Wells Fargo & Company Begins Coverage on Deckers Outdoor (NYSE:DECK)

Wells Fargo & Company assumed coverage on shares of Deckers Outdoor (NYSE:DECK – Get Rating) in a research note issued to investors on Monday morning, The Fly reports. The brokerage issued an equal weight rating and a $280.00 price objective on the textile maker’s stock.

Several other equities analysts also recently weighed in on DECK. Cowen lifted their target price on Deckers Outdoor from $358.00 to $407.00 and gave the company an outperform rating in a research report on Friday, May 20th. Telsey Advisory Group lowered their target price on Deckers Outdoor from $450.00 to $400.00 and set an outperform rating on the stock in a research report on Friday, May 20th. StockNews.com began coverage on Deckers Outdoor in a research report on Thursday, March 31st. They set a hold rating on the stock. Wedbush lowered their price objective on Deckers Outdoor to $292.00 in a research report on Friday, May 20th. Finally, Cowen boosted their price objective on Deckers Outdoor from $358.00 to $407.00 in a research report on Friday, May 20th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $406.91.

Deckers Outdoor stock opened at $255.35 on Monday. The firm has a market cap of $6.84 billion, a price-to-earnings ratio of 15.73 and a beta of 0.84. The stock has a fifty day simple moving average of $258.84 and a two-hundred day simple moving average of $288.55. Deckers Outdoor has a 12 month low of $212.93 and a 12 month high of $451.49.

Deckers Outdoor (NYSE:DECK – Get Rating) last issued its quarterly earnings data on Thursday, May 19th. The textile maker reported $2.51 EPS for the quarter, topping the consensus estimate of $1.35 by $1.16. Deckers Outdoor had a return on equity of 30.20% and a net margin of 14.35%. The company had revenue of $736.00 million during the quarter, compared to analyst estimates of $639.81 million. During the same quarter in the previous year, the company posted $1.18 earnings per share. Deckers Outdoor’s revenue was up 31.1% compared to the same quarter last year. On average, research analysts expect that Deckers Outdoor will post 18.13 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Endurance Wealth Management Inc. purchased a new stake in shares of Deckers Outdoor in the first quarter valued at approximately $27,000. West Oak Capital LLC boosted its holdings in shares of Deckers Outdoor by 60.0% in the fourth quarter. West Oak Capital LLC now owns 80 shares of the textile maker’s stock valued at $29,000 after purchasing an additional 30 shares during the period. UMB Bank N A MO purchased a new stake in shares of Deckers Outdoor in the fourth quarter valued at approximately $36,000. Dark Forest Capital Management LP purchased a new stake in shares of Deckers Outdoor in the third quarter valued at approximately $41,000. Finally, Allworth Financial LP boosted its holdings in shares of Deckers Outdoor by 15,500.0% in the first quarter. Allworth Financial LP now owns 156 shares of the textile maker’s stock valued at $43,000 after purchasing an additional 155 shares during the period. 96.81% of the stock is currently owned by hedge funds and other institutional investors.

About Deckers Outdoor (Get Rating)

Deckers Outdoor Corporation, together with its subsidiaries, designs, markets, and distributes footwear, apparel, and accessories for casual lifestyle use and high-performance activities. The company offers premium footwear, apparel, and accessories under the UGG brand name; sandals, shoes, and boots under the Teva brand name; and relaxed casual shoes and sandals under the Sanuk brand name.

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