Deckers Outdoor Corporation (NYSE:DECK) Sees Significant Growth in Short Interest

Deckers Outdoor Corporation (NYSE:DECK) was the recipient of a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 3,851,247 shares, an increase of 26.7% from the January 29th total of 3,040,684 shares. Currently, 2.7% of the shares of the stock are sold short. Based on an average daily volume of 2,849,512 shares, the days-to-cover ratio is currently 1.4 days. Based on an average daily volume of 2,849,512 shares, the days-to-cover ratio is currently 1.4 days. Currently, 2.7% of the shares of the stock are sold short.

Deckers Outdoor Trading Down 1.0%

DECK stock traded down $1.13 during midday trading on Wednesday, hitting $108.74. The company had a trading volume of 1,682,838 shares, compared to its average volume of 2,188,054. The stock has a market cap of $15.43 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 2.51 and a beta of 1.15. Deckers Outdoor has a 52 week low of $78.91 and a 52 week high of $137.50. The stock’s 50 day moving average price is $108.91 and its 200 day moving average price is $103.21.

Deckers Outdoor (NYSE:DECK) last issued its earnings results on Thursday, January 29th. The textile maker reported $3.33 EPS for the quarter, topping the consensus estimate of $2.77 by $0.56. Deckers Outdoor had a net margin of 19.46% and a return on equity of 41.60%. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the firm earned $3.00 earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. Analysts predict that Deckers Outdoor will post 5.89 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Robin Spring-Green sold 347 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $113.78, for a total value of $39,481.66. Following the sale, the insider owned 42,461 shares in the company, valued at approximately $4,831,212.58. This trade represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lauri M. Shanahan sold 4,682 shares of the business’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $114.84, for a total value of $537,680.88. Following the transaction, the director owned 25,026 shares of the company’s stock, valued at approximately $2,873,985.84. The trade was a 15.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 9,092 shares of company stock worth $1,048,552. Corporate insiders own 0.40% of the company’s stock.

Institutional Trading of Deckers Outdoor

Several large investors have recently modified their holdings of DECK. Rakuten Securities Inc. lifted its holdings in Deckers Outdoor by 45.5% in the 2nd quarter. Rakuten Securities Inc. now owns 320 shares of the textile maker’s stock worth $33,000 after buying an additional 100 shares during the period. Perigon Wealth Management LLC raised its holdings in shares of Deckers Outdoor by 4.3% during the third quarter. Perigon Wealth Management LLC now owns 2,597 shares of the textile maker’s stock valued at $263,000 after acquiring an additional 106 shares in the last quarter. American National Bank & Trust raised its holdings in shares of Deckers Outdoor by 77.4% during the third quarter. American National Bank & Trust now owns 243 shares of the textile maker’s stock valued at $25,000 after acquiring an additional 106 shares in the last quarter. RB Capital Management LLC lifted its stake in Deckers Outdoor by 1.0% in the third quarter. RB Capital Management LLC now owns 10,679 shares of the textile maker’s stock worth $1,083,000 after acquiring an additional 110 shares during the period. Finally, Miracle Mile Advisors LLC boosted its holdings in Deckers Outdoor by 2.3% in the third quarter. Miracle Mile Advisors LLC now owns 4,990 shares of the textile maker’s stock valued at $506,000 after acquiring an additional 112 shares in the last quarter. 97.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on DECK shares. Sanford C. Bernstein set a $90.00 price objective on shares of Deckers Outdoor in a research report on Friday, January 30th. Zacks Research raised shares of Deckers Outdoor from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $120.00 price target (up from $105.00) on shares of Deckers Outdoor in a research note on Monday, January 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Deckers Outdoor in a report on Wednesday, January 21st. Finally, UBS Group reissued a “buy” rating and set a $161.00 price objective (up from $157.00) on shares of Deckers Outdoor in a report on Friday, January 30th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Deckers Outdoor has a consensus rating of “Moderate Buy” and an average price target of $125.20.

About Deckers Outdoor

Deckers Outdoor Corporation is a global designer, marketer and distributor of footwear, apparel and accessories. The company’s product portfolio includes well?known brands such as UGG, HOKA, Teva, Sanuk and Koolaburra by UGG, spanning a range of lifestyle, performance and outdoor categories. Deckers leverages a blend of proprietary manufacturing, strategic brand storytelling and direct?to?consumer retail to serve both fashion?focused and performance?oriented customers.

Founded in 1973 by Doug Otto and Karl F.