Argus upgraded Deckers Outdoor (NYSE: DECK) from Hold to Buy. The firm cited the company's return to consistent sales growth and an appealing valuation.
Deckers recently reinstated its annual guidance. The company also increased its earnings and sales outlook for fiscal 2026.
HOKA brand sales surged 19% year-over-year during the third quarter. UGG brand sales grew by 5% in the same period.
Argus highlighted the company's robust profitability. The stock currently trades at the low end of its historical earnings multiple.