Deckers Outdoor (NYSE:DECK) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Deckers Outdoor (NYSE:DECKGet Rating) from a sell rating to a hold rating in a research note published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $308.00 price objective on the textile maker’s stock.

According to Zacks, “Shares of Deckers have slid and underperformed the industry in the past six months. The company has been experiencing higher logistics costs and supply chain challenges. The most significant headwinds for the business continued to be prolonged transit lead times and cost pressures owing to container shortages, port congestion, and trucking and labor scarcity. To offset these, Deckers has been utilizing air freight. This, in turn, has been exerting pressure on margins. Nonetheless, management is trying to mitigate the impact of ongoing supply chain issues through early procurement of inventory and implementing targeted price increases to offset inflationary pressure. Well, demand seems to be strong for HOKA ONE ONE and UGG brands. Also, the company’s direct-to-consumer business has been robust. Net sales grew 10.2% during the third quarter.”

Several other equities research analysts also recently commented on the stock. BTIG Research upped their price objective on shares of Deckers Outdoor from $480.00 to $487.00 and gave the company a buy rating in a report on Friday, February 4th. StockNews.com began coverage on Deckers Outdoor in a research report on Thursday, March 31st. They set a hold rating on the stock. Cowen decreased their price target on Deckers Outdoor from $478.00 to $358.00 and set an outperform rating on the stock in a research report on Friday, February 4th. Seaport Res Ptn reiterated a buy rating on shares of Deckers Outdoor in a research report on Tuesday, January 18th. Finally, Telsey Advisory Group decreased their price target on Deckers Outdoor from $475.00 to $450.00 and set an outperform rating on the stock in a research report on Friday, February 4th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of $440.27.

Shares of NYSE:DECK opened at $273.96 on Wednesday. The stock’s fifty day simple moving average is $275.88 and its two-hundred day simple moving average is $334.76. Deckers Outdoor has a 1-year low of $231.88 and a 1-year high of $451.49. The stock has a market cap of $7.46 billion, a PE ratio of 18.30 and a beta of 0.86.

Deckers Outdoor (NYSE:DECKGet Rating) last issued its quarterly earnings data on Thursday, February 3rd. The textile maker reported $8.42 earnings per share for the quarter, beating the consensus estimate of $8.35 by $0.07. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Deckers Outdoor had a return on equity of 28.28% and a net margin of 14.00%. During the same period last year, the business earned $8.99 EPS. Equities research analysts forecast that Deckers Outdoor will post 15.09 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income boosted its stake in shares of Deckers Outdoor by 0.4% during the third quarter. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income now owns 5,660 shares of the textile maker’s stock valued at $2,039,000 after purchasing an additional 25 shares during the period. AllSquare Wealth Management LLC boosted its stake in shares of Deckers Outdoor by 25.0% during the third quarter. AllSquare Wealth Management LLC now owns 140 shares of the textile maker’s stock valued at $50,000 after purchasing an additional 28 shares during the period. West Oak Capital LLC boosted its stake in shares of Deckers Outdoor by 60.0% during the fourth quarter. West Oak Capital LLC now owns 80 shares of the textile maker’s stock valued at $29,000 after purchasing an additional 30 shares during the period. Wealthfront Advisers LLC boosted its stake in shares of Deckers Outdoor by 4.8% during the fourth quarter. Wealthfront Advisers LLC now owns 720 shares of the textile maker’s stock valued at $263,000 after purchasing an additional 33 shares during the period. Finally, Tower View Investment Management & Research LLC boosted its stake in shares of Deckers Outdoor by 1.0% during the fourth quarter. Tower View Investment Management & Research LLC now owns 3,952 shares of the textile maker’s stock valued at $1,448,000 after purchasing an additional 41 shares during the period. 96.21% of the stock is owned by institutional investors and hedge funds.

Deckers Outdoor Company Profile (Get Rating)

Deckers Outdoor Corporation, together with its subsidiaries, designs, markets, and distributes footwear, apparel, and accessories for casual lifestyle use and high-performance activities. The company offers premium footwear, apparel, and accessories under the UGG brand name; sandals, shoes, and boots under the Teva brand name; and relaxed casual shoes and sandals under the Sanuk brand name.

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