Brokerages Set Birkenstock Holding plc (NYSE:BIRK) PT at $68.31

Shares of Birkenstock Holding plc (NYSE:BIRK) have earned a consensus recommendation of “Moderate Buy” from the seventeen research firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $68.31.

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price target on Birkenstock from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. BTIG Research boosted their target price on Birkenstock from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Piper Sandler started coverage on shares of Birkenstock in a research note on Tuesday, December 10th. They issued an “overweight” rating and a $65.00 price target on the stock. Telsey Advisory Group restated an “outperform” rating and set a $70.00 price objective on shares of Birkenstock in a research report on Thursday, February 20th. Finally, Hsbc Global Res raised shares of Birkenstock to a “strong-buy” rating in a research report on Tuesday, December 3rd.

Birkenstock Stock Performance

Shares of Birkenstock stock opened at $46.90 on Thursday. The business has a 50-day simple moving average of $52.46 and a 200-day simple moving average of $51.56. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 2.84. Birkenstock has a one year low of $41.00 and a one year high of $64.78. The company has a market cap of $8.81 billion, a PE ratio of 37.82, a P/E/G ratio of 1.02 and a beta of 1.90.

Birkenstock (NYSE:BIRK) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.16 by $0.03. The company had revenue of $385.88 million during the quarter, compared to analysts’ expectations of $355.80 million. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. On average, equities research analysts forecast that Birkenstock will post 1.77 EPS for the current fiscal year.

Institutional Trading of Birkenstock

A number of hedge funds have recently added to or reduced their stakes in BIRK. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Birkenstock by 170.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,538 shares of the company’s stock valued at $4,110,000 after purchasing an additional 45,700 shares during the period. Woodline Partners LP increased its stake in Birkenstock by 129.7% in the 4th quarter. Woodline Partners LP now owns 191,219 shares of the company’s stock valued at $10,834,000 after buying an additional 107,981 shares during the period. Tairen Capital Ltd acquired a new position in Birkenstock in the 4th quarter valued at $1,133,000. ThornTree Capital Partners LP purchased a new position in Birkenstock during the 4th quarter worth $19,506,000. Finally, Shellback Capital LP lifted its stake in shares of Birkenstock by 26.1% in the 4th quarter. Shellback Capital LP now owns 120,700 shares of the company’s stock worth $6,839,000 after acquiring an additional 25,000 shares during the period. 19.93% of the stock is owned by institutional investors and hedge funds.

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.