DECK Stock: IBD Stock of the Day Deckers stays on track with fashionable Hoka sneakers

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Outdoor bridge workers

Outdoor bridge workers

PLATFORM


$6.32

1.91%




9%

ITN Stock Analysis

  • Bouncing from the 50 day line
  • Consolidation, but needs more time to build a proper base
  • The relative strength line reaches its highest level in 52 weeks

composite score

Industry group ranking

Emerging model

Consolidation

* No real-time data. All data displayed was captured at 2:13 p.m. EDT on 11/10/2022.

The DECK stock is the IBD stock of the day as the Ugg and Hoka brand owner breaks out of support at a key technical level, backed by a strong relative strength line.




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Goleta, based in California Outdoor bridge workers (PLATFORM) is poised to continue growing its profits and revenue, albeit at a sub-double-digit pace.

His favorite celebrity sneaker brand, Hoka One, continues to grow, recently hitting $1 billion in sales. Fans of well-cushioned sneaker brand Hoka include Cameron Diaz, Gwyneth Paltrow and Reese Witherspoon, as well as runners and nurses.

More importantly, shoes tend to be recession proof. People buy shoes in good times and bad. However, Deckers faces headwinds due to ongoing supply disruptions due to the Covid-19 pandemic. It also faces labor shortages; as well as rapidly rising inflation and geopolitical tensions, which are weighing on consumer discretionary spending.


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The DECK stock belongs to the IBD List 50 highest growth values. The company also manufactures clothing and accessories.

BRIDGE stock

Shares of Deckers Outdoor rose 1.9% to 337.52 amid mixed action on the stock market todaybouncing off its 50 and 21 day lines.

DECK stock is consolidating after a strong summer rally. It closed above the 10-week moving average last week, breaking a three-week slide. Crocodile (CROSS) is also holding its own and trying to build a base after hitting summer lows.

The relative force line for DECK stock is trending towards an all-time high after plunging in early 2022, according to MarketSmith chart analysis. A rising RS line is a sign of outperformance against the S&P 500. This is a particularly positive sign given the recent market turbulence.

Deckers stock needs at least a week before forging a proper base.

A 94 Relative strength rating means Deckers Outdoor stock has outperformed 94% of all stocks in IBD’s database over the past year.

This compares to an RS rating of 77 for stock CROX, 51 for Skechers (SKX) and 21 for Nike (NKE). They all saw Amazon (AMZN) are branching out into private label clothing, footwear and accessories.

DECK stock shows zero quarter increase in fund ownership, according to the Inventory Checker Tool.

Deckers Outdoor Earnings

DECK stock gains higher value IBD Composite Rating of 95, out of a maximum of 99. The Comp Score combines key fundamental and technical measurements into one easy-to-use score.

It shows a 94 EPS Ranking out of a high of 99. Deckers continued to increase revenue throughout the coronavirus pandemic, driving sales of casual and comfortable slippers, sandals and sneakers.

In fiscal 2021, Deckers earnings grew 40% per share, as revenue increased 19%. In 2022, earnings and revenue growth exceeded 20%. Deckers’ earnings per share and revenue are expected to grow 11% in 2023.

In the last quarter, which ended in June, sales of the Hoka brand increased by 55% and sales of Teva increased by 2%. But Ugg sales fell 2%. Other brands, primarily Koolaburra, fell 45%.

Online or direct-to-consumer sales are growing.

“Fiscal 2023 is off to a strong start, with Hoka delivering strong growth, propelling the brand to eclipse the $1 billion mark over the twelve-month period,” CEO Dave Powers said in a May 28 earnings release. July.

Over the past three months, Deckers Outdoor’s stock has jumped 28.9%. Year-to-date through Oct. 10, DECK stock is down 9.6% versus a 23.3% decline for the S&P 500.

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