Birkenstock Holding plc (NYSE:BIRK) Given Average Rating of “Moderate Buy” by Brokerages

Birkenstock Holding plc (NYSE:BIRK) has earned an average recommendation of “Moderate Buy” from the seventeen ratings firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $66.13.

A number of analysts recently weighed in on BIRK shares. HSBC raised shares of Birkenstock from a “hold” rating to a “buy” rating and upped their price objective for the stock from $58.00 to $60.00 in a research note on Tuesday, December 3rd. Piper Sandler assumed coverage on shares of Birkenstock in a research note on Tuesday, December 10th. They set an “overweight” rating and a $65.00 price objective on the stock. Evercore ISI reissued an “outperform” rating and issued a $77.00 price objective (up previously from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. Stifel Nicolaus upped their target price on Birkenstock from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Hsbc Global Res upgraded Birkenstock to a “strong-buy” rating in a report on Tuesday, December 3rd.

Institutional Investors Weigh In On Birkenstock

A number of large investors have recently modified their holdings of BIRK. Federated Hermes Inc. grew its holdings in shares of Birkenstock by 42.0% during the second quarter. Federated Hermes Inc. now owns 1,071,235 shares of the company’s stock valued at $58,286,000 after buying an additional 316,935 shares during the last quarter. Renaissance Technologies LLC grew its stake in Birkenstock by 128.8% during the 2nd quarter. Renaissance Technologies LLC now owns 124,000 shares of the company’s stock valued at $6,747,000 after purchasing an additional 69,800 shares during the last quarter. Element Capital Management LLC acquired a new position in shares of Birkenstock in the second quarter valued at about $6,325,000. Bradley Foster & Sargent Inc. CT purchased a new position in shares of Birkenstock in the second quarter worth about $849,000. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Birkenstock during the second quarter worth about $602,000. Hedge funds and other institutional investors own 19.93% of the company’s stock.

Birkenstock Price Performance

Shares of BIRK stock opened at $55.06 on Tuesday. The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of 90.26, a P/E/G ratio of 1.19 and a beta of 2.22. The company has a current ratio of 2.91, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. Birkenstock has a twelve month low of $41.00 and a twelve month high of $64.78. The stock has a fifty day simple moving average of $49.31 and a two-hundred day simple moving average of $53.01.

Birkenstock Company Profile

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.