Deckers Outdoor Co. (NYSE:DECK) Short Interest Up 5.7% in June

Deckers Outdoor Co. (NYSE:DECK) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 852,900 shares, a growth of 5.7% from the May 31st total of 807,200 shares. Approximately 3.4% of the shares of the stock are sold short. Based on an average trading volume of 359,800 shares, the days-to-cover ratio is presently 2.4 days.

Deckers Outdoor Trading Down 0.4 %

DECK opened at $936.84 on Thursday. The stock’s 50-day moving average price is $955.68 and its 200 day moving average price is $866.22. Deckers Outdoor has a 12-month low of $484.02 and a 12-month high of $1,106.89. The firm has a market cap of $23.83 billion, a price-to-earnings ratio of 31.98, a PEG ratio of 3.14 and a beta of 1.06.

Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings results on Thursday, May 23rd. The textile maker reported $4.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $2.13. The business had revenue of $959.76 million for the quarter, compared to analysts’ expectations of $892.00 million. Deckers Outdoor had a net margin of 17.69% and a return on equity of 38.85%. The business’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.46 earnings per share. On average, research analysts forecast that Deckers Outdoor will post 30.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on DECK shares. TD Cowen raised their target price on Deckers Outdoor from $1,005.00 to $1,039.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Citigroup raised their price objective on shares of Deckers Outdoor from $835.00 to $920.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 15th. Telsey Advisory Group boosted their target price on shares of Deckers Outdoor from $985.00 to $1,100.00 and gave the company an “outperform” rating in a report on Tuesday, May 28th. BTIG Research raised their price target on shares of Deckers Outdoor from $1,120.00 to $1,200.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Finally, Truist Financial raised shares of Deckers Outdoor from a “hold” rating to a “buy” rating and lifted their price target for the company from $1,011.00 to $1,200.00 in a research report on Tuesday, May 28th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,023.44.

Insider Buying and Selling at Deckers Outdoor

In related news, CEO David Powers sold 5,993 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $824.11, for a total transaction of $4,938,891.23. Following the completion of the sale, the chief executive officer now directly owns 98,218 shares in the company, valued at $80,942,435.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Caroti Stefano sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $1,079.74, for a total transaction of $5,398,700.00. Following the transaction, the insider now directly owns 39,926 shares in the company, valued at approximately $43,109,699.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO David Powers sold 5,993 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $824.11, for a total value of $4,938,891.23. Following the completion of the sale, the chief executive officer now directly owns 98,218 shares of the company’s stock, valued at approximately $80,942,435.98. The disclosure for this sale can be found here. Insiders sold 28,101 shares of company stock valued at $28,858,562 over the last quarter. 0.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Deckers Outdoor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Nova Scotia boosted its holdings in Deckers Outdoor by 19.8% in the third quarter. Bank of Nova Scotia now owns 1,473 shares of the textile maker’s stock valued at $757,000 after purchasing an additional 243 shares during the period. Ameriprise Financial Inc. grew its position in shares of Deckers Outdoor by 12.3% during the third quarter. Ameriprise Financial Inc. now owns 141,402 shares of the textile maker’s stock worth $72,694,000 after buying an additional 15,541 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in shares of Deckers Outdoor by 75.5% during the third quarter. Adage Capital Partners GP L.L.C. now owns 10,355 shares of the textile maker’s stock worth $5,323,000 after buying an additional 4,455 shares during the period. Kennedy Capital Management LLC raised its holdings in Deckers Outdoor by 3.4% in the third quarter. Kennedy Capital Management LLC now owns 4,447 shares of the textile maker’s stock valued at $2,286,000 after acquiring an additional 145 shares in the last quarter. Finally, Seven Eight Capital LP purchased a new position in Deckers Outdoor in the third quarter worth approximately $430,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

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