Pivotal Research Reiterates a Hold Rating on Deckers Outdoor (DECK)

Pivotal Research analyst Mitch Kummetz reiterated a Hold rating on Deckers Outdoor (NYSE: DECK) today and set a price target of $112. The company’s shares closed yesterday at $109.50.

Kummetz wrote:

“We’re expecting another sales/EPS beat as not only did DECK set a low bar for itself but retail trends were also strong for the period. In short, we believe that DECK is trending well through the first half of FY19, but 3Q is where the rubber really meets the road on the year, and we remain concerned that, if November and December prove to be warm months, as expected, DECK could give back some of the upside it picked up in this quarter a year ago.”

According to TipRanks.com, Kummetz is a 3-star analyst with an average return of 1.5% and a 54.7% success rate. Kummetz covers the Services sector, focusing on stocks such as Foot Locker Inc, Shoe Carnival, and Genesco Inc.

Deckers Outdoor has an analyst consensus of Hold, with a price target consensus of $120.29, a 9.9% upside from current levels. In a report issued on October 22, Susquehanna also maintained a Hold rating on the stock with a $104 price target.

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Deckers Outdoor’s market cap is currently $3.33B and has a P/E ratio of 28.15. The company has a Price to Book ratio of 3.69.

Based on the recent corporate insider activity of 64 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying 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. The company operates through six segments: UGG, Teva, Sanuk, Other Brands Wholesale, eCommerce and Retail Store.