Deckers Outdoor (NYSE: DECK – Get a rating) updated its earnings guidance for fiscal year 2023 on Thursday. share of $18.34. The company released a revenue forecast of $3.45 billion to $3.50 billion, compared to the consensus revenue estimate of $3.45 billion.
Several research companies have recently weighed in on DECK. Telsey Advisory Group cut its price target on Deckers Outdoor shares from $450.00 to $400.00 and set an outperformance rating for the company in a Friday, May 20 research report. Wedbush cut its price target on shares of Deckers Outdoor to $292.00 in a Friday, May 20 report. Cowen raised his price target on shares of Deckers Outdoor from $358.00 to $407.00 in a Friday, May 20 research note. Cowen raised his price target on Deckers Outdoor shares from $358.00 to $407.00 and gave the company an outperform rating in a Friday, May 20 research note. To finish, StockNews.com began covering Deckers Outdoor shares in a research note on Thursday, March 31. They issued a holding note for the company. Two research analysts gave the stock a hold rating and ten gave the stock a buy rating. According to data from MarketBeat.com, the stock has an average buy rating and an average target price of $419.60.
NYSE:DECK opened at $257.87 on Thursday. The stock has a market capitalization of $6.91 billion, a P/E ratio of 15.82 and a beta of 0.84. The company has a 50-day moving average price of $261.66 and a 200-day moving average price of $298.35. Deckers Outdoor has a fifty-two week low of $212.93 and a fifty-two week high of $451.49.
Deckers Outdoor (NYSE: DECK – Get a rating) last released its quarterly earnings data on Thursday, May 19. The textile maker reported earnings per share of $2.51 for the quarter, beating analysts’ consensus estimate of $1.32 from $1.19. The company posted revenue of $736.00 million in the quarter, compared to $639.81 million expected by analysts. Deckers Outdoor achieved a net margin of 14.35% and a return on equity of 30.20%. The company’s quarterly revenue increased 31.1% year over year. In the same quarter last year, the company posted EPS of $1.18. On average, stock analysts predict Deckers Outdoor will post 18.13 earnings per share for the current year.
A number of institutional investors have recently increased or reduced their stake in the company. State Street Corp increased its stake in Deckers Outdoor by 2.3% in the first quarter. State Street Corp now owns 720,033 shares of the textile maker worth $197,123,000 after buying an additional 16,529 shares last quarter. Wellington Management Group LLP increased its stake in Deckers Outdoor shares by 18.0% in Q1. Wellington Management Group LLP now owns 433,426 shares of the textile maker valued at $118,658,000 after buying an additional 66,072 shares last quarter. Morgan Stanley increased its stake in Deckers Outdoor shares by 62.8% in the second quarter. Morgan Stanley now owns 122,378 shares of the textile maker valued at $47,002,000 after buying an additional 47,223 shares last quarter. The Manufacturers Life Insurance Company increased its stake in Deckers Outdoor shares by 0.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 59,860 shares of the textile maker valued at $21,927,000 after buying 309 additional shares last quarter. Finally, the Royal Bank of Canada increased its stake in Deckers Outdoor shares by 0.8% in the 1st quarter. Royal Bank of Canada now owns 39,451 shares of the textile maker valued at $10,801,000 after buying 301 more shares last quarter. Institutional investors hold 96.81% of the company’s shares.
About Deckers Outdoor (Get a rating)
Deckers Outdoor Corporation, together with its subsidiaries, designs, markets and distributes footwear, apparel and accessories for casual lifestyle and high performance activities. The company offers premium footwear, apparel and accessories under the UGG brand; sandals, shoes and boots under the Teva brand; and casual shoes and casual sandals under the Sanuk brand.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Deckers Outdoor right now?
Before you consider Deckers Outdoor, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Deckers Outdoor wasn’t on the list.
Although Deckers Outdoor currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here