Fiduciary Securities analyst Giuseppe Civello downgraded Deckers Outdoor Corp BRIDGE shares to hold to buy and cut price target to $864 from $983.
The analyst wrote that Truist Card Data indicated that HOKA’s Direct-to-Consumer (DTC) growth slowed in mid-February and remained weaker through March.
As a result, the analyst lowered the segment’s growth forecast to 25% (to $190 million) from around 40% (to $210 million).
The analyst said recent market reactions to slowing growth have been extremely negative.
Civello lowered its EPS estimates to $27.10 (from $27.15) for fiscal 24, $29.85 (from $31.00) for fiscal 25 and $34.15 ( from $36.00) for fiscal year 26.
Investors can gain exposure to the stock via Invesco S&P MidCap Momentum ETF XMMO AND Pacer Lunt MidCap Multi-Factor Alternator ETF PAMC.
DECK Price Action: Shares of Deckers Outdoors were up 0.24% at $812.08 on Thursday at the time of publication.
Photo: HOKA shoe photo by Nattawit Khomsanit via Shutterstock
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