Deckers Outdoor (NYSE:DECK) Price Target Raised to $505.00 at Wedbush

Posted by Defense World Staff on May 27th, 2023

Deckers Outdoor (NYSE:DECK – Get Rating) had its price target increased by Wedbush from $485.00 to $505.00 in a report published on Friday, The Fly reports. Wedbush also issued estimates for Deckers Outdoor’s Q4 2023 earnings at $2.81 EPS, FY2023 earnings at $18.72 EPS, Q1 2024 earnings at $2.12 EPS, Q2 2024 earnings at $4.61 EPS, Q3 2024 earnings at $11.99 EPS, Q4 2024 earnings at $3.16 EPS, FY2024 earnings at $21.85 EPS and FY2025 earnings at $25.87 EPS.

Several other research analysts also recently commented on the stock. Robert W. Baird raised their price objective on shares of Deckers Outdoor from $500.00 to $575.00 in a report on Friday. UBS Group lifted their target price on shares of Deckers Outdoor from $560.00 to $610.00 in a research report on Friday. Telsey Advisory Group reiterated an outperform rating and issued a $485.00 target price on shares of Deckers Outdoor in a research report on Wednesday, February 15th. Stifel Nicolaus boosted their price objective on shares of Deckers Outdoor from $485.00 to $550.00 and gave the company a buy rating in a research report on Monday, April 17th. Finally, StockNews.com initiated coverage on shares of Deckers Outdoor in a research report on Thursday, May 18th. They issued a hold rating on the stock. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Deckers Outdoor has an average rating of Moderate Buy and an average target price of $497.69.

Deckers Outdoor Stock Up 3.4 %

Shares of DECK stock opened at $465.18 on Friday. The company has a 50 day moving average of $465.59 and a 200-day moving average of $421.30. Deckers Outdoor has a 12-month low of $238.43 and a 12-month high of $503.48. The firm has a market cap of $12.26 billion, a P/E ratio of 25.21, a PEG ratio of 1.15 and a beta of 0.92.

Deckers Outdoor (NYSE:DECK – Get Rating) last released its quarterly earnings data on Thursday, May 25th. The textile maker reported $3.46 EPS for the quarter, topping the consensus estimate of $2.61 by $0.85. The company had revenue of $791.57 million during the quarter, compared to the consensus estimate of $723.47 million. Deckers Outdoor had a net margin of 13.83% and a return on equity of 31.38%. Deckers Outdoor’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the firm earned $2.51 EPS. As a group, equities analysts expect that Deckers Outdoor will post 18.53 EPS for the current year.

Institutional Investors Weigh In On Deckers Outdoor

Several hedge funds have recently bought and sold shares of the business. CIBC Asset Management Inc boosted its stake in Deckers Outdoor by 3.6% during the first quarter. CIBC Asset Management Inc now owns 728 shares of the textile maker’s stock worth $327,000 after acquiring an additional 25 shares in the last quarter. Alliance Wealth Advisors LLC UT boosted its stake in Deckers Outdoor by 2.8% during the first quarter. Alliance Wealth Advisors LLC UT now owns 978 shares of the textile maker’s stock worth $440,000 after acquiring an additional 27 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Deckers Outdoor by 0.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 7,099 shares of the textile maker’s stock worth $2,834,000 after acquiring an additional 28 shares in the last quarter. Parallel Advisors LLC boosted its stake in Deckers Outdoor by 28.3% during the fourth quarter. Parallel Advisors LLC now owns 136 shares of the textile maker’s stock worth $54,000 after acquiring an additional 30 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in Deckers Outdoor by 1.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 1,807 shares of the textile maker’s stock worth $812,000 after acquiring an additional 33 shares in the last quarter. Institutional investors own 98.87% of the company’s stock.

About Deckers Outdoor

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Deckers Outdoor Corp. engages in the business of designing, marketing, and distributing footwear, apparel, and accessories developed for both everyday casual lifestyle use and high performance activities. It operates through the following segments: UGG Brand, HOKA Brand, Teva Brand, Sanuk Brand, Other Brands, and Direct-to-Consumer.