Argus Upgrades Deckers Outdoor (NYSE:DECK) to Buy

Deckers Outdoor (NYSE:DECK) was upgraded by analysts at Argus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, Marketbeat.com reports.

DECK has been the subject of several other reports. Citigroup reiterated a “buy” rating and issued a $130.00 price objective (up from $120.00) on shares of Deckers Outdoor in a report on Thursday, January 15th. Zacks Research raised shares of Deckers Outdoor from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Jefferies Financial Group lifted their price target on shares of Deckers Outdoor from $102.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, January 27th. Robert W. Baird downgraded shares of Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 7th. Finally, Sanford C. Bernstein set a $90.00 target price on shares of Deckers Outdoor in a report on Friday, January 30th. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Deckers Outdoor has an average rating of “Moderate Buy” and a consensus target price of $125.20.

Deckers Outdoor Trading Down 0.7%

Shares of NYSE:DECK opened at $118.11 on Friday. Deckers Outdoor has a 12 month low of $78.91 and a 12 month high of $151.58. The company has a 50-day moving average price of $106.28 and a 200-day moving average price of $102.43. The company has a market cap of $16.77 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 2.71 and a beta of 1.16.

Deckers Outdoor (NYSE:DECK) last released its quarterly earnings results on Thursday, January 29th. The textile maker reported $3.33 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.56. Deckers Outdoor had a return on equity of 41.60% and a net margin of 19.46%.The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the company posted $3.00 earnings per share. The firm’s revenue was up 7.1% on a year-over-year basis. As a group, research analysts forecast that Deckers Outdoor will post 5.89 EPS for the current fiscal year.

Insider Activity at Deckers Outdoor

In related news, insider Robin Spring-Green sold 347 shares of the stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $113.78, for a total value of $39,481.66. Following the completion of the sale, the insider directly owned 42,461 shares of the company’s stock, valued at approximately $4,831,212.58. This represents a 0.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anne Spangenberg sold 4,063 shares of Deckers Outdoor stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $116.02, for a total transaction of $471,389.26. Following the transaction, the insider directly owned 80,449 shares in the company, valued at $9,333,692.98. This represents a 4.81% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 9,092 shares of company stock worth $1,048,552. 0.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in shares of Deckers Outdoor by 2.7% in the second quarter. Geode Capital Management LLC now owns 4,427,639 shares of the textile maker’s stock valued at $454,662,000 after acquiring an additional 114,779 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Deckers Outdoor by 374.1% during the fourth quarter. Federated Hermes Inc. now owns 3,149,719 shares of the textile maker’s stock worth $326,531,000 after purchasing an additional 2,485,338 shares in the last quarter. Invesco Ltd. raised its stake in Deckers Outdoor by 19.4% during the 2nd quarter. Invesco Ltd. now owns 2,781,218 shares of the textile maker’s stock valued at $286,660,000 after purchasing an additional 452,081 shares during the period. AQR Capital Management LLC lifted its holdings in Deckers Outdoor by 340.5% in the 4th quarter. AQR Capital Management LLC now owns 2,633,353 shares of the textile maker’s stock worth $273,000,000 after purchasing an additional 2,035,517 shares in the last quarter. Finally, Norges Bank purchased a new stake in Deckers Outdoor in the 4th quarter worth $252,729,000. Institutional investors own 97.79% of the company’s stock.

Deckers Outdoor Company Profile

Deckers Outdoor Corporation is a global designer, marketer and distributor of footwear, apparel and accessories. The company’s product portfolio includes well‐known brands such as UGG, HOKA, Teva, Sanuk and Koolaburra by UGG, spanning a range of lifestyle, performance and outdoor categories. Deckers leverages a blend of proprietary manufacturing, strategic brand storytelling and direct‐to‐consumer retail to serve both fashion‐focused and performance‐oriented customers.

Founded in 1973 by Doug Otto and Karl F.