Truist Securities analyst Joseph Civello downgraded Deckers Outside Corp DECK inventory to Maintain from Purchase and minimize the worth goal to $864 from $983.

The analyst wrote that Truist Card Information indicated HOKA’s Direct-to-Client (DTC) development decelerated in mid-February and remained softer by March. 

Consequently, the analyst lowered the section development forecast to 25% (to $190 million) from ~40% (to $210 million).

The analyst stated the current market reactions to slowing development have been extraordinarily unfavorable. 

Civello lowered EPS estimates to $27.10 (from $27.15) for FY24, $29.85 (from $31.00) for FY25, and $34.15 (from $36.00) for FY26.

Traders can achieve publicity to the inventory by way of Invesco S&P MidCap Momentum ETF XMMO and Pacer Lunt MidCap Multi-Issue Alternator ETF PAMC.

DECK Worth Motion: Deckers Outdoor shares are up 0.24% at $812.08 Thursday at publication.

Photograph: HOKA footwear photograph by Nattawit Khomsanit by way of Shutterstock