Cantor Fitzgerald Begins Coverage on Deckers Outdoor (NYSE:DECK)

Equities researchers at Cantor Fitzgerald assumed coverage on shares of Deckers Outdoor (NYSE:DECK) in a research note issued on Tuesday, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $89.00 price target on the textile maker’s stock. Cantor Fitzgerald‘s target price suggests a potential downside of 1.86% from the stock’s previous close.

A number of other equities research analysts also recently commented on the company. Sanford C. Bernstein lowered their price objective on Deckers Outdoor from $105.00 to $100.00 in a research report on Friday, October 23rd. UBS Group set a $137.00 target price on Deckers Outdoor and gave the stock a “buy” rating in a research report on Friday, October 23rd. Robert W. Baird set a $95.00 price target on Deckers Outdoor in a research note on Friday, October 23rd. Piper Sandler cut Deckers Outdoor from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $100.00 to $75.00 in a report on Friday, October 23rd. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $75.00 price objective (down from $86.00) on shares of Deckers Outdoor in a research note on Friday, October 23rd. Ten research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $103.86.

Deckers Outdoor Price Performance

Shares of NYSE DECK opened at $90.69 on Tuesday. The company has a 50-day simple moving average of $82.40 and a 200-day simple moving average of $98.85. The company has a market cap of $12.10 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 1.43 and a beta of 1.10. Deckers Outdoor has a 12 month low of $77.20 and a 12 month high of $122.29.

Deckers Outdoor (NYSE:DECK) last announced its earnings results on Thursday, October 22nd. The textile maker reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.52. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.51 billion. Deckers Outdoor had a net margin of 19.18% and a return on equity of 42.42%. Deckers Outdoor’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.82 earnings per share. On average, analysts anticipate that Deckers Outdoor will post 7.89 EPS for the current year.

Institutional Trading of Deckers Outdoor

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Deckers Outdoor in the second quarter valued at approximately $1,343,613,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Deckers Outdoor by 21.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,116,595 shares of the textile maker’s stock valued at $210,157,000 after acquiring an additional 374,923 shares during the period. Bank of New York Mellon Corp increased its holdings in Deckers Outdoor by 123.2% during the 1st quarter. Bank of New York Mellon Corp now owns 1,803,021 shares of the textile maker’s stock worth $180,464,000 after purchasing an additional 995,099 shares during the last quarter. Amundi raised its position in shares of Deckers Outdoor by 13.2% in the 1st quarter. Amundi now owns 1,611,174 shares of the textile maker’s stock valued at $161,262,000 after purchasing an additional 187,702 shares in the last quarter. Finally, Caisse de depot et placement du Quebec acquired a new position in shares of Deckers Outdoor in the 2nd quarter valued at approximately $119,656,000. Institutional investors and hedge funds own 97.79% of the company’s stock.

About Deckers Outdoor

Deckers Outdoor Corporation designs, markets and distributes footwear, apparel and accessories through a portfolio of consumer brands. Its best-known brands include UGG, HOKA and Teva, which serve customers seeking products for lifestyle, performance and outdoor use.

Founded in 1973 in California, Deckers began as a maker of sandals. The company now sells its products worldwide through wholesale partners as well as its own retail stores and e-commerce channels, serving markets across the Americas, Europe, the Middle East and Africa, and Asia-Pacific.

Deckers is headquartered in Goleta, California.