Deckers Outdoor Co. (NYSE:DECK) Short Interest Down 10.1% in October

Deckers Outdoor Co. (NYSE:DECK) was the target of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 4,200,000 shares, a decrease of 10.1% from the October 15th total of 4,670,000 shares. Based on an average daily volume of 1,910,000 shares, the days-to-cover ratio is presently 2.2 days.

Insider Transactions at Deckers Outdoor

In other Deckers Outdoor 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 $58,756,760.24. The trade was a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Steven J. Fasching sold 9,198 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $166.67, for a total value of $1,533,030.66. Following the completion of the transaction, the chief financial officer now directly owns 161,838 shares in the company, valued at $26,973,539.46. The trade was a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 169,110 shares of company stock valued at $8,237,150 over the last three months. 0.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. FMR LLC lifted its holdings in Deckers Outdoor by 499.2% during the 3rd quarter. FMR LLC now owns 22,869,485 shares of the textile maker’s stock worth $3,646,539,000 after purchasing an additional 19,053,113 shares during the last quarter. State Street Corp lifted its holdings in shares of Deckers Outdoor by 513.8% during the third quarter. State Street Corp now owns 6,584,305 shares of the textile maker’s stock worth $1,049,867,000 after buying an additional 5,511,513 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Deckers Outdoor by 509.1% in the third quarter. Geode Capital Management LLC now owns 4,059,919 shares of the textile maker’s stock valued at $646,316,000 after acquiring an additional 3,393,420 shares during the period. Vanguard Group Inc. increased its position in Deckers Outdoor by 18.9% during the first quarter. Vanguard Group Inc. now owns 2,923,154 shares of the textile maker’s stock worth $2,751,448,000 after acquiring an additional 464,020 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Deckers Outdoor by 529.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,277,355 shares of the textile maker’s stock valued at $203,674,000 after buying an additional 1,074,263 shares in the last quarter. 97.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DECK. Wells Fargo & Company upped their price target on Deckers Outdoor from $165.00 to $170.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Barclays boosted their target price on shares of Deckers Outdoor from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Truist Financial upped their price target on shares of Deckers Outdoor from $204.17 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Telsey Advisory Group upped their price target on Deckers Outdoor from $183.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, Piper Sandler set a $166.00 price target on Deckers Outdoor in a research report on Thursday, October 17th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Deckers Outdoor presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.50.

Deckers Outdoor Price Performance

NYSE:DECK traded up $0.16 on Tuesday, hitting $176.61. 855,316 shares of the company’s stock were exchanged, compared to its average volume of 2,232,804. The company has a market cap of $26.83 billion, a P/E ratio of 31.03, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05. The firm has a 50-day moving average price of $148.33 and a 200-day moving average price of $69.15. Deckers Outdoor has a 52 week low of $103.37 and a 52 week high of $184.48.

Deckers Outdoor (NYSE:DECK) last issued its earnings results on Thursday, October 24th. The textile maker reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.35. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Deckers Outdoor had a net margin of 18.95% and a return on equity of 41.48%. Deckers Outdoor’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 EPS. On average, research analysts expect that Deckers Outdoor will post 5.48 earnings per share for the current fiscal 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, apparel, and accessories for ultra-runners and athletes under the HOKA brand name; and sandals, shoes, and boots under the Teva brand name.