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Deckers Outdoor Corporation (NYSE:DECK) shares are trading higher today.
The parent company of famous brands HOKA and UGG reported better-than-expected results for the first quarter. The company reported revenues of $825 million, versus estimates of $807.94 million.
Telsey Advisory Group analyst Dana Telsey maintains Deckers Outdoor with an Outperform and a $1,100 price target.
The footwear company’s quarterly gross margin was 56.9% compared to 51.3% a year ago. Operating income was $132.8 million compared to $70.7 million a year earlier.
Check This Out: Deckers Outdoor Q1 Earnings: Revenue, EPS Beat On Strength In HOKA, UGG Brands
The company exited the quarter with cash and cash equivalents of $1.438 billion, up from $1.047 billion, while inventories increased to $753.3 million from $740.6 million, and it maintained a zero balance in borrowings.
Baird analyst Jonathan Komp maintains Deckers Outdoor with an Outperform and raises the price target from $1,050 to $1,075.
During the first fiscal quarter, the company repurchased approximately 177 thousand shares of its common stock for a total of $152.0 million at a weighted average price paid per share of $858.79.
As of June 30, the company had approximately $789.7 million remaining under its stock repurchase authorization.
Deckers raised its full-year 2025 earnings guidance to be in the range of $29.75 to $30.65 per share (prior view: 29.50 to $30.00).
Price Action: DECK shares are trading higher by 11.9% to $941.78 at last check Friday.
Photo by Nattawit Khomsanit via Shutterstock
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