Short Interest in Deckers Outdoor Co. (NYSE:DECK) Drops By 5.7%

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

Insider Activity

In other news, CEO Caroti Stefano sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $175.73, for a total value of $2,635,950.00. Following the completion of the transaction, the chief executive officer now owns 273,540 shares of the company’s stock, valued at approximately $48,069,184.20. This represents a 5.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven J. Fasching sold 9,198 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now directly owns 161,838 shares in the company, valued at approximately $26,973,539.46. The trade was a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,234 shares of company stock valued at $15,248,513. Insiders own 0.40% of the company’s stock.

Institutional Trading of Deckers Outdoor

A number of hedge funds and other institutional investors have recently modified their holdings of DECK. Lord Abbett & CO. LLC raised its stake in Deckers Outdoor by 110.4% during the 3rd quarter. Lord Abbett & CO. LLC now owns 60,894 shares of the textile maker’s stock valued at $9,710,000 after purchasing an additional 31,947 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Deckers Outdoor by 506.7% in the third quarter. B. Riley Wealth Advisors Inc. now owns 6,674 shares of the textile maker’s stock worth $1,060,000 after buying an additional 5,574 shares in the last quarter. Logan Capital Management Inc. boosted its position in shares of Deckers Outdoor by 494.1% during the third quarter. Logan Capital Management Inc. now owns 112,519 shares of the textile maker’s stock worth $17,941,000 after acquiring an additional 93,580 shares during the last quarter. Retirement Systems of Alabama grew its stake in Deckers Outdoor by 3,428.6% during the third quarter. Retirement Systems of Alabama now owns 199,753 shares of the textile maker’s stock valued at $31,851,000 after acquiring an additional 194,092 shares in the last quarter. Finally, Oddo BHF Asset Management Sas bought a new stake in Deckers Outdoor in the 3rd quarter valued at $2,245,000. 97.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DECK shares. UBS Group raised their target price on shares of Deckers Outdoor from $226.00 to $232.00 and gave the company a “buy” rating in a research note on Friday, October 25th. BTIG Research lowered Deckers Outdoor from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 22nd. Telsey Advisory Group boosted their target price on Deckers Outdoor from $183.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Guggenheim assumed coverage on Deckers Outdoor in a report on Wednesday, October 9th. They set a “neutral” rating for the company. Finally, Piper Sandler set a $166.00 price objective on shares of Deckers Outdoor in a research report on Thursday, October 17th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Deckers Outdoor has a consensus rating of “Moderate Buy” and an average target price of $158.59.

Deckers Outdoor Trading Down 0.5 %

NYSE DECK traded down $1.00 during trading hours on Tuesday, hitting $210.12. 842,928 shares of the company’s stock traded hands, compared to its average volume of 2,202,170. Deckers Outdoor has a 52 week low of $108.65 and a 52 week high of $213.03. The firm has a market capitalization of $31.92 billion, a P/E ratio of 37.00, a P/E/G ratio of 2.87 and a beta of 1.08. The business’s fifty day moving average price is $177.93 and its two-hundred day moving average price is $94.34.

Deckers Outdoor (NYSE:DECK) last posted its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.59 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 analyst estimates of $1.20 billion. During the same period in the prior year, the business posted $1.14 EPS. Deckers Outdoor’s revenue was up 20.1% on a year-over-year basis. On average, sell-side analysts expect that Deckers Outdoor will post 5.49 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.