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

Deckers Outdoor Co. (NYSE:DECK) was the recipient of a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 3,640,000 shares, a decline of 5.7% from the November 15th total of 3,860,000 shares. Based on an average daily trading volume, of 1,950,000 shares, the days-to-cover ratio is presently 1.9 days.

Insiders Place Their Bets

In other news, CFO Steven J. Fasching sold 9,198 shares of the business’s 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 transaction, the chief financial officer now directly owns 161,838 shares of the company’s stock, valued at $26,973,539.46. The trade was a 5.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Angela Ogbechie sold 1,278 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $163.24, for a total value of $208,620.72. Following the completion of the transaction, the insider now directly owns 29,628 shares in the company, valued at $4,836,474.72. This represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,234 shares of company stock valued at $15,248,513. 0.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Deckers Outdoor

Institutional investors have recently modified their holdings of the business. Solstein Capital LLC grew its holdings in shares of Deckers Outdoor by 500.0% in the third quarter. Solstein Capital LLC now owns 162 shares of the textile maker’s stock valued at $26,000 after acquiring an additional 135 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Deckers Outdoor by 460.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 28 shares of the textile maker’s stock valued at $27,000 after acquiring an additional 23 shares in the last quarter. Bell Investment Advisors Inc grew its holdings in shares of Deckers Outdoor by 521.4% in the third quarter. Bell Investment Advisors Inc now owns 174 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 146 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in shares of Deckers Outdoor by 2,000.0% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 210 shares of the textile maker’s stock valued at $32,000 after acquiring an additional 200 shares in the last quarter. Finally, Crewe Advisors LLC bought a new position in shares of Deckers Outdoor in the second quarter valued at approximately $34,000. 97.79% of the stock is owned by institutional investors.

Deckers Outdoor Stock Performance

Shares of DECK opened at $210.38 on Wednesday. The stock has a 50 day moving average price of $177.93 and a two-hundred day moving average price of $94.34. The firm has a market capitalization of $31.96 billion, a P/E ratio of 36.97, a P/E/G ratio of 2.87 and a beta of 1.08. Deckers Outdoor has a 52 week low of $108.65 and a 52 week high of $213.03.

Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.35. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates 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 for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 EPS. On average, equities analysts forecast that Deckers Outdoor will post 5.49 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DECK. KeyCorp boosted their price objective on Deckers Outdoor from $190.00 to $213.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Telsey Advisory Group boosted their price objective on Deckers Outdoor from $183.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Wells Fargo & Company boosted their price objective on Deckers Outdoor from $165.00 to $170.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Piper Sandler set a $166.00 target price on Deckers Outdoor in a research report on Thursday, October 17th. Finally, Barclays boosted their target price on Deckers Outdoor from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Deckers Outdoor has an average rating of “Moderate Buy” and an average price target of $158.59.

Deckers Outdoor Company Profile

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.