Deckers Outdoor Co. (NYSE:DECK) Short Interest Update

Deckers Outdoor Co. (NYSE:DECK) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 846,600 shares, a drop of 10.0% from the August 15th total of 940,700 shares. Based on an average daily volume of 349,000 shares, the short-interest ratio is currently 2.4 days. Currently, 3.4% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on DECK shares. Telsey Advisory Group restated an “outperform” rating and set a $30.56 price objective on shares of Deckers Outdoor in a research report on Friday, July 26th. Bank of America boosted their price target on Deckers Outdoor from $23.89 to $28.33 and gave the company a “neutral” rating in a research note on Friday, May 24th. UBS Group increased their price objective on Deckers Outdoor from $35.14 to $37.50 and gave the stock a “buy” rating in a research report on Friday, July 26th. StockNews.com raised shares of Deckers Outdoor from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $27.78 price target on shares of Deckers Outdoor in a research report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $37.06.

Deckers Outdoor Price Performance

DECK stock traded down $0.83 during trading on Thursday, reaching $156.40. 367,787 shares of the company were exchanged, compared to its average volume of 2,276,573. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 5.37, a P/E/G ratio of 2.66 and a beta of 1.05. The company has a 50-day moving average of $33.11 and a two-hundred day moving average of $28.31. Deckers Outdoor has a twelve month low of $80.67 and a twelve month high of $184.48.

Deckers Outdoor (NYSE:DECK) last announced its quarterly earnings results on Thursday, July 25th. The textile maker reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.03. Deckers Outdoor had a net margin of 18.45% and a return on equity of 40.52%. The company had revenue of $825.30 million during the quarter, compared to the consensus estimate of $808.40 million. During the same period in the prior year, the business earned $0.07 earnings per share. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, analysts forecast that Deckers Outdoor will post 31.6 EPS for the current year.

Insider Buying and Selling

In related news, Director David Powers sold 140,832 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $23.97, for a total value of $3,376,368.96. Following the sale, the director now owns 2,450,808 shares in the company, valued at approximately $58,756,760.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Deckers Outdoor

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Deckers Outdoor by 18.9% in the first quarter. Vanguard Group Inc. now owns 2,923,154 shares of the textile maker’s stock worth $2,751,448,000 after acquiring an additional 464,020 shares during the period. TD Asset Management Inc raised its stake in Deckers Outdoor by 191.1% during the fourth quarter. TD Asset Management Inc now owns 305,949 shares of the textile maker’s stock worth $204,505,000 after buying an additional 200,850 shares during the last quarter. Norges Bank acquired a new position in Deckers Outdoor in the fourth quarter valued at $196,814,000. Millennium Management LLC boosted its position in Deckers Outdoor by 231.2% during the second quarter. Millennium Management LLC now owns 233,810 shares of the textile maker’s stock valued at $226,316,000 after acquiring an additional 163,210 shares during the last quarter. Finally, Epoch Investment Partners Inc. grew its holdings in Deckers Outdoor by 90.4% during the 4th quarter. Epoch Investment Partners Inc. now owns 216,709 shares of the textile maker’s stock worth $144,855,000 after acquiring an additional 102,882 shares during the period. 97.79% of the stock is currently owned by institutional investors and hedge funds.

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 and apparel for ultra-runners and athletes under the Hoka brand; and sandals, shoes, and boots under the Teva brand name.