Birkenstock Holding plc (NYSE:BIRK) Short Interest Update

Birkenstock Holding plc (NYSE:BIRK) was the target of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 4,450,000 shares, a decrease of 8.1% from the August 31st total of 4,840,000 shares. Currently, 7.7% of the shares of the company are short sold. Based on an average daily trading volume, of 1,460,000 shares, the short-interest ratio is currently 3.0 days.

Wall Street Analyst Weigh In

A number of analysts have commented on BIRK shares. Morgan Stanley upped their target price on shares of Birkenstock from $44.00 to $58.00 and gave the company an “equal weight” rating in a report on Tuesday, June 25th. Evercore ISI reaffirmed an “outperform” rating and set a $77.00 target price (up from $63.00) on shares of Birkenstock in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $70.00 target price on shares of Birkenstock in a report on Thursday, June 13th. Stifel Nicolaus raised their price objective on shares of Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, BNP Paribas assumed coverage on shares of Birkenstock in a research report on Thursday, June 20th. They set an “outperform” rating and a $68.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.23.

Birkenstock Price Performance

NYSE BIRK traded down $1.33 on Tuesday, reaching $47.96. The company had a trading volume of 1,103,529 shares, compared to its average volume of 1,017,746. The company has a quick ratio of 1.49, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $9.01 billion and a PE ratio of 59.32. The firm’s 50 day moving average price is $53.89 and its 200 day moving average price is $51.63. Birkenstock has a 12 month low of $35.83 and a 12 month high of $64.78.

Birkenstock (NYSE:BIRK) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). Birkenstock had a return on equity of 5.79% and a net margin of 6.26%. The business had revenue of $564.76 million during the quarter, compared to analysts’ expectations of $628.70 million. As a group, equities analysts predict that Birkenstock will post 1.37 earnings per share for the current year.

Hedge Funds Weigh In On Birkenstock

A number of institutional investors and hedge funds have recently made changes to their positions in BIRK. GAMMA Investing LLC grew its stake in shares of Birkenstock by 377.1% in the 2nd quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $36,000 after buying an additional 528 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Birkenstock during the 1st quarter worth about $40,000. CWM LLC boosted its stake 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 purchasing an additional 1,705 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Birkenstock during the 2nd quarter worth about $136,000. Finally, MSA Advisors LLC purchased a new position in shares of Birkenstock during the 2nd quarter worth about $223,000. 19.93% of the stock is owned by hedge funds and other institutional investors.

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.