Deckers Outdoor Corporation (DECK)’s Stock Formed A Several Months 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 increased, 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.
Dalton Greiner Hartman Maher And stated it has 198,563 shares or 0.79% of all its holdings. Nationwide Fund Advisors owns 0.02% invested in Deckers Outdoor Corporation (NYSE:DECK) for 76,883 shares. Citigroup reported 18,559 shares stake. Red Mountain Prtnrs Limited Liability Company stated it has 23.53% of its portfolio in Deckers Outdoor Corporation (NYSE:DECK). Huntington Bancshares stated it has 26 shares or 0% of all its holdings. Ameritas Invest Prns invested 0.04% of its portfolio in Deckers Outdoor Corporation (NYSE:DECK). Schwab Charles Mgmt Inc owns 255,364 shares. Jpmorgan Chase And owns 72,819 shares. 255,347 are owned by Palisade Mngmt Lc Nj. Peak6 Limited Partnership owns 25,195 shares. Renaissance Technology Ltd Liability Co holds 0.01% of its portfolio in Deckers Outdoor Corporation (NYSE:DECK) for 98,800 shares. Millennium Management Limited Liability Corp holds 393,492 shares. Susquehanna Gp Ltd Liability Partnership, a Pennsylvania-based fund reported 3,200 shares. 80,000 are owned by California Public Employees Retirement System. Parallax Volatility Advisers L P holds 0% in Deckers Outdoor Corporation (NYSE:DECK) or 2,654 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 $121.13 million 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 firm earned “Buy” rating on Friday, May 26 by Canaccord Genuity. The rating was downgraded by Bank of America to “Neutral” on Friday, February 5. The rating was maintained by Canaccord Genuity with “Buy” on Friday, May 27. The rating was maintained by Stifel Nicolaus with “Buy” on Tuesday, June 27. The firm has “Buy” rating by Canaccord Genuity given on Thursday, July 27. Standpoint Research downgraded Deckers Outdoor Corporation (NYSE:DECK) on Tuesday, August 2 to “Hold” rating. Buckingham Research maintained the shares of DECK in report on Friday, October 27 with “Neutral” rating. The rating was maintained by Piper Jaffray with “Hold” on Friday, September 29. The stock of Deckers Outdoor Corporation (NYSE:DECK) has “Neutral” rating given on Tuesday, October 27 by Sterne Agee CRT. The firm has “Buy” rating by Citigroup given on Tuesday, March 29.

More notable recent Deckers Outdoor Corporation (NYSE:DECK) news were published by: Seekingalpha.com which released: “Deckers Brands updates on board process” on December 04, 2017, also Twst.com with their article: “Deckers Outdoor Corporation: Egan-Jones Joins Glass Lewis in Recommending …” published on December 06, 2017, Streetinsider.com published: “ISS Recommends Deckers (DECK) Stockholders Vote For Marcato Nominees” on December 07, 2017. More interesting news about Deckers Outdoor Corporation (NYSE:DECK) were released by: Twst.com and their article: “Deckers Outdoor Corporation: Leading Independent Proxy Advisory Firms Glass …” published on December 01, 2017 as well as Seekingalpha.com‘s news article titled: “Deckers Shares Poised To Appreciate More Than 50%” with publication date: November 13, 2017.

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