Morgan Stanley Raises Deckers Outdoor Corporation (DECK) Price Target to $70.00
Deckers Outdoor Corporation (NYSE:DECK) had its target price hoisted by Morgan Stanley from $64.50 to $70.00 in a report issued on Tuesday morning. Morgan Stanley currently has an equal weight rating on the textile maker’s stock.
DECK has been the subject of several other reports. BidaskClub raised Deckers Outdoor Corporation from a hold rating to a buy rating in a research note on Saturday, October 28th. Jefferies Group LLC set a $82.00 target price on Deckers Outdoor Corporation and gave the company a buy rating in a research note on Sunday, October 29th. Stifel Nicolaus lifted their target price on Deckers Outdoor Corporation from $74.00 to $80.00 and gave the company a buy rating in a research note on Friday, October 6th. Robert W. Baird reissued a hold rating and issued a $67.00 target price on shares of Deckers Outdoor Corporation in a research note on Friday, October 6th. Finally, Telsey Advisory Group lifted their target price on Deckers Outdoor Corporation from $72.00 to $84.00 and gave the company an outperform rating in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $69.43.
Deckers Outdoor Corporation (NYSE DECK) traded down $1.24 during mid-day trading on Tuesday, reaching $67.62. The company had a trading volume of 85,942 shares, compared to its average volume of 782,933. The company has a current ratio of 2.43, a quick ratio of 1.26 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.49 and a beta of 1.19.
Deckers Outdoor Corporation (NYSE:DECK) last released its quarterly earnings results on Thursday, October 26th. The textile maker reported $1.54 earnings per share for the quarter, beating 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 firm had revenue of $482.50 million during the quarter, compared to analysts’ expectations of $440.11 million. During the same period last year, the firm posted $1.21 EPS. The business’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 has authorized a stock buyback program on Thursday, October 26th that allows the company to buyback $335.00 million in outstanding shares. This buyback authorization allows the textile maker to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
A number of hedge funds have recently bought and sold shares of DECK. Flinton Capital Management LLC lifted its holdings in Deckers Outdoor Corporation by 74.2% during the second quarter. Flinton Capital Management LLC now owns 1,728 shares of the textile maker’s stock worth $118,000 after acquiring an additional 736 shares in the last quarter. Riverhead Capital Management LLC lifted its holdings in shares of Deckers Outdoor Corporation by 75.5% in the second quarter. Riverhead Capital Management LLC now owns 1,931 shares of the textile maker’s stock valued at $132,000 after purchasing an additional 831 shares in the last quarter. James Investment Research Inc. bought a new stake in shares of Deckers Outdoor Corporation in the second quarter valued at about $148,000. PNC Financial Services Group Inc. lifted its holdings in shares of Deckers Outdoor Corporation by 91.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,543 shares of the textile maker’s stock valued at $175,000 after purchasing an additional 1,213 shares in the last quarter. Finally, Parallax Volatility Advisers L.P. lifted its holdings in shares of Deckers Outdoor Corporation by 401.9% in the second quarter. Parallax Volatility Advisers L.P. now owns 2,654 shares of the textile maker’s stock valued at $181,000 after purchasing an additional 3,533 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.
Deckers Outdoor Corporation Company Profile
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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