Deckers Outdoor Co. (NYSE:DECK – Get Rating) – Telsey Advisory Group analysts cut their second quarter 2023 earnings per share estimates for Deckers Outdoor in a report released Friday, July 29. Telsey Advisory Group analyst D. Telsey now expects the textile maker to post earnings per share of $3.77 for the quarter, down from its previous estimate of $3.87. . Telsey Advisory Group has an “outperform” rating and a price target of $400.00 on the stock. The consensus estimate for Deckers Outdoor’s current annual earnings is $18.00 per share. Telsey Advisory Group also released estimates for Deckers Outdoor Q2 2024 earnings at $4.55 EPS, Q3 2024 earnings at $10.87 EPS, Q4 2024 earnings at $3.69 EPS and earnings for fiscal year 2024 at $21.45 EPS.

Deckers Outdoor (NYSE:DECK – Get Rating) last released quarterly earnings data on Thursday, May 19. The textile maker reported earnings per share of $2.51 for the quarter, beating consensus analyst estimates of $1.35 from $1.16. Deckers Outdoor had a return on equity of 30.20% and a net margin of 14.35%. The company posted revenue of $736.00 million for the quarter, compared to $639.81 million expected by analysts. During the same period of the previous year, the company achieved EPS of $1.18. The company’s quarterly revenue increased 31.1% year over year.

DECK has been the subject of several other research reports. Cowen raised its target price on Deckers Outdoor from $407.00 to $415.00 in a research note on Friday. Cowen raised its target price on Deckers Outdoor from $407.00 to $415.00 in a research note on Friday. TheStreet downgraded Deckers Outdoor from a “b-” rating to a “c” rating in a Thursday, June 2 research note. Wells Fargo & Company launched coverage on Deckers Outdoor in a research note on Monday, June 27. They set an “equal weight” rating and a target price of $280.00 on the stock. Finally, Wedbush raised its target price on Deckers Outdoor from $292.00 to $312.00 and gave the company a “neutral” rating in a Thursday, July 21 research note. Three research analysts gave the stock a hold rating and nine gave the stock a buy rating. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $396.64.

Deckers Outdoor Stock up 9.0%

DECK stock opened at $313.21 on Monday. Deckers Outdoor has a 12-month low of $212.93 and a 12-month high of $451.49. The stock has a market capitalization of $8.31 billion, a P/E ratio of 19.22 and a beta of 0.84. The company’s 50-day moving average price is $267.44 and its 200-day moving average price is $275.24.

Deckers Outdoor announced that its board of directors authorized a stock repurchase program on Thursday, July 28 that sees the company repurchase $1.20 billion in stock. This repurchase authorization allows the textile manufacturer to purchase up to 14.4% of its stock through open market purchases. Stock buyback programs usually indicate that the management of the company believes that its shares are undervalued.

Hedge funds weigh on Deckers Outdoor

Several large investors have recently changed their DECK holdings. Kestra Advisory Services LLC increased its position in Deckers Outdoor shares by 13.1% during the 4th quarter. Kestra Advisory Services LLC now owns 684 shares of the textile maker valued at $251,000 after buying 79 additional shares in the last quarter. National Bank of Canada FI bought a new stock position in Deckers Outdoor during the 4th quarter worth approximately $288,000. Van ECK Associates Corp increased its position in Deckers Outdoor shares by 21.1% during the fourth quarter. Van ECK Associates Corp now owns 661 shares of the textile maker valued at $242,000 after buying an additional 115 shares in the last quarter. Altium Wealth Management LLC increased its stake in Deckers Outdoor by 7.2% during the fourth quarter. Altium Wealth Management LLC now owns 814 shares of the textile maker valued at $298,000 after acquiring 55 additional shares during the period. Finally, Commonwealth Equity Services LLC increased its position in Deckers Outdoor by 2.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 3,792 shares of the textile maker valued at $1,389,000 after acquiring 75 additional shares in the last quarter. Institutional investors hold 96.81% of the company’s shares.

Deckers Outdoor Company Profile

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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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