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DECK

Deckers Brands

$76.30

0.51 (0.67%)

10:21
12/07/17
12/07
10:21
12/07/17
10:21

Deckers Brands urges shareholders to vote for director nominees

Deckers Brands issued the following statement in response to the revised Gold proxy card of Marcato Capital Management LP and a revised report from Institutional Shareholder Services regarding the election of directors at Deckers' 2017 Annual Meeting of Stockholders to be held on December 14, 2017: "Stockholders should recognize that a vote on the Gold card is a vote to replace three highly qualified, experienced directors with three unqualified, unknown and unvetted nominees who would not bring any new skills to the Board. Deckers believes that the addition of Marcato's nominees to the Deckers Board could result in significant disruption to the company's ongoing successful transformation. The Deckers Board has been and will continue to be a significant agent of change. As recognized by leading proxy advisory firms Glass Lewis and Egan-Jones in their recommendations that stockholders vote for ALL of Deckers' highly qualified director nominees, Deckers has the right Board and the right strategy to deliver value for all stockholders. The Board remains committed to overseeing the successful transformation of Deckers and continuing to adhere to strong governance practices to enhance stockholder value creation."

DECK Deckers Brands
$76.30

0.51 (0.67%)

10/06/17
BARD
10/06/17
NO CHANGE
Target $67
BARD
Neutral
Marcato plan for Deckers Brands could increase execution risk, says Baird
Baird analyst Jonathan Komp noted Marcato Capital revealed its plans for Deckers Brands to increase shareholder value. He said he has some concerns about its proposals to more aggressively lever the balance sheet while potentially replacing the board/management, which could lead to an increase in short-term execution risks. Komp maintained his Neutral rating and $67 price target on Deckers Brands shares.
10/16/17
SUSQ
10/16/17
DOWNGRADE
SUSQ
Negative
Deckers Brands downgraded to Negative from Neutral at Susquehanna
10/16/17
SUSQ
10/16/17
DOWNGRADE
Target $55
SUSQ
Negative
Deckers Brands downgraded to Negative at Susquehanna
As previously reported, Susquehanna analyst Sam Poser downgraded Deckers Brands to Negative from Neutral as he believes its struggles will continue regardless of whether Marcato adds some of its people to the company's board. He said the UGG brand has diminished due to poor distribution choices and he believes the bench talent is lacking to drive its other brands. Poser lowered his price target to $55 from $57 on Deckers Brands shares.
10/16/17
10/16/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Citi (C) downgraded to Sell from Hold at Societe Generale with analyst Andrew Lim citing the bank's third quarter earnings report. 2. Deckers Brands (DECK) downgraded to Negative from Neutral at Susquehanna with analyst Sam Poser saying he believes its struggles will continue regardless of whether Marcato adds some of its people to the company's board. 3. Adobe (ADBE) downgraded to Hold from Buy at Deutsche Bank with analyst Nandan Amladi saying the valuation is "relatively full" with the shares up 50% year-to-date. 4. Ulta Beauty (ULTA) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Matthew Fassler saying recent data points, including a slowdown in Sephora U.S. sales and Bloomberg SpendTrend, suggest a more complicated path to recovery. 5. Bristol-Myers (BMY) downgraded to Hold from Buy at Jefferies with analyst Jeffrey Holford saying the shares, following the recent rally, have "significant downside risk" should lung cancer trial CheckMate-227 fail. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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SON

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$53.13

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MET

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