Birkenstock (NYSE:BIRK) Sets New 12-Month High at $61.83

Shares of Birkenstock Holding plc (NYSE:BIRK) reached a new 52-week high on Thursday . The stock traded as high as $61.83 and last traded at $61.63, with a volume of 174741 shares traded. The stock had previously closed at $60.11.

Analysts Set New Price Targets

BIRK has been the topic of several analyst reports. UBS Group increased their target price on Birkenstock from $51.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. Piper Sandler upped their price objective on shares of Birkenstock from $56.50 to $61.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. upped their price objective on shares of Birkenstock from $56.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, June 3rd. Evercore ISI upped their price objective on shares of Birkenstock from $54.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Finally, Robert W. Baird upped their price objective on shares of Birkenstock from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Birkenstock currently has a consensus rating of “Moderate Buy” and an average target price of $56.62.

Birkenstock Price Performance

The company has a 50 day moving average price of $49.47 and a 200-day moving average price of $48.25. The company has a quick ratio of 1.13, a current ratio of 2.87 and a debt-to-equity ratio of 0.56.

Birkenstock (NYSE:BIRK) last released its quarterly earnings data on Thursday, May 30th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.09. The firm had revenue of $522.51 million during the quarter, compared to analyst estimates of $499.98 million. On average, sell-side analysts predict that Birkenstock Holding plc will post 1.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BIRK. Banque Cantonale Vaudoise acquired a new stake in Birkenstock during the 1st quarter valued at approximately $40,000. Tower Research Capital LLC TRC bought a new position in shares of Birkenstock during the 4th quarter worth approximately $77,000. Venturi Wealth Management LLC bought a new position in shares of Birkenstock during the 4th quarter worth approximately $83,000. CWM LLC boosted its holdings in shares of Birkenstock by 358.2% during the 1st quarter. CWM LLC now owns 2,181 shares of the company’s stock worth $103,000 after buying an additional 1,705 shares in the last quarter. Finally, Connable Office Inc. bought a new position in shares of Birkenstock during the 4th quarter worth approximately $216,000. Institutional investors and hedge funds own 19.93% of the company’s stock.

About Birkenstock

Birkenstock Holding plc manufactures and sells footwear products. It also offers sandals, shoes, closed-toe silhouettes, skincare products, and accessories. The company sells its products through e-commerce sites and a network of owned retail stores, as well as business-to-business channels. It operates in the United States, Brazil, Canada, Mexico, Europe, APMA, and internationally.