It Seems Deckers Outdoor Corporation (DECK) Will Go Down. Formed A Few Months Bearish Ascending Triangle Pattern

December 8, 2017 - By Peter Erickson

Investors sentiment increased to 1.47 in 2017 Q2. Its up 0.21, from 1.26 in 2017Q1. It is positive, 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.
Vanguard Grp Inc, Pennsylvania-based fund reported 2.62M shares. Frontier Mgmt Co Ltd Com invested in 560,840 shares. Dsam Prtnrs (London) owns 15,921 shares or 0.19% of their US portfolio. Principal Financial Gru holds 303,849 shares or 0.02% of its portfolio. Polaris Cap Mngmt Limited Liability Corp stated it has 42,000 shares. Hbk Invs Lp has invested 0.02% in Deckers Outdoor Corporation (NYSE:DECK). Texas Permanent School Fund holds 0.02% or 23,356 shares in its portfolio. Van Hulzen Asset Mgmt Ltd Liability has invested 0.88% in Deckers Outdoor Corporation (NYSE:DECK). Ohio-based James Inv Research has invested 0% in Deckers Outdoor Corporation (NYSE:DECK). Prelude Capital Management Ltd Liability Co has 0% invested in Deckers Outdoor Corporation (NYSE:DECK). Fifth Third Bancshares owns 4,870 shares. Creative Planning holds 0% of its portfolio in Deckers Outdoor Corporation (NYSE:DECK) for 1,155 shares. Strs Ohio stated it has 0% of its portfolio in Deckers Outdoor Corporation (NYSE:DECK). Boothbay Fund Mgmt Lc accumulated 3,637 shares or 0.05% of the stock. Waratah Cap Advsrs has 0.35% invested 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. Citigroup maintained it with “Buy” rating and $56 target in Thursday, January 21 report. Brean Capital maintained Deckers Outdoor Corporation (NYSE:DECK) on Friday, May 27 with “Buy” rating. The firm has “Equal-Weight” rating given on Monday, August 7 by Morgan Stanley. The stock of Deckers Outdoor Corporation (NYSE:DECK) earned “Negative” rating by Susquehanna on Thursday, October 13. On Tuesday, June 27 the stock rating was maintained by Stifel Nicolaus with “Buy”. The firm earned “Neutral” rating on Monday, November 30 by Piper Jaffray. The stock of Deckers Outdoor Corporation (NYSE:DECK) has “Negative” rating given on Monday, October 16 by Susquehanna. Canaccord Genuity maintained Deckers Outdoor Corporation (NYSE:DECK) rating on Friday, February 3. Canaccord Genuity has “Buy” rating and $60 target. Susquehanna upgraded it to “Neutral” rating and $40 target in Friday, February 3 report. The rating was downgraded by Citigroup to “Neutral” on Friday, May 27.

More notable recent Deckers Outdoor Corporation (NYSE:DECK) news were published by: Reuters.com which released: “Deckers to appoint new directors; Marcato not satisfied” on November 27, 2017, also Seekingalpha.com with their article: “Deckers Brands updates on board process” published on December 04, 2017, Seekingalpha.com published: “Deckers Shares Poised To Appreciate More Than 50%” on November 13, 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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