Is Deckers Outdoor Corporation (DECK) a Sell? The Stock Formed Bearish Ascending Triangle Pattern

December 8, 2017 - By Migdalia James

Investors sentiment increased to 1.47 in Q2 2017. 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.
Commercial Bank Of Montreal Can reported 0% stake. Brandywine Glob Management Limited Liability Corp holds 0.05% of its portfolio in Deckers Outdoor Corporation (NYSE:DECK) for 122,864 shares. Aperio Group Lc reported 0% stake. Comerica Bancorporation holds 39,511 shares or 0.02% of its portfolio. Glenmede Com Na invested in 60 shares. The New York-based Renaissance Technologies Limited Company has invested 0.01% in Deckers Outdoor Corporation (NYSE:DECK). Goldman Sachs Grp Inc Inc stated it has 0% of its portfolio in Deckers Outdoor Corporation (NYSE:DECK). 13,500 were reported by Arizona State Retirement Systems. Brinker Capital Inc accumulated 19,036 shares. Hutchin Hill Capital L P invested 0.11% in Deckers Outdoor Corporation (NYSE:DECK). Canada Pension Plan Inv Board holds 0.01% or 54,485 shares in its portfolio. Jane Street Gp Limited Liability Company owns 0.01% invested in Deckers Outdoor Corporation (NYSE:DECK) for 25,743 shares. Freestone Cap Limited Company reported 0.06% in Deckers Outdoor Corporation (NYSE:DECK). State Treasurer State Of Michigan holds 0.01% of its portfolio in Deckers Outdoor Corporation (NYSE:DECK) for 13,200 shares. Stevens Capital Mngmt Ltd Partnership holds 4,500 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 EPS, down 7.79 % or $0.32 from last year’s $4.11 per share. DECK’s profit will be $121.13 million for 5.03 P/E if the $3.79 EPS becomes a reality. After $1.54 actual EPS 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. On Friday, May 27 the stock rating was downgraded by Citigroup to “Neutral”. As per Friday, February 5, the company rating was maintained by Macquarie Research. Morgan Stanley maintained the stock with “Equal-Weight” rating in Tuesday, October 31 report. The rating was maintained by Piper Jaffray with “Hold” on Friday, September 29. On Friday, May 26 the stock rating was maintained by Stifel Nicolaus with “Buy”. The firm has “Neutral” rating by B. Riley & Co given on Friday, February 5. Citigroup maintained Deckers Outdoor Corporation (NYSE:DECK) rating on Tuesday, June 14. Citigroup has “Neutral” rating and $56 target. The stock of Deckers Outdoor Corporation (NYSE:DECK) has “Buy” rating given on Friday, May 26 by Jefferies. The rating was maintained by Robert W. Baird with “Hold” on Thursday, October 26. The stock of Deckers Outdoor Corporation (NYSE:DECK) has “Outperform” rating given on Monday, August 15 by Telsey Advisory Group.

More notable recent Deckers Outdoor Corporation (NYSE:DECK) news were published by: Twst.com which released: “Deckers Outdoor Corporation: Egan-Jones Joins Glass Lewis in Recommending …” on December 06, 2017, also Seekingalpha.com with their article: “Deckers Brands updates on board process” published on December 04, 2017, Reuters.com published: “Deckers to appoint new directors; Marcato not satisfied” on November 27, 2017. More interesting news about Deckers Outdoor Corporation (NYSE:DECK) were released by: Streetinsider.com and their article: “ISS Recommends Deckers (DECK) Stockholders Vote For Marcato Nominees” published on December 07, 2017 as well as Seekingalpha.com‘s news article titled: “Deckers takes actions to pursue dismissing Marcato suit” with publication date: November 11, 2017.

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