Deckers Outdoor (NYSE:DECK) Sets New 1-Year High - Time to Buy?

Deckers Outdoor Co. (NYSE:DECK - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $190.87 and last traded at $189.41, with a volume of 274223 shares. The stock had previously closed at $181.91.

Wall Street Analysts Forecast Growth

DECK has been the topic of several recent research reports. StockNews.com cut shares of Deckers Outdoor from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 25th. Robert W. Baird increased their price target on shares of Deckers Outdoor from $180.00 to $195.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Bank of America lifted their price target on shares of Deckers Outdoor from $170.00 to $182.00 and gave the company a "neutral" rating in a research report on Friday, October 25th. Guggenheim assumed coverage on Deckers Outdoor in a research report on Wednesday, October 9th. They issued a "neutral" rating for the company. Finally, Piper Sandler set a $166.00 target price on Deckers Outdoor in a research report on Thursday, October 17th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $153.53.

Deckers Outdoor Price Performance

The firm has a market capitalization of $29.19 billion, a price-to-earnings ratio of 33.79, a PEG ratio of 2.55 and a beta of 1.05. The firm has a 50 day moving average price of $163.85 and a 200-day moving average price of $73.97.

Deckers Outdoor (NYSE:DECK - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.24 by $0.35. Deckers Outdoor had a return on equity of 41.48% and a net margin of 18.95%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the company earned $1.14 EPS. Deckers Outdoor's revenue for the quarter was up 20.1% compared to the same quarter last year. Equities research analysts predict that Deckers Outdoor Co. will post 5.48 earnings per share for the current year.

Insider Transactions at Deckers Outdoor

In other news, insider Angela Ogbechie sold 1,278 shares of the company's stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $163.24, for a total value of $208,620.72. Following the completion of the transaction, the insider now owns 29,628 shares in the company, valued at approximately $4,836,474.72. This represents a 4.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David Powers sold 140,832 shares of Deckers Outdoor stock in a transaction on Friday, September 6th. The stock was sold at an average price of $23.97, for a total transaction of $3,376,368.96. Following the sale, the director now owns 2,450,808 shares in the company, valued at $58,756,760.24. This represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 202,110 shares of company stock valued at $14,028,140. Insiders own 0.40% of the company's stock.

Institutional Trading of Deckers Outdoor

Large investors have recently made changes to their positions in the company. FMR LLC lifted its position in Deckers Outdoor by 499.2% during the 3rd quarter. FMR LLC now owns 22,869,485 shares of the textile maker's stock worth $3,646,539,000 after acquiring an additional 19,053,113 shares during the period. State Street Corp raised its stake in shares of Deckers Outdoor by 513.8% during the third quarter. State Street Corp now owns 6,584,305 shares of the textile maker's stock worth $1,049,867,000 after purchasing an additional 5,511,513 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Deckers Outdoor by 509.1% during the third quarter. Geode Capital Management LLC now owns 4,059,919 shares of the textile maker's stock worth $646,316,000 after purchasing an additional 3,393,420 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Deckers Outdoor by 529.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,277,355 shares of the textile maker's stock valued at $203,674,000 after buying an additional 1,074,263 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in Deckers Outdoor by 904.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,011,073 shares of the textile maker's stock worth $161,216,000 after buying an additional 910,430 shares during the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

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