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

Deckers Outdoor Co. (NYSE:DECK) was the target of a large 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 daily volume of 1,910,000 shares, the short-interest ratio is currently 2.2 days.

Insider Transactions at Deckers Outdoor

In other news, CFO Steven J. Fasching sold 8,802 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $175.00, for a total value of $1,540,350.00. Following the sale, the chief financial officer now directly owns 153,036 shares of the company’s stock, valued at approximately $26,781,300. This represents a 5.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Angela Ogbechie sold 1,278 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $163.24, for a total transaction of $208,620.72. Following the completion of the transaction, the insider now owns 29,628 shares in the company, valued at $4,836,474.72. This trade represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 169,110 shares of company stock worth $8,237,150 in the last three months. Insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Deckers Outdoor

Large investors have recently modified their holdings of the stock. Solstein Capital LLC grew its holdings in shares of Deckers Outdoor by 500.0% during the 3rd 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 Deckers Outdoor by 460.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 28 shares of the textile maker’s stock valued at $27,000 after buying an additional 23 shares during the last quarter. Bell Investment Advisors Inc raised its stake in Deckers Outdoor by 521.4% during the 3rd quarter. Bell Investment Advisors Inc now owns 174 shares of the textile maker’s stock valued at $28,000 after purchasing an additional 146 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in shares of Deckers Outdoor by 2,000.0% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 210 shares of the textile maker’s stock worth $32,000 after acquiring an additional 200 shares during the period. Finally, Crewe Advisors LLC bought a new stake in Deckers Outdoor in the 2nd quarter valued at $34,000. 97.79% of the stock is owned by institutional investors.

Deckers Outdoor Trading Down 0.1 %

Shares of Deckers Outdoor stock traded down $0.18 during trading hours on Tuesday, reaching $176.27. The stock had a trading volume of 988,972 shares, compared to its average volume of 2,233,571. The firm has a 50 day simple moving average of $148.33 and a two-hundred day simple moving average of $69.15. The firm has a market capitalization of $26.78 billion, a price-to-earnings ratio of 31.06, a P/E/G ratio of 2.47 and a beta of 1.05. Deckers Outdoor has a 1 year low of $103.37 and a 1 year high of $184.48.

Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings results 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 net margin of 18.95% and a return on equity of 41.48%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the company posted $1.14 earnings per share. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. Sell-side analysts forecast that Deckers Outdoor will post 5.48 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Seaport Res Ptn downgraded shares of Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a report on Monday, October 7th. Piper Sandler set a $166.00 target price on shares of Deckers Outdoor in a report on Thursday, October 17th. Robert W. Baird boosted their target price on shares of Deckers Outdoor from $180.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, October 25th. UBS Group raised their price objective 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. Finally, Truist Financial increased their target price on Deckers Outdoor from $204.17 to $205.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Deckers Outdoor has an average rating of “Moderate Buy” and an average target price of $149.50.

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.