Deckers Outdoor (NYSE:DECK) Sets New 52-Week High After Analyst Upgrade

Deckers Outdoor Co. (NYSE:DECK - Get Free Report) shares hit a new 52-week high during trading on Wednesday after Jefferies Financial Group raised their price target on the stock from $180.00 to $200.00. Jefferies Financial Group currently has a hold rating on the stock. Deckers Outdoor traded as high as $219.82 and last traded at $218.72, with a volume of 211600 shares traded. The stock had previously closed at $215.92.

Several other equities research analysts have also recently weighed in on DECK. Telsey Advisory Group restated an "outperform" rating and set a $240.00 target price on shares of Deckers Outdoor in a research note on Thursday, January 23rd. Robert W. Baird lifted their price target on Deckers Outdoor from $195.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. Wells Fargo & Company boosted their target price on Deckers Outdoor from $170.00 to $215.00 and gave the company an "equal weight" rating in a report on Friday, January 10th. Stifel Nicolaus upped their price objective on Deckers Outdoor from $147.83 to $181.00 and gave the stock a "hold" rating in a report on Friday, October 25th. Finally, Citigroup boosted their target price on Deckers Outdoor from $178.00 to $215.00 and gave the stock a "neutral" rating in a research report on Thursday, January 23rd. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $183.19.

Insider Activity at Deckers Outdoor

In other news, insider Anne Spangenberg sold 3,882 shares of Deckers Outdoor stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $186.43, for a total value of $723,721.26. Following the sale, the insider now directly owns 67,434 shares in the company, valued at $12,571,720.62. This trade represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Garcia sold 18,000 shares of the firm's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $175.28, for a total transaction of $3,155,040.00. Following the completion of the transaction, the insider now directly owns 63,642 shares of the company's stock, valued at $11,155,169.76. This represents a 22.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 73,758 shares of company stock worth $13,506,861 in the last ninety days. Company insiders own 0.40% of the company's stock.

Hedge Funds Weigh In On Deckers Outdoor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in shares of Deckers Outdoor by 499.2% during the third quarter. FMR LLC now owns 22,869,485 shares of the textile maker's stock worth $3,646,539,000 after buying an additional 19,053,113 shares in the last quarter. State Street Corp raised its stake in Deckers Outdoor by 513.8% in the third quarter. State Street Corp now owns 6,584,305 shares of the textile maker's stock valued at $1,049,867,000 after purchasing an additional 5,511,513 shares in the last quarter. Geode Capital Management LLC raised its stake in Deckers Outdoor by 509.1% in the third quarter. Geode Capital Management LLC now owns 4,059,919 shares of the textile maker's stock valued at $646,316,000 after purchasing an additional 3,393,420 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Deckers Outdoor by 929.0% in the third quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker's stock valued at $206,790,000 after purchasing an additional 1,170,855 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Deckers Outdoor by 529.0% in the third 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 purchasing an additional 1,074,263 shares in the last quarter. 97.79% of the stock is owned by institutional investors.

Deckers Outdoor Stock Up 1.9 %

The firm has a market cap of $33.88 billion, a price-to-earnings ratio of 39.22, a P/E/G ratio of 2.98 and a beta of 1.08. The stock has a 50 day moving average of $206.19 and a 200 day moving average of $135.05.

Deckers Outdoor (NYSE:DECK - Get Free Report) last issued its earnings results on Thursday, January 30th. The textile maker reported $3.00 EPS for the quarter, topping the consensus estimate of $2.44 by $0.56. Deckers Outdoor had a return on equity of 41.48% and a net margin of 18.95%. As a group, analysts predict that Deckers Outdoor Co. will post 5.56 EPS for the current fiscal year.

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.