Short Interest in Deckers Outdoor Co. (NYSE:DECK) Drops 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. 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 stock are short sold.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Stifel Nicolaus reduced their price objective on shares of Deckers Outdoor from $887.00 to $147.83 and set a “hold” rating on the stock in a research report on Tuesday. Robert W. Baird increased their price objective on shares of Deckers Outdoor from $29.17 to $29.86 and gave the stock an “outperform” rating in a research report on Friday, July 26th. BTIG Research increased their price objective on shares of Deckers Outdoor from $31.11 to $33.33 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Piper Sandler reissued a “neutral” rating and issued a $27.78 price objective on shares of Deckers Outdoor in a research report on Friday, August 23rd. Finally, UBS Group raised their target price on shares of Deckers Outdoor from $35.14 to $37.50 and gave the stock a “buy” rating in a research report on Friday, July 26th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $37.06.

Deckers Outdoor Trading Down 83.4 %

Shares of NYSE DECK traded down $782.43 during midday trading on Tuesday, reaching $155.25. The company had a trading volume of 1,036,036 shares, compared to its average volume of 2,292,328. The business’s 50-day simple moving average is $30.47 and its 200 day simple moving average is $27.41. The stock has a market cap of $3.95 billion, a P/E ratio of 5.30, a P/E/G ratio of 2.66 and a beta of 1.05. Deckers Outdoor has a 1 year low of $80.67 and a 1 year high of $184.48.

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

Insider Buying and Selling at Deckers Outdoor

In other news, Director David Powers sold 140,832 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $23.97, for a total transaction of $3,376,368.96. Following the sale, the director now directly owns 2,450,808 shares in the company, valued at approximately $58,756,760.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Chevy Chase Trust Holdings LLC increased its holdings in Deckers Outdoor by 285.2% in the first quarter. Chevy Chase Trust Holdings LLC now owns 17,853 shares of the textile maker’s stock valued at $16,804,000 after buying an additional 13,218 shares in the last quarter. Cim LLC purchased a new position in Deckers Outdoor in the fourth quarter valued at $2,311,000. Artisan Partners Limited Partnership increased its holdings in Deckers Outdoor by 7.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 152,626 shares of the textile maker’s stock valued at $102,020,000 after buying an additional 11,159 shares in the last quarter. Monument Capital Management increased its holdings in Deckers Outdoor by 39.7% in the first quarter. Monument Capital Management now owns 3,030 shares of the textile maker’s stock valued at $2,852,000 after buying an additional 861 shares in the last quarter. Finally, Leo Wealth LLC purchased a new position in Deckers Outdoor in the fourth quarter valued at $1,344,000. 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.