Deckers Outdoor (NYSE:DECK) Reports Results
Deckers Outdoor (NYSE:DECK) released its quarterly earnings data on Thursday. The textile maker reported earnings per share (EPS) of $8.42 for the quarter, beating the consensus estimate of $8.19 by $0.23, MarketWatch Earnings reports. Deckers Outdoor achieved a net margin of 15.33% and a return on equity of 30.04%. In the same period a year earlier, the company earned earnings per share of $8.99. Deckers Outdoor updated its guidance for FY22 to EPS $14.50-15.15.
NYSE:DECK was down $17.63 during Friday trading hours, hitting $304.52. 26,539 shares of the stock trade in hands, compared to its average volume of 347,085. The company has a 50-day moving average price of $355.37 and a 200-day moving average price of $388.30. Deckers Outdoor has a fifty-two week low of $289.23 and a fifty-two week high of $451.49. The company has a market capitalization of $8.36 billion, a price-earnings ratio of 20.73 and a beta of 0.81.
A number of equity research analysts have weighed in on DECK shares. Cowen cut its target price on Deckers Outdoor from $478.00 to $358.00 and set an “outperform” rating for the company in a research report on Friday. Zacks Investment Research upgraded Deckers Outdoor from a “sell” rating to a “hold” rating and set a target price of $388.00 for the company in a research report on Monday, January 3. BTIG Research raised its target price on Deckers Outdoor from $480.00 to $487.00 and gave the stock a “buy” rating in a research report on Friday. Seaport Res Ptn reaffirmed a “buy” rating on Deckers Outdoor shares in a Tuesday, January 18 research report. Finally, Telsey Advisory Group cut its target price on Deckers Outdoor from $475.00 to $450.00 and set an “outperform” rating for the company in a research report on Friday. Two research analysts gave the stock a hold rating and eleven gave the stock a buy rating. According to data from MarketBeat, Deckers Outdoor currently has a consensus rating of “Buy” and an average target price of $440.25.
In other Deckers Outdoor news, insider Wendy W. Yang sold 14,383 shares of the company in a trade on Monday, November 15. The shares were sold at an average price of $420.94, for a total transaction of $6,054,380.02. The sale was disclosed in a filing with the SEC, which is available via the SEC website. Also, CEO David Powers sold 2,225 shares of the company in a trade on Wednesday, December 1. The shares were sold at an average price of $410.28, for a total transaction of $912,873.00. Disclosure of this sale can be found here. In the past three months, insiders have sold 17,108 shares of the company worth $7,172,393. Insiders of the company own 0.90% of the shares of the company.
A hedge fund recently increased its stake in shares of Deckers Outdoor. Morgan Stanley increased its stake in Deckers Outdoor Co. (NYSE:DECK) by 62.8% during the second quarter, according to its latest disclosure to the Securities and Exchange Commission. The fund held 122,378 shares of the textile maker after acquiring 47,223 additional shares during the quarter. Morgan Stanley owned about 0.44% of Deckers Outdoor worth $47,002,000 when it last filed with the Securities and Exchange Commission. Hedge funds and other institutional investors own 94.65% of the company’s shares.
About Deckers Outdoor
Deckers Outdoor Corp. deals with the design, marketing and distribution of footwear, apparel and accessories developed for both casual everyday 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.
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