the company’s stock worth $19,126,000 after buying an additional 148,013 shares during the last quarter. Jensen Investment Management Inc. boosted its stake in Deckers Outdoor Corp. by 15.1% in the second quarter. Jensen Investment Management Inc. now owns 8,140 shares of the company’s stock worth $468,000 after buying an additional 1,070 shares during the last quarter. Mason Street Advisors LLC acquired a new stake in Deckers Outdoor Corp. during the second quarter worth $840,000. Finally, Nuveen Asset Management LLC boosted its stake in Deckers Outdoor Corp. by 309.2% in the first quarter. Nuveen Asset Management LLC now owns 65,771 shares of the company’s stock worth $3,941,000 after buying an additional 49,697 shares during the last quarter.
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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