After Citigroup and Wells Fargo gave Deckers Outdoor (NYSE: DECK) a Buy rating last month, the company received another Buy, this time from Pivotal Research. Analyst Mitch Kummetz reiterated a Buy rating on Deckers Outdoor today and set a price target of $165.00. The company’s shares closed last Thursday at $139.52.
According to TipRanks.com, Kummetz is a 2-star analyst with an average return of -0.6% and a 51.1% success rate. Kummetz covers the Consumer Goods sector, focusing on stocks such as Wolverine World Wide, Columbia Sportswear, and Shoe Carnival.
Deckers Outdoor has an analyst consensus of Strong Buy, with a price target consensus of $174.33, implying a 31.9% upside from current levels. In a report released yesterday, Wells Fargo also reiterated a Buy rating on the stock.
Based on Deckers Outdoor’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $939 million and net profit of $202 million. In comparison, last year the company earned revenue of $874 million and had a net profit of $196 million.
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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. It operates through the following segments: UGG Brand, HOKA Brand, Teva Brand, Sanuk Brand, Other Brands, and Direct-to-Consumer. The UGG Brand segment offers a line of premium footwear, apparel, and accessories. The HOKA Brand segment sells footwear and apparel that offers enhanced cushioning and inherent stability with minimal weight, originally designed for ultra-runners. The Teva Brand segment focuses on the sport sandal and modern outdoor lifestyle category, such as sandals, shoes, and boots. The Sanuk Brand segment originated in Southern California surf culture and has emerged into a lifestyle brand with a presence in the relaxed casual shoe and sandal categories. The Other Brands segment includes the Koolaburra by UGG brand. The Direct-to-Consumer segment comprises of retail stores and e-commerce websites. The company was founded by Douglas B. Otto in 1973 and is headquartered in Goleta, CA.