The provided HTML code contains a news article about Deckers Outdoor Corp., the parent company of Hoka and Ugg. The article discusses the company’s recent stock performance and the outlook for its major brands.The provided HTML code contains a news article about Deckers Outdoor Corp., the parent company of Hoka and Ugg. The article discusses the company’s recent stock performance and the outlook for its major brands. Here is a breakdown of the HTML code: 1. `
By means of
Bloomberg
`: This section indicates that the article was published by Bloomberg. 2. `
Published
July 12, 2024
`: This section specifies that the article was published on July 12, 2024. 3. `
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Now is the time to buy, according to a Wedbush analyst, as Hoka and Ugg’s parent company, Deckers Outdoor Corp., pull back from record highs.
`: This opening paragraph summarizes the main point of the article, which is that Deckers’ stock is currently trading at a discount and is a good buy opportunity. 5. `
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`: This section contains the text of the article. 7. The article discusses the reasons for Wedbush’s analyst’s bullish outlook on Deckers, including the company’s strong brands and its ability to develop new products. 8. The article also mentions some of the challenges that Deckers faces, such as slowing growth for Hoka and Ugg. 9. The article concludes with a summary of Wall Street’s overall bullish view on Deckers.
By means of
Bloomberg
Published
July 12, 2024
Now is the time to buy, according to a Wedbush analyst, as Hoka and Ugg’s parent company, Deckers Outdoor Corp., pull back from record highs.
Oh dear
The footwear company, which Tom Nikic called “one of the strongest, best-run companies” in his report, has fallen nearly 20% from a closing record set in late May. That’s a significant discount for Nikic, who has an outperform rating and a $1,030 price target on the stock, about 16% above current trading.
“They’ve been very good at developing new products and recognizing that they can’t rest on their laurels,” Nikic said in an interview, adding that Deckers’ top brands, Hoka and Ugg, are “still hot.”
In the near term, Nikic expects Hoka’s athletic footwear and apparel brand to drive the most momentum, as the first quarter is typically a “seasonal low” for Ugg, known for its ubiquitous sheepskin boots. Commentary on the two brands will be crucial when Deckers reports earnings later this summer, as the company typically reports its smallest gains of the year in the first quarter, he noted.
“The stock reaction will be driven more by management’s tone around the two core assets (which we expect to be optimistic) than by a major change in estimates,” he wrote in a note on Thursday.
The stock has its critics. On Wednesday, Deckers was the worst performer in the S&P 500 after data-driven research firm M Science pointed to slowing growth for Hoka and Ugg in June. Shares fell 0.5% on Thursday, putting the company on track for its worst weekly performance since April.
Overall, Wall Street remains largely bullish on the shoemaker, giving it 16 buy ratings, five hold ratings and two sell ratings, according to data compiled by Bloomberg. Over the past 12 months, the company has been the best performer in the S&P 500’s consumer sector, thanks to a rally of more than 60%.
