Deckers Outdoor Co. (NYSE:DECK) Sees Significant Decrease in Short Interest

Deckers Outdoor Co. (NYSE:DECK) was the target of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 4,200,000 shares, a drop of 10.1% from the October 15th total of 4,670,000 shares. Based on an average trading volume of 1,910,000 shares, the days-to-cover ratio is presently 2.2 days.

Wall Street Analyst Weigh In

DECK has been the topic of a number of analyst reports. Piper Sandler set a $166.00 price objective on shares of Deckers Outdoor in a research note on Thursday, October 17th. Wells Fargo & Company increased their target price on shares of Deckers Outdoor from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Stifel Nicolaus lifted their price target on shares of Deckers Outdoor from $147.83 to $181.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Robert W. Baird increased their price objective on shares of Deckers Outdoor from $180.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, UBS Group raised their target price on Deckers Outdoor from $226.00 to $232.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $149.50.

Deckers Outdoor Stock Up 0.1 %

Shares of NYSE:DECK traded up $0.16 during midday trading on Tuesday, reaching $176.61. 855,316 shares of the company traded hands, compared to its average volume of 2,232,804. Deckers Outdoor has a 12 month low of $103.37 and a 12 month high of $184.48. The firm has a market capitalization of $26.83 billion, a price-to-earnings ratio of 31.03, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05. The firm’s fifty day moving average price is $148.33 and its two-hundred day moving average price is $69.15.

Deckers Outdoor (NYSE:DECK) last released its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.35. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Deckers Outdoor had a return on equity of 41.48% and a net margin of 18.95%. The company’s revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.14 EPS. Analysts forecast that Deckers Outdoor will post 5.48 earnings per share for the current year.

Insider Activity at Deckers Outdoor

In other Deckers Outdoor news, CFO Steven J. Fasching sold 9,198 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $166.67, for a total value of $1,533,030.66. Following the completion of the transaction, the chief financial officer now directly owns 161,838 shares in the company, valued at approximately $26,973,539.46. This trade represents a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bonita C. Stewart sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $175.42, for a total value of $1,578,780.00. Following the completion of the transaction, the director now directly owns 44,988 shares of the company’s stock, valued at $7,891,794.96. This represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 169,110 shares of company stock valued at $8,237,150 over the last three months. 0.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Deckers Outdoor

Hedge funds and other institutional investors have recently modified their holdings of the stock. Natixis grew its holdings in shares of Deckers Outdoor by 513.3% during the 1st quarter. Natixis now owns 13,113 shares of the textile maker’s stock worth $12,343,000 after acquiring an additional 10,975 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in shares of Deckers Outdoor by 13.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 5,036 shares of the textile maker’s stock valued at $4,740,000 after buying an additional 590 shares during the last quarter. UniSuper Management Pty Ltd lifted its position in Deckers Outdoor by 583.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 1,366 shares of the textile maker’s stock valued at $1,286,000 after acquiring an additional 1,166 shares in the last quarter. Blair William & Co. IL boosted its stake in Deckers Outdoor by 5.2% during the 1st quarter. Blair William & Co. IL now owns 953 shares of the textile maker’s stock valued at $897,000 after purchasing an additional 47 shares during the last quarter. Finally, Boulder Hill Capital Management LP increased its holdings in shares of Deckers Outdoor by 35.5% in the 1st quarter. Boulder Hill Capital Management LP now owns 4,200 shares of the textile maker’s stock worth $3,953,000 after purchasing an additional 1,100 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

About Deckers Outdoor

Deckers Outdoor Corporation, together with its subsidiaries, designs, markets, and distributes footwear, apparel, and accessories for casual lifestyle use and high-performance activities in the United States and internationally. The company offers premium footwear, apparel, and accessories under the UGG brand name; footwear, apparel, and accessories for ultra-runners and athletes under the HOKA brand name; and sandals, shoes, and boots under the Teva brand name.