Deckers Outdoor (NYSE:DECK) Given New $1,020.00 Price Target at Bank of America

Deckers Outdoor (NYSE:DECK) had its target price lifted by Bank of America from $860.00 to $1,020.00 in a research report sent to investors on Friday morning, Benzinga reports. Bank of America currently has a neutral rating on the textile maker’s stock.

A number of other research firms have also recently weighed in on DECK. Citigroup increased their price objective on shares of Deckers Outdoor from $835.00 to $920.00 and gave the stock a neutral rating in a research report on Wednesday, May 15th. Truist Financial reissued a hold rating and issued a $864.00 price objective (down from $983.00) on shares of Deckers Outdoor in a research report on Wednesday, April 10th. KeyCorp upped their price target on Deckers Outdoor from $960.00 to $1,015.00 and gave the company an overweight rating in a report on Friday. Telsey Advisory Group upped their target price on Deckers Outdoor from $930.00 to $985.00 and gave the company an outperform rating in a research report on Monday, May 20th. Finally, Stifel Nicolaus upped their target price on shares of Deckers Outdoor from $775.00 to $825.00 and gave the company a hold rating in a report on Friday. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $999.44.

Deckers Outdoor Stock Up 14.2 %

Shares of NYSE DECK traded up $128.25 during midday trading on Friday, hitting $1,032.90. The stock had a trading volume of 949,983 shares, compared to its average volume of 301,647. The stock has a 50 day simple moving average of $873.78 and a 200-day simple moving average of $794.03. The company has a market capitalization of $26.51 billion, a PE ratio of 35.26, a P/E/G ratio of 1.61 and a beta of 1.05. Deckers Outdoor has a 1 year low of $424.36 and a 1 year high of $1,036.98.

Deckers Outdoor (NYSE:DECK) last issued its earnings results on Thursday, May 23rd. The textile maker reported $4.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $2.13. The company had revenue of $959.76 million during the quarter, compared to analysts’ expectations of $892.00 million. Deckers Outdoor had a return on equity of 39.90% and a net margin of 17.69%. The firm’s quarterly revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the business earned $3.46 EPS. As a group, analysts expect that Deckers Outdoor will post 29.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO David Powers sold 5,993 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $824.11, for a total transaction of $4,938,891.23. Following the transaction, the chief executive officer now owns 98,218 shares in the company, valued at approximately $80,942,435.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Deckers Outdoor

Hedge funds have recently modified their holdings of the business. M&T Bank Corp lifted its stake in shares of Deckers Outdoor by 11.0% in the third quarter. M&T Bank Corp now owns 990 shares of the textile maker’s stock valued at $509,000 after buying an additional 98 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in Deckers Outdoor by 65.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 10,570 shares of the textile maker’s stock valued at $5,434,000 after acquiring an additional 4,190 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of Deckers Outdoor by 0.8% in the 3rd quarter. Corient Private Wealth LLC now owns 14,568 shares of the textile maker’s stock worth $7,489,000 after acquiring an additional 113 shares during the period. NBC Securities Inc. acquired a new stake in shares of Deckers Outdoor during the 3rd quarter worth approximately $188,000. Finally, Achmea Investment Management B.V. raised its stake in shares of Deckers Outdoor by 305.8% in the third quarter. Achmea Investment Management B.V. now owns 11,501 shares of the textile maker’s stock valued at $5,912,000 after purchasing an additional 8,667 shares in the last quarter. 97.79% of the stock is owned by institutional investors.

About Deckers Outdoor

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.