Deckers Outdoor Corp (NYSE:DECK) shares up 15.1% to trade at $114.97 at last check, after the company reported a fiscal third-quarter beat with earnings per share of $3.33 and revenue of $1.96 billion. The footwear giant also lifted it annual sales and profit forecasts. No fewer than eight analysts chimed in with price-target hikes, including one from UBS to $161 to $157.
The brokerage bunch leans bearish on Deckers stock, with 16 of the 26 analysts rating it a "hold" or worse. Meanwhile the 12-month consensus price target stands at $124.15, which is 7.6% above current levels.
The security is trading at its highest level since September after spending more than a month holding firm near support around the $97 level. Even though the shares are pacing for its best single-day percentage gain since October 2023, they are still down roughly 11% over the past nine months.
Drilling down to today's options activity, 8,000 calls have crossed the tape -- 10 times the volume typically seen at this point -- compared to 8,430 puts. The most active contract by far is the expiring weekly 1/30 115-strike call, where new positions are being opened.
What's more, DECK's Schaeffer's Volatility Scorecard (SVS) sits at a high 99 out of 100, indicating it has tended to exceed option traders' volatility expectations in the past year.
