The Duckhorn Portfolio, Inc. (NYSE:NAPA) Short Interest Update

The Duckhorn Portfolio, Inc. (NYSE:NAPA) saw a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 5,670,000 shares, a decline of 35.2% from the September 30th total of 8,750,000 shares. Based on an average daily trading volume, of 2,350,000 shares, the days-to-cover ratio is currently 2.4 days. Currently, 13.1% of the shares of the company are sold short.

Duckhorn Portfolio Price Performance

NYSE:NAPA traded up $0.01 during trading hours on Tuesday, hitting $10.97. 1,337,814 shares of the company’s stock traded hands, compared to its average volume of 1,433,062. Duckhorn Portfolio has a 52 week low of $5.38 and a 52 week high of $11.08. The business’s fifty day simple moving average is $7.67 and its two-hundred day simple moving average is $7.58. The company has a quick ratio of 1.33, a current ratio of 8.05 and a debt-to-equity ratio of 0.24. The firm has a market cap of $1.61 billion, a P/E ratio of 23.34, a P/E/G ratio of 9.44 and a beta of 0.21.

Duckhorn Portfolio (NYSE:NAPA) last issued its quarterly earnings results on Monday, October 7th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.04. The firm had revenue of $107.40 million during the quarter, compared to the consensus estimate of $104.76 million. Duckhorn Portfolio had a return on equity of 6.24% and a net margin of 13.81%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the company posted $0.14 EPS. On average, research analysts anticipate that Duckhorn Portfolio will post 0.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

NAPA has been the subject of a number of research reports. Barclays increased their target price on shares of Duckhorn Portfolio from $6.00 to $11.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Royal Bank of Canada downgraded Duckhorn Portfolio from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $11.00 to $11.10 in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $10.30.

Hedge Funds Weigh In On Duckhorn Portfolio

A number of hedge funds and other institutional investors have recently bought and sold shares of NAPA. DekaBank Deutsche Girozentrale bought a new position in shares of Duckhorn Portfolio during the 3rd quarter valued at about $31,000. Simon Quick Advisors LLC bought a new position in Duckhorn Portfolio during the second quarter valued at approximately $85,000. Canada Pension Plan Investment Board purchased a new position in shares of Duckhorn Portfolio during the second quarter worth approximately $101,000. Bayesian Capital Management LP purchased a new position in shares of Duckhorn Portfolio during the first quarter worth approximately $133,000. Finally, Bleakley Financial Group LLC bought a new stake in shares of Duckhorn Portfolio in the 1st quarter worth approximately $136,000.

Duckhorn Portfolio Company Profile

The Duckhorn Portfolio, Inc produces and sells wines in North America. The company offers wines under a portfolio of brands, including Duckhorn Vineyards, Decoy, Goldeneye, Paraduxx, Migration, Canvasback, Calera, Kosta Browne, Greenwing, and Postmark. It sells wines to distributors, and directly to retail accounts and consumers.