Deckers Outdoor (NYSE: DECK – Get a Grade) had its price target raised by Cowen Research analysts from $407.00 to $415.00 in a report on Friday, reports The Fly. Cowen’s price target suggests a potential upside of 32.50% from the stock’s previous close.

Other stock analysts have also recently released reports on the stock. Wedbush raised its price target on shares of Deckers Outdoor from $292.00 to $312.00 and gave the stock a “neutral” rating in a Thursday, July 21 research note. Robert W. Baird lowered his price target on shares of Deckers Outdoor from $525.00 to $375.00 and set an “outperform” rating on the stock in a Friday, May 20 research note. StockNews.com began covering Deckers Outdoor shares in a research note on Thursday, March 31. They have placed a “holding” rating on the stock. Telsey Advisory Group lowered its price target on Deckers Outdoor shares from $450.00 to $400.00 and set an “outperform” rating on the stock in a Friday, May 20 research note. Finally, BTIG Research lowered its price target on Deckers Outdoor shares from $487.00 to $477.00 and set a “buy” rating on the stock in a Thursday, July 21 research note. Three investment analysts gave the stock a hold rating and nine gave the stock a buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $396.64.

Deckers Outdoor Stock Performance

Shares of Deckers Outdoor opened at $313.21 on Friday. The company has a market capitalization of $8.31 billion, a P/E ratio of 19.22 and a beta of 0.84. Deckers Outdoor has a one-year low of $212.93 and a one-year high of $451.49. The company has a fifty-day moving average of $267.44 and a two-hundred-day moving average of $275.65.

Deckers Outdoor (NYSE:DECK – Get Rating) last reported quarterly earnings data on Thursday, May 19. The textile maker reported EPS of $2.51 for the quarter, beating consensus analyst estimates of $1.35 from $1.16. The company had revenue of $736.00 million in the quarter, versus a consensus estimate of $639.81 million. Deckers Outdoor achieved a net margin of 14.35% and a return on equity of 30.20%. Deckers Outdoor’s quarterly revenue increased 31.1% year over year. In the same quarter of the previous year, the company achieved EPS of $1.18. As a group, stock analysts predict Deckers Outdoor will post 18 earnings per share for the current year.

Deckers Outdoor announced that its board of directors launched a stock repurchase program on Thursday, July 28 that allows the company to repurchase $1.20 billion in outstanding stock. This repurchase authorization allows the textile manufacturer to buy up to 14.4% of its shares through purchases on the open market. Stock buyback programs are often a sign that a company’s board of directors believes its stock is undervalued.

Institutional investors weigh in on Deckers Outdoor

Several hedge funds have recently changed their holdings in the company. National Bank of Canada FI increased its stake in the shares of Deckers Outdoor by 755.4% during the 2nd quarter. National Bank of Canada FI now owns 1,420 shares of the textile maker worth $363,000 after buying 1,254 additional shares in the last quarter. CWM LLC increased its stake in shares of Deckers Outdoor by 13.1% during the 2nd quarter. CWM LLC now owns 97,460 shares of the textile maker worth $24,886,000 after buying an additional 11,286 shares in the last quarter. Private Capital Group LLC increased its equity stake in Deckers Outdoor by 28.5% during the second quarter. Private Capital Group LLC now owns 690 shares of the textile maker worth $176,000 after acquiring 153 additional shares during the period. Park Avenue Securities LLC increased its equity stake in Deckers Outdoor by 18.5% during the 2nd quarter. Park Avenue Securities LLC now owns 1,476 shares of the textile maker worth $377,000 after acquiring 230 additional shares during the period. Finally, Mission Wealth Management LP increased its stake in Deckers Outdoor shares by 26.7% during the 2nd quarter. Mission Wealth Management LP now owns 4,483 shares of the textile maker worth $1,145,000 after acquiring 945 additional shares during the period. 96.81% of the shares are held by institutional investors and hedge funds.

About Deckers Outdoor

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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.

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