Canaccord Genuity Reiterates a Buy Rating on Deckers Outdoor

In a report released today, Camilo Lyon from Canaccord Genuity reiterated a Buy rating on Deckers Outdoor (NYSE: DECK), with a price target of $72. The company’s shares opened today at $55.92.

According to TipRanks.com, Lyon is a 3-star analyst with an average return of 1.0% and a 48.2% success rate. Lyon covers the Consumer Goods sector, focusing on stocks such as Columbia Sportswear, Sequential Brands, and Foot Locker Inc.

Deckers Outdoor has an analyst consensus of Moderate Buy, with a price target consensus of $59.

The company has a one year high of $69.94 and a one year low of $40.74. Currently, Deckers Outdoor has an average volume of 511.1K.

Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2016, David Powers, a the President of Deckers Brands of DECK sold 1,750 shares for a total of $112,298.

Deckers Outdoor Corp. engages in the business of designing, marketing and distributing footwear, apparel and accessories developed for both everyday casual lifestyle use and high performance activities. The company operates through six segments: UGG, Teva, Sanuk, Other Brands Wholesale, eCommerce and Retail Store. The UGG segment sells its UGG footwear, handbags and accessories primarily through department stores. The Teva segment sells its Teva footwear primarily through outdoor and sporting goods retailers, such as REI, L.L. Bean, Dick’s Sporting Goods and The Sports Authority, as well as on-line retailers such as Zappos.com. The Other Brands Wholesale segment’s brands are sold throughout the world at department stores, outdoor specialty accounts and with online retailers that support its brand ideals of comfort, style and quality. The Sanuk segment sells its footwear through independent action sports retailers including specialty surf and skate shops, outdoor retailers such as REI and Bass Pro Shops, specialty footwear retailers and larger national retail chains including Nordstrom, Journey’s, Dillard’s, DSW, and The Buckle. The eCommerce segment enables the company to market, communicate and build relationships with the consumer. The Retail Store segment allows the company to directly reach its customers and meet the growing demand for its products. Deckers Outdoor was founded by Douglas B. Otto in 1973 and is headquartered in Goleta, CA.