Q3 2024 Earnings Forecast for Deckers Outdoor Co. Issued By Wedbush (NYSE:DECK)

Posted by Defense World Staff on Oct 26th, 2023

Deckers Outdoor Co. (NYSE:DECK – Free Report) – Stock analysts at Wedbush boosted their Q3 2024 EPS estimates for Deckers Outdoor in a research note issued on Tuesday, October 24th. Wedbush analyst T. Nikic now anticipates that the textile maker will post earnings per share of $11.85 for the quarter, up from their previous forecast of $11.67. The consensus estimate for Deckers Outdoor’s current full-year earnings is $22.36 per share.

Deckers Outdoor (NYSE:DECK – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The textile maker reported $2.41 EPS for the quarter, topping the consensus estimate of $2.16 by $0.25. The business had revenue of $675.79 million for the quarter, compared to analysts’ expectations of $666.95 million. Deckers Outdoor had a net margin of 14.33% and a return on equity of 30.85%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.66 EPS.

DECK has been the subject of several other research reports. StockNews.com assumed coverage on Deckers Outdoor in a report on Thursday, October 5th. They set a “hold” rating for the company. TD Cowen upped their price target on shares of Deckers Outdoor from $564.00 to $618.00 and gave the company an “outperform” rating in a research note on Tuesday, August 15th. Piper Sandler boosted their target price on shares of Deckers Outdoor from $535.00 to $595.00 and gave the stock an “overweight” rating in a report on Monday, July 24th. BTIG Research increased their price target on shares of Deckers Outdoor from $613.00 to $640.00 and gave the company a “buy” rating in a report on Friday, July 28th. Finally, UBS Group lifted their price target on Deckers Outdoor from $715.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $577.64.

View Our Latest Research Report on DECK

Deckers Outdoor Trading Down 0.7 %

Shares of DECK stock opened at $492.40 on Wednesday. The stock has a market capitalization of $12.87 billion, a price-to-earnings ratio of 24.44, a price-to-earnings-growth ratio of 1.31 and a beta of 0.92. Deckers Outdoor has a 12-month low of $326.10 and a 12-month high of $568.47. The stock’s 50-day moving average price is $518.71 and its 200-day moving average price is $510.80.

Hedge Funds Weigh In On Deckers Outdoor

A number of institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC increased its stake in shares of Deckers Outdoor by 13.7% during the first quarter. HighTower Advisors LLC now owns 3,294 shares of the textile maker’s stock valued at $902,000 after buying an additional 398 shares during the period. Great West Life Assurance Co. Can raised its position in shares of Deckers Outdoor by 7.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 15,156 shares of the textile maker’s stock worth $4,272,000 after acquiring an additional 1,001 shares in the last quarter. Vontobel Holding Ltd. purchased a new stake in shares of Deckers Outdoor during the 1st quarter worth $882,000. Sei Investments Co. grew its stake in Deckers Outdoor by 53.1% in the first quarter. Sei Investments Co. now owns 35,845 shares of the textile maker’s stock valued at $9,811,000 after purchasing an additional 12,439 shares during the last quarter. Finally, Aviva PLC grew its stake in Deckers Outdoor by 24.9% in the first quarter. Aviva PLC now owns 8,020 shares of the textile maker’s stock valued at $2,196,000 after purchasing an additional 1,597 shares during the last quarter. 95.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Thomas Garcia sold 3,595 shares of Deckers Outdoor stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $516.73, for a total transaction of $1,857,644.35. Following the completion of the sale, the insider now directly owns 16,457 shares in the company, valued at $8,503,825.61. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is owned by corporate insiders.

Deckers Outdoor Company Profile

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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 and apparel for ultra-runners and athletes under the Hoka brand; and sandals, shoes, and boots under the Teva brand name.