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Deckers (DECK) Stock Jumps 4.8%: Will It Continue to Soar?

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Deckers DECK shares ended the last trading session 4.8% higher at $273.32. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.5% loss over the past four weeks.

Deckers’ focus on accelerating omni-channel capabilities, international expansion, new product categories as well as customer-centric product and marketing strategies have been contributing to its performance. We note that the company’s UGG and HOKA ONE ONE brands remain primary growth drivers. Management envisions fiscal 2023 net sales in the range of $3.45 billion to $3.50 billion.

This maker of Ugg footwear is expected to post quarterly earnings of $1.53 per share in its upcoming report, which represents a year-over-year change of -10.5%. Revenues are expected to be $577.91 million, up 14.5% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Deckers, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on DECK going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Deckers is a member of the Zacks Shoes and Retail Apparel industry. One other stock in the same industry, Wolverine World Wide WWW, finished the last trading session 7.1% higher at $21.05. WWW has returned -2.8% over the past month.

Wolverine's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.65. Compared to the company's year-ago EPS, this represents a change of -3%. Wolverine currently boasts a Zacks Rank of #3 (Hold).


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