Deckers Outdoor Faces Direct-To-Consumer Growth Slowdown, Analyst Downgrades Stock
Truist Securities analyst Joseph Civello downgraded Deckers Outdoor Corp (NYSE:DECK) stock to Hold from Buy and cut the price target to $864 from $983.
The analyst wrote that Truist Card Data indicated HOKA's Direct-to-Consumer (DTC) growth decelerated in mid-February and remained softer through March.
Consequently, the analyst lowered the segment growth forecast to 25% (to $190 million) from ~40% (to $210 million).
The analyst said the recent market reactions to slowing growth have been extremely negative.
Civello lowered EPS estimates to $27.10 (from $27.15) for FY24, $29.85 (from $31.00) for FY25, and $34.15 (from $36.00) for FY26.
Investors can gain exposure to the stock via Invesco S&P MidCap Momentum ETF (NYSE:XMMO) and Pacer Lunt MidCap Multi-Factor Alternator ETF (NYSE:PAMC).
DECK Price Action: Deckers Outdoors shares are up 0.24% at $812.08 Thursday at publication.
Photo: HOKA shoes photo by Nattawit Khomsanit via Shutterstock
Latest Ratings for DECK
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Feb 2022 | Telsey Advisory Group | Maintains | Outperform | |
| Jan 2022 | Seaport Global | Initiates Coverage On | Buy | |
| Oct 2021 | Wedbush | Initiates Coverage On | Neutral |
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