Short Interest in Deckers Outdoor Co. (NYSE:DECK) Decreases By 10.0%

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

Insider Activity

In other news, Director David Powers sold 140,832 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $23.97, for a total transaction of $3,376,368.96. Following the transaction, the director now owns 2,450,808 shares of the company’s stock, valued at approximately $58,756,760.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Deckers Outdoor

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC bought a new position in Deckers Outdoor in the 2nd quarter valued at $5,052,000. Kestra Investment Management LLC bought a new stake in shares of Deckers Outdoor during the second quarter worth $662,000. Clearbridge Investments LLC bought a new stake in shares of Deckers Outdoor during the second quarter worth $1,381,000. New Century Financial Group LLC raised its position in shares of Deckers Outdoor by 91.0% during the second quarter. New Century Financial Group LLC now owns 892 shares of the textile maker’s stock worth $863,000 after acquiring an additional 425 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in shares of Deckers Outdoor by 20.6% during the second quarter. Cetera Investment Advisers now owns 6,119 shares of the textile maker’s stock worth $5,923,000 after acquiring an additional 1,044 shares during the last quarter. Institutional investors own 97.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DECK shares. Piper Sandler reissued a “neutral” rating and set a $27.78 price objective on shares of Deckers Outdoor in a report on Friday, August 23rd. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $30.56 target price on shares of Deckers Outdoor in a report on Friday, July 26th. Stifel Nicolaus lowered their target price on Deckers Outdoor from $887.00 to $147.83 and set a “hold” rating on the stock in a report on Tuesday. Truist Financial raised their target price on Deckers Outdoor from $33.33 to $34.03 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, KeyCorp raised their target price on Deckers Outdoor from $26.67 to $28.19 and gave the company an “overweight” rating in a report on Friday, May 24th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Deckers Outdoor currently has an average rating of “Moderate Buy” and an average price target of $37.06.

Deckers Outdoor Price Performance

Shares of Deckers Outdoor stock traded up $2.13 during midday trading on Wednesday, hitting $157.23. 1,363,259 shares of the company were exchanged, compared to its average volume of 2,287,177. The firm has a market cap of $4.00 billion, a P/E ratio of 5.37, a PEG ratio of 2.66 and a beta of 1.05. Deckers Outdoor has a 52 week low of $80.67 and a 52 week high of $184.48. The firm has a 50 day simple moving average of $33.11 and a 200-day simple moving average of $28.31.

Deckers Outdoor (NYSE:DECK) last posted its earnings results on Thursday, July 25th. The textile maker reported $0.13 EPS for the quarter, topping the consensus estimate of $0.10 by $0.03. The business had revenue of $825.30 million during the quarter, compared to the consensus estimate of $808.40 million. Deckers Outdoor had a return on equity of 40.52% and a net margin of 18.45%. Deckers Outdoor’s revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the company earned $0.07 EPS. Equities research analysts expect that Deckers Outdoor will post 31.6 earnings per share for the current 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 and apparel for ultra-runners and athletes under the Hoka brand; and sandals, shoes, and boots under the Teva brand name.