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

Deckers Outdoor Co. (NYSE:DECK) was the recipient of a large growth in short interest in September. As of September 15th, there was short interest totalling 5,540,000 shares, a growth of 554.4% from the August 31st total of 846,600 shares. Based on an average daily volume of 2,090,000 shares, the short-interest ratio is currently 2.7 days.

Deckers Outdoor Price Performance

Shares of NYSE DECK traded up $1.97 during midday trading on Friday, reaching $159.23. 557,132 shares of the stock were exchanged, compared to its average volume of 2,272,040. Deckers Outdoor has a 12 month low of $80.67 and a 12 month high of $184.48. The business has a 50-day simple moving average of $48.59 and a two-hundred day simple moving average of $33.65. The company has a market capitalization of $4.05 billion, a price-to-earnings ratio of 5.37, a P/E/G ratio of 2.74 and a beta of 1.05.

Deckers Outdoor (NYSE:DECK) last released its quarterly earnings data on Thursday, July 25th. The textile maker reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.03. The company 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%. The firm’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.07 earnings per share. Equities research analysts expect that Deckers Outdoor will post 5.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director David Powers sold 140,832 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now owns 2,450,808 shares of the company’s stock, valued at approximately $58,756,760.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Deckers Outdoor by 1,559.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,100 shares of the textile maker’s stock valued at $3,969,000 after purchasing an additional 3,853 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Deckers Outdoor in the 2nd quarter worth about $5,052,000. Kestra Investment Management LLC purchased a new stake in Deckers Outdoor in the second quarter worth about $662,000. Clearbridge Investments LLC purchased a new stake in shares of Deckers Outdoor during the second quarter valued at about $1,381,000. Finally, New Century Financial Group LLC raised its stake in Deckers Outdoor by 91.0% in the second quarter. New Century Financial Group LLC now owns 892 shares of the textile maker’s stock valued at $863,000 after buying an additional 425 shares during the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on DECK shares. Wells Fargo & Company decreased their target price on Deckers Outdoor from $1,000.00 to $165.00 and set an “equal weight” rating for the company in a research note on Monday. StockNews.com lowered Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Truist Financial increased their price objective on shares of Deckers Outdoor from $33.33 to $34.03 and gave the stock a “buy” rating in a research 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 for the company in a research note on Tuesday, September 17th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $27.78 price target on shares of Deckers Outdoor in a report on Friday, August 23rd. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Deckers Outdoor presently has an average rating of “Moderate Buy” and an average price target of $54.99.

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.