Jefferies Downgrades Deckers Outdoor (DECK) to Hold
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Price: $91.68 +3.17%
Rating Summary:
23 Buy, 21 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
23 Buy, 21 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies downgraded Deckers Outdoor (NASDAQ: DECK) from Buy to Hold with a price target of $65 (down from $120) following weak Q1 results.
The firm comments, "We are downgrading the stock on a loss of confidence in near-term EPS visibility. 1Q now marks two consecutive disappointing quarters for a company that typically beats expectations. That said, we remain optimistic around the long-term opportunity as this earnings season (including DECK results) is making it more obvious that the issues here are not brand related and mostly a function of macro/weather. Will revisit thesis in Fall 2012."
Jefferies cut Q2 EPS ($0.42) to ($0.60), FY12 from $5.25 to $4.55 and FY13 from $6.60 to $5.75.
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 $69.46 yesterday.
The firm comments, "We are downgrading the stock on a loss of confidence in near-term EPS visibility. 1Q now marks two consecutive disappointing quarters for a company that typically beats expectations. That said, we remain optimistic around the long-term opportunity as this earnings season (including DECK results) is making it more obvious that the issues here are not brand related and mostly a function of macro/weather. Will revisit thesis in Fall 2012."
Jefferies cut Q2 EPS ($0.42) to ($0.60), FY12 from $5.25 to $4.55 and FY13 from $6.60 to $5.75.
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 $69.46 yesterday.
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