Stifel Nicolaus Sticks to Their Buy Rating for Deckers Outdoor

By Ryan Adsit

Stifel Nicolaus analyst Jim Duffy reiterated a Buy rating on Deckers Outdoor (NYSE: DECK) today and set a price target of $74. The company’s shares closed yesterday at $56.57.

According to TipRanks.com, Duffy is a 3-star analyst with an average return of 2.8% and a 50.0% success rate. Duffy covers the Consumer Goods sector, focusing on stocks such as Wolverine World Wide, Columbia Sportswear, and G-III Apparel Group.

Currently, the analyst consensus on Deckers Outdoor is Moderate Buy and the average price target is $66, representing a 16.7% upside.

In a report issued on May 23, Canaccord Genuity also reiterated a Buy rating on the stock with a $69 price target.

The company has a one year high of $69.94 and a one year low of $44. Currently, Deckers Outdoor has an average volume of 626.9K.

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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. 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.