Deckers Outdoor (DECK) Received its Third Buy in a Row

After Citigroup and Wedbush gave Deckers Outdoor (NYSE: DECK) a Buy rating last month, the company received another Buy, this time from Wells Fargo. Analyst Tom Nikic maintained a Buy rating on Deckers Outdoor today. The company’s shares closed last Friday at $133.09.

According to TipRanks.com, Nikic is a 1-star analyst with an average return of -8.8% and a 45.0% success rate. Nikic covers the Services sector, focusing on stocks such as Dick’s Sporting Goods, Designer Brands, and Boot Barn.

Currently, the analyst consensus on Deckers Outdoor is a Strong Buy with an average price target of $202.00, a 48.1% upside from current levels. In a report issued on March 24, Wedbush also upgraded the stock to Buy with a $145.00 price target.

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The company has a one-year high of $203.20 and a one-year low of $78.70. Currently, Deckers Outdoor has an average volume of 570.9K.

Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DECK in relation to earlier this year.

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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.