Deckers Outdoor (NYSE:DECK) Shares Gap Down Following Analyst Downgrade

Deckers Outdoor (NYSE:DECK) shares gapped down after Truist Financial downgraded its price target from $235 to $225. The stock opened at $196.10, down from a previous close of $223.11, and last traded at $188.97. Other analysts have mixed ratings, with Citigroup raising its target to $215 and KeyCorp to $230. Insider selling has also been noted, with significant shares sold recently. Hedge funds hold 97.79% of the stock, which has a market cap of $28.25 billion and a P/E ratio of 32.71.

Deckers Outdoor Co. (NYSE:DECK - Get Free Report)'s stock price gapped down prior to trading on Friday after Truist Financial lowered their price target on the stock from $235.00 to $225.00. The stock had previously closed at $223.11, but opened at $196.10. Truist Financial currently has a buy rating on the stock. Deckers Outdoor shares last traded at $188.97, with a volume of 2,316,301 shares.

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Market Overreaction: 2 Stocks to Buy on the Way Down

A number of other research firms have also commented on DECK. Citigroup raised their price target on Deckers Outdoor from $178.00 to $215.00 and gave the stock a "neutral" rating in a report on Thursday, January 23rd. KeyCorp lifted their price objective on Deckers Outdoor from $213.00 to $230.00 and gave the company an "overweight" rating in a research note on Thursday, January 23rd. Seaport Res Ptn lowered Deckers Outdoor from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 7th. Bank of America lifted their price target on Deckers Outdoor from $182.00 to $217.00 and gave the stock a "neutral" rating in a research note on Thursday, January 23rd. Finally, Evercore ISI lifted their price objective on Deckers Outdoor from $195.00 to $235.00 and gave the stock an "outperform" rating in a report on Thursday, January 9th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $194.35.

Read Our Latest Stock Analysis on DECK

Insider Activity

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In related news, Director Maha Saleh Ibrahim sold 300 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $200.80, for a total transaction of $60,240.00. Following the completion of the transaction, the director now owns 10,222 shares of the company's stock, valued at approximately $2,052,577.60. This trade represents a 2.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Thomas Garcia sold 18,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $175.28, for a total transaction of $3,155,040.00. Following the transaction, the insider now directly owns 63,642 shares of the company's stock, valued at $11,155,169.76. The trade was a 22.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,758 shares of company stock valued at $13,506,861 in the last 90 days. Company insiders own 0.40% of the company's stock.

Hedge Funds Weigh In On Deckers Outdoor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DECK. Pittenger & Anderson Inc. raised its holdings in shares of Deckers Outdoor by 32.5% in the 4th quarter. Pittenger & Anderson Inc. now owns 12,217 shares of the textile maker's stock valued at $2,481,000 after purchasing an additional 2,995 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Deckers Outdoor by 25.7% in the 4th quarter. Principal Financial Group Inc. now owns 499,568 shares of the textile maker's stock valued at $101,457,000 after purchasing an additional 102,134 shares in the last quarter. Monument Capital Management raised its holdings in shares of Deckers Outdoor by 0.6% in the 4th quarter. Monument Capital Management now owns 19,106 shares of the textile maker's stock valued at $3,880,000 after purchasing an additional 105 shares in the last quarter. Csenge Advisory Group raised its holdings in shares of Deckers Outdoor by 51.4% in the 4th quarter. Csenge Advisory Group now owns 3,468 shares of the textile maker's stock valued at $704,000 after purchasing an additional 1,178 shares in the last quarter. Finally, WD Rutherford LLC raised its holdings in shares of Deckers Outdoor by 4.8% in the 4th quarter. WD Rutherford LLC now owns 1,735 shares of the textile maker's stock valued at $352,000 after purchasing an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company's stock.

Deckers Outdoor Trading Down 16.7 %

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The stock's fifty day moving average price is $206.19 and its two-hundred day moving average price is $135.05. The firm has a market capitalization of $28.25 billion, a price-to-earnings ratio of 32.71, a price-to-earnings-growth ratio of 2.41 and a beta of 1.08.

Deckers Outdoor (NYSE:DECK - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The textile maker reported $3.00 EPS for the quarter, topping the consensus estimate of $2.44 by $0.56. Deckers Outdoor had a net margin of 18.95% and a return on equity of 41.48%. Analysts anticipate that Deckers Outdoor Co. will post 5.62 earnings per share for the current fiscal year.

Deckers Outdoor Company Profile

(Get Free Report)

Deckers Outdoor Corporation, together with its subsidiaries, designs, markets, and distributes footwear, apparel, and accessories for casual lifestyle use and high-performance activities in the United States and internationally. The company offers premium footwear, apparel, and accessories under the UGG brand name; footwear, apparel, and accessories for ultra-runners and athletes under the HOKA brand name; and sandals, shoes, and boots under the Teva brand name.

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