Deckers Outdoor Co. (NYSE:DECK) Sees Large Drop in Short Interest

Deckers Outdoor Co. (NYSE:DECK) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 909,600 shares, a decrease of 14.2% from the March 15th total of 1,060,000 shares. Based on an average daily volume of 438,600 shares, the days-to-cover ratio is currently 2.1 days. Approximately 3.6% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wedbush reiterated an “outperform” rating and issued a $1,000.00 price target on shares of Deckers Outdoor in a research note on Wednesday, April 10th. KeyCorp assumed coverage on shares of Deckers Outdoor in a research note on Wednesday, February 7th. They issued an “overweight” rating and a $960.00 price target for the company. UBS Group increased their price target on shares of Deckers Outdoor from $950.00 to $1,150.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Barclays assumed coverage on shares of Deckers Outdoor in a research note on Monday, April 1st. They issued an “overweight” rating and a $1,110.00 price target for the company. Finally, Piper Sandler increased their price target on shares of Deckers Outdoor from $650.00 to $730.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $870.93.

Deckers Outdoor Stock Performance

NYSE:DECK opened at $815.38 on Tuesday. Deckers Outdoor has a 52 week low of $424.36 and a 52 week high of $956.17. The firm has a market cap of $20.93 billion, a price-to-earnings ratio of 29.33, a P/E/G ratio of 1.44 and a beta of 1.01. The firm’s 50-day simple moving average is $886.73 and its 200 day simple moving average is $730.11.

Deckers Outdoor (NYSE:DECK) last released its quarterly earnings results on Thursday, February 1st. The textile maker reported $15.11 EPS for the quarter, topping analysts’ consensus estimates of $11.40 by $3.71. Deckers Outdoor had a net margin of 17.57% and a return on equity of 38.77%. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the firm earned $10.48 earnings per share. Deckers Outdoor’s revenue for the quarter was up 16.0% compared to the same quarter last year. Sell-side analysts anticipate that Deckers Outdoor will post 26.87 EPS for the current year.

Insider Buying and Selling

In related news, Director Lauri M. Shanahan sold 3,672 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $832.22, for a total transaction of $3,055,911.84. Following the completion of the transaction, the director now owns 4,515 shares in the company, valued at $3,757,473.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Angela Ogbechie sold 313 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $844.13, for a total transaction of $264,212.69. Following the completion of the transaction, the insider now owns 4,027 shares in the company, valued at $3,399,311.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauri M. Shanahan sold 3,672 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $832.22, for a total transaction of $3,055,911.84. Following the transaction, the director now owns 4,515 shares of the company’s stock, valued at approximately $3,757,473.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,471 shares of company stock worth $21,290,792. 0.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Deckers Outdoor

Several hedge funds have recently bought and sold shares of DECK. HighTower Advisors LLC increased its holdings in Deckers Outdoor by 13.7% in the 1st quarter. HighTower Advisors LLC now owns 3,294 shares of the textile maker’s stock valued at $902,000 after buying an additional 398 shares during the period. Great West Life Assurance Co. Can increased its holdings in Deckers Outdoor by 7.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 15,156 shares of the textile maker’s stock valued at $4,272,000 after buying an additional 1,001 shares during the period. Vontobel Holding Ltd. bought a new position in Deckers Outdoor in the 1st quarter valued at about $882,000. Sei Investments Co. increased its holdings in Deckers Outdoor by 53.1% in the 1st quarter. Sei Investments Co. now owns 35,845 shares of the textile maker’s stock valued at $9,811,000 after buying an additional 12,439 shares during the period. Finally, Aviva PLC boosted its stake in shares of Deckers Outdoor by 24.9% in the 1st quarter. Aviva PLC now owns 8,020 shares of the textile maker’s stock valued at $2,196,000 after purchasing an additional 1,597 shares in the last quarter. 97.79% of the stock is owned by institutional investors.

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.