Deckers Outdoor Corp (DECK) is Downgraded by Citigroup to Neutral

Deckers Outdoor Corp (DECK) was Downgraded by Citigroup to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Citigroup advised their investors in a research report released on May 27, 2016.

Many Wall Street Analysts have commented on Deckers Outdoor Corp. Shares were Reiterated by Telsey Advisory Group on May 27, 2016 to “Market Perform” and Lowered the Price Target to $ 57 from a previous price target of $60 .Deckers Outdoor Corp was Downgraded by BB&T Capital Mkts to ” Underweight” on May 13, 2016. Company shares were Reiterated by Canaccord Genuity on Mar 31, 2016 to “Buy”, Firm has raised the Price Target to $ 72 from a previous price target of $67 .

On the company’s financial health, Deckers Outdoor Corp reported $0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 26, 2016. Analyst had a consensus of $0.06. The company had revenue of $378.60 million for the quarter, compared to analysts expectations of $362.08 million. The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 EPS.

Deckers Outdoor Corp opened for trading at $48.77 and hit $49.68 on the upside on Wednesday, eventually ending the session at $48.95, with a gain of 0.12% or 0.06 points. The heightened volatility saw the trading volume jump to 11,65,578 shares. Company has a market cap of $1,587 M.

In a different news, on Sep 11, 2015, Karyn Odette Barsa (director) sold 1,500 shares at $62.78 per share price. According to the SEC, on Feb 25, 2015, David Powers (President, Omni Channel) sold 1,650 shares at $76.06 per share price. On Feb 11, 2015, Thomas George (CFO) sold 2,552 shares at $75.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Deckers Outdoor Corporation (Deckers) offers footwear apparel and accessories. The Company’s segments include operations of Deckers’ brands such as UGG Teva Sanuk and other brands; wholesale divisions; E-Commerce business and retail store business. It sells its UGG footwear and accessories through department stores independent specialty retailers and online retailers. The Company sells Teva footwear through specialty outdoor and sporting goods retailers. It sells Sanuk footwear through independent action sports retailers outdoor retailers specialty footwear retailers and national retail chains. The Company sells other brands at specialty running stores department stores outdoor specialty accounts independent specialty retailers and through online retailers. It operate its E-Commerce business through and Websites. Its retail stores segment operates UGG concept stores and UGG outlet stores.

Deckers Outdoor Corp

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