Deckers Outdoor Co. (NYSE:DECK) Short Interest Down 8.1% in November

Deckers Outdoor Co. (NYSE:DECK) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 3,860,000 shares, a drop of 8.1% from the October 31st total of 4,200,000 shares. Based on an average daily volume of 1,980,000 shares, the days-to-cover ratio is presently 1.9 days.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Truist Financial boosted their price target on Deckers Outdoor from $204.17 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Bank of America upped their price target on Deckers Outdoor from $170.00 to $182.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Needham & Company LLC began coverage on Deckers Outdoor in a report on Friday, November 22nd. They set a “buy” rating and a $218.00 price target on the stock. Robert W. Baird upped their price target on Deckers Outdoor from $180.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, Seaport Res Ptn cut Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 7th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $153.53.

Insider Activity

In other Deckers Outdoor news, insider Anne Spangenberg sold 3,882 shares of Deckers Outdoor stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $186.43, for a total transaction of $723,721.26. Following the completion of the transaction, the insider now owns 67,434 shares in the company, valued at approximately $12,571,720.62. The trade was a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bonita C. Stewart sold 4,500 shares of Deckers Outdoor stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $186.43, for a total value of $838,935.00. Following the transaction, the director now owns 40,733 shares of the company’s stock, valued at $7,593,853.19. The trade was a 9.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 210,492 shares of company stock worth $15,590,797 in the last quarter. 0.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Deckers Outdoor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DECK. Janus Henderson Group PLC boosted its stake in Deckers Outdoor by 85.9% during the first quarter. Janus Henderson Group PLC now owns 3,201 shares of the textile maker’s stock valued at $3,011,000 after buying an additional 1,479 shares during the last quarter. Swedbank AB bought a new position in Deckers Outdoor during the first quarter valued at approximately $4,580,000. Atria Investments Inc boosted its stake in Deckers Outdoor by 35.4% during the first quarter. Atria Investments Inc now owns 2,393 shares of the textile maker’s stock valued at $2,252,000 after buying an additional 626 shares during the last quarter. Cetera Investment Advisers boosted its stake in Deckers Outdoor by 360.9% during the first quarter. Cetera Investment Advisers now owns 5,075 shares of the textile maker’s stock valued at $4,777,000 after buying an additional 3,974 shares during the last quarter. Finally, Cetera Advisors LLC boosted its stake in Deckers Outdoor by 135.5% during the first quarter. Cetera Advisors LLC now owns 1,858 shares of the textile maker’s stock valued at $1,749,000 after buying an additional 1,069 shares during the last quarter. 97.79% of the stock is owned by institutional investors.

Deckers Outdoor Price Performance

Shares of NYSE:DECK traded up $5.94 during trading on Monday, hitting $201.90. 1,999,235 shares of the company’s stock were exchanged, compared to its average volume of 2,229,967. Deckers Outdoor has a 52-week low of $108.65 and a 52-week high of $203.78. The business’s 50-day simple moving average is $167.83 and its 200 day simple moving average is $80.66. The company has a market cap of $30.67 billion, a price-to-earnings ratio of 35.15, a PEG ratio of 2.75 and a beta of 1.05.

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

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.