Deckers Outdoor (DECK) Lower as Big UGG Markdowns Seen at Retail
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Price: $89.51 -0.67%
Rating Summary:
23 Buy, 21 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 16 | New: 37
Rating Summary:
23 Buy, 21 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 16 | New: 37
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Shares of UGG-maker Deckers Outdoor (NASDAQ: DECK) are seeing early pressure Monday after analysts noted accelerated markdowns due to warmer December weather.
Piper Jaffray analyst Erinn Murphy said checks showed UGGs markdowns of 20%-50% at retail. They cut Q4 EPS estimates and margins saying it's the most exposed to cold-weather with Q4 representing 78% of annual earnings.
The firm cut Q4 EPS estimates from $2.57 to $2.51 and gross margin was lowered by 50 bps. The firm maintained a Neutral rating and price target of $35 on the stock.
In addition to Deckers, the firm cut estimates on Zumiez, Inc. (NASDAQ: ZUMZ), which derives 47% of its yearly earnings in Q4. The firm is still positive on G-III Apparel (NASDAQ: GIII).
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 are down 2.6 percent early to $41.64.
Piper Jaffray analyst Erinn Murphy said checks showed UGGs markdowns of 20%-50% at retail. They cut Q4 EPS estimates and margins saying it's the most exposed to cold-weather with Q4 representing 78% of annual earnings.
The firm cut Q4 EPS estimates from $2.57 to $2.51 and gross margin was lowered by 50 bps. The firm maintained a Neutral rating and price target of $35 on the stock.
In addition to Deckers, the firm cut estimates on Zumiez, Inc. (NASDAQ: ZUMZ), which derives 47% of its yearly earnings in Q4. The firm is still positive on G-III Apparel (NASDAQ: GIII).
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 are down 2.6 percent early to $41.64.
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