What’s Next for Deckers Outdoor Corporation (DECK) After Forming Bearish Ascending Triangle Chart Pattern?

December 8, 2017 - By Maria Brooks

Investors sentiment increased to 1.47 in 2017 Q2. Its up 0.21, from 1.26 in 2017Q1. It improved, as 33 investors sold Deckers Outdoor Corporation shares while 55 reduced holdings. 51 funds opened positions while 78 raised stakes. 31.45 million shares or 10.74% less from 35.24 million shares in 2017Q1 were reported.
Texas Permanent School Fund owns 23,356 shares for 0.02% of their portfolio. Riverhead Cap Mgmt Limited Liability Corp holds 0.01% in Deckers Outdoor Corporation (NYSE:DECK) or 1,931 shares. Highbridge Cap Mngmt Ltd Liability Corporation invested in 13,365 shares or 0.01% of the stock. Lsv Asset Mgmt invested 0.02% in Deckers Outdoor Corporation (NYSE:DECK). Valley Natl Advisers reported 5 shares stake. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Management holds 45,000 shares or 0.03% of its portfolio. Peak6 Invests Lp invested 0.01% in Deckers Outdoor Corporation (NYSE:DECK). Dimensional Fund Lp holds 0.08% or 2.55M shares. Royal National Bank & Trust Of Canada invested in 767 shares or 0% of the stock. Aperio Group Inc Limited Liability has invested 0% in Deckers Outdoor Corporation (NYSE:DECK). Prudential Financial Inc has invested 0% in Deckers Outdoor Corporation (NYSE:DECK). Rothschild Asset Management owns 14,929 shares for 0.01% of their portfolio. Gam Holdg Ag holds 49,000 shares or 0.05% of its portfolio. Ameritas Inv Prtn has 12,217 shares. State Treasurer State Of Michigan reported 13,200 shares.

The stock of Deckers Outdoor Corporation (DECK) formed an ascending triangle with $73.99 target or 3.00 % below today’s $76.28 share price. The 6 months triangle pattern indicates high risk for the $2.44 billion company. If the $73.99 price target is reached, the company will be worth $73.14 million less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

The stock increased 0.65% or $0.49 during the last trading session, reaching $76.28. About 477,481 shares traded. Deckers Outdoor Corporation (NYSE:DECK) has risen 19.41% since December 8, 2016 and is uptrending. It has outperformed by 2.71% the S&P500.

Analysts await Deckers Outdoor Corporation (NYSE:DECK) to report earnings on February, 1. They expect $3.79 earnings per share, down 7.79 % or $0.32 from last year’s $4.11 per share. DECK’s profit will be $121.13M for 5.03 P/E if the $3.79 EPS becomes a reality. After $1.54 actual earnings per share reported by Deckers Outdoor Corporation for the previous quarter, Wall Street now forecasts 146.10 % EPS growth.

Deckers Outdoor Corporation (NYSE:DECK) Ratings Coverage

Among 24 analysts covering Deckers Outdoor (NYSE:DECK), 8 have Buy rating, 3 Sell and 13 Hold. Therefore 33% are positive. Deckers Outdoor had 75 analyst reports since July 31, 2015 according to SRatingsIntel. The rating was downgraded by B. Riley & Co on Monday, January 4 to “Neutral”. Citigroup maintained the shares of DECK in report on Friday, October 27 with “Neutral” rating. On Friday, September 1 the stock rating was maintained by Robert W. Baird with “Hold”. On Friday, May 27 the stock rating was maintained by Goldman Sachs with “Buy”. Piper Jaffray maintained the shares of DECK in report on Monday, November 30 with “Neutral” rating. The stock has “Buy” rating by Jefferies on Friday, October 27. The rating was upgraded by Telsey Advisory Group to “Outperform” on Monday, August 15. As per Friday, February 3, the company rating was maintained by Telsey Advisory Group. The rating was maintained by Susquehanna with “Hold” on Tuesday, June 27. Morgan Stanley maintained Deckers Outdoor Corporation (NYSE:DECK) rating on Monday, August 7. Morgan Stanley has “Equal-Weight” rating and $61 target.

More notable recent Deckers Outdoor Corporation (NYSE:DECK) news were published by: Streetinsider.com which released: “ISS Recommends Deckers (DECK) Stockholders Vote For Marcato Nominees” on December 07, 2017, also Seekingalpha.com with their article: “Deckers takes actions to pursue dismissing Marcato suit” published on November 11, 2017, Seekingalpha.com published: “Deckers Shares Poised To Appreciate More Than 50%” on November 13, 2017. More interesting news about Deckers Outdoor Corporation (NYSE:DECK) were released by: Twst.com and their article: “Deckers Outdoor Corporation: Egan-Jones Joins Glass Lewis in Recommending …” published on December 06, 2017 as well as Seekingalpha.com‘s news article titled: “Deckers Brands updates on board process” with publication date: December 04, 2017.

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