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

December 8, 2017 - By Vivian Currie

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.
Waratah Advisors Limited stated it has 0.35% of its portfolio in Deckers Outdoor Corporation (NYSE:DECK). Dimensional Fund Advisors Lp holds 2.55 million shares. Balyasny Asset Limited Liability Corporation stated it has 0% of its portfolio in Deckers Outdoor Corporation (NYSE:DECK). Walleye Trading Llc holds 255 shares or 0% of its portfolio. Stevens Capital Mngmt Ltd Partnership holds 0.01% of its portfolio in Deckers Outdoor Corporation (NYSE:DECK) for 4,500 shares. Kennedy Capital Mgmt Incorporated holds 0.06% in Deckers Outdoor Corporation (NYSE:DECK) or 48,540 shares. London Of Virginia holds 0.62% or 1.34M shares in its portfolio. 13D Mngmt Ltd Llc holds 3.54% or 146,214 shares. Guggenheim Capital Limited Liability Corporation reported 0.02% of its portfolio in Deckers Outdoor Corporation (NYSE:DECK). Gotham Asset Management Ltd Co owns 124,507 shares or 0.12% of their US portfolio. Airain Limited has invested 0.02% in Deckers Outdoor Corporation (NYSE:DECK). Canada Pension Plan Invest Board holds 54,485 shares or 0.01% of its portfolio. Profund Advsr Lc owns 4,476 shares for 0.01% of their portfolio. State Street owns 1.04M shares. Trexquant Investment Ltd Partnership invested 0.29% in Deckers Outdoor Corporation (NYSE:DECK).

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. The stock of Deckers Outdoor Corporation (NYSE:DECK) has “Buy” rating given on Friday, May 27 by Goldman Sachs. Morgan Stanley maintained it with “Equal-Weight” rating and $61 target in Monday, August 7 report. On Thursday, October 13 the stock rating was downgraded by Susquehanna to “Negative”. The rating was downgraded by Buckingham Research to “Neutral” on Thursday, June 8. The firm has “Negative” rating given on Monday, October 16 by Susquehanna. As per Friday, February 5, the company rating was downgraded by Bank of America. Stifel Nicolaus maintained it with “Buy” rating and $80 target in Friday, October 6 report. The firm earned “Hold” rating on Friday, May 26 by Susquehanna. Susquehanna upgraded it to “Neutral” rating and $40 target in Friday, February 3 report. The stock of Deckers Outdoor Corporation (NYSE:DECK) has “Hold” rating given on Tuesday, August 2 by Standpoint Research.

More notable recent Deckers Outdoor Corporation (NYSE:DECK) news were published by: Twst.com which released: “Deckers Outdoor Corporation: Leading Independent Proxy Advisory Firms Glass …” on December 01, 2017, also Seekingalpha.com with their article: “Deckers takes actions to pursue dismissing Marcato suit” published on November 11, 2017, Twst.com published: “Deckers Outdoor Corporation: Egan-Jones Joins Glass Lewis in Recommending …” on December 06, 2017. More interesting news about Deckers Outdoor Corporation (NYSE:DECK) were released by: Seekingalpha.com and their article: “Deckers Shares Poised To Appreciate More Than 50%” published on November 13, 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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