Canaccord Genuity Cuts Price Target on Deckers Outdoor (DECK); Things Could Get UGGly
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Price: $53.71 -2.08%
Rating Summary:
8 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
8 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade DECK Now!
Canaccord Genuity maintains a 'Hold' on Deckers Outdoor (NASDAQ: DECK) price target of $57.00 (from $73.00).
Analyst, Camilo Lyon, said, "DECK reported Q2 EPS of $(0.53) vs. our $(0.60) estimate. Relative to our model, the beat was driven by slightly better sales in UGG and less expense deleverage, which offset a weaker gross margin. Full-year guidance was held; however, all of the H2 EPS growth is expected to come in Q4 with particular emphasis on the retail segment. We believe reliance on retail growth to carry Q4 EPS bears inherent risk, given that questions around price ceilings and UGG’s brand strength remain unanswered at this time. As such, we maintain our rating until we get evidence of strong sell-through in fall/winter."
For an analyst ratings summary and ratings history on Deckers Outdoor click here. For more ratings news on Deckers Outdoor click here.
Shares of Deckers Outdoor closed at $42.13 yesterday, with a 52 week range of $39.90-$118.90.
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Analyst, Camilo Lyon, said, "DECK reported Q2 EPS of $(0.53) vs. our $(0.60) estimate. Relative to our model, the beat was driven by slightly better sales in UGG and less expense deleverage, which offset a weaker gross margin. Full-year guidance was held; however, all of the H2 EPS growth is expected to come in Q4 with particular emphasis on the retail segment. We believe reliance on retail growth to carry Q4 EPS bears inherent risk, given that questions around price ceilings and UGG’s brand strength remain unanswered at this time. As such, we maintain our rating until we get evidence of strong sell-through in fall/winter."
For an analyst ratings summary and ratings history on Deckers Outdoor click here. For more ratings news on Deckers Outdoor click here.
Shares of Deckers Outdoor closed at $42.13 yesterday, with a 52 week range of $39.90-$118.90.
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