Birkenstock Holding plc (NYSE:BIRK) Receives $66.40 Consensus PT from Brokerages

Birkenstock Holding plc (NYSE:BIRK) has been assigned an average rating of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $66.40.

A number of equities research analysts have issued reports on BIRK shares. Evercore ISI reaffirmed an “outperform” rating and set a $77.00 price objective (up from $63.00) on shares of Birkenstock in a report on Monday, August 26th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Birkenstock in a report on Tuesday, September 24th. Bank of America raised shares of Birkenstock from a “neutral” rating to a “buy” rating and increased their price objective for the company from $62.00 to $65.00 in a report on Thursday, July 25th. Stifel Nicolaus increased their target price on Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, BTIG Research set a $60.00 target price on Birkenstock and gave the company a “buy” rating in a research report on Friday, October 18th.

Birkenstock Trading Up 1.8 %

Birkenstock stock opened at $45.58 on Friday. The firm has a 50 day moving average of $47.99 and a 200 day moving average of $52.43. The firm has a market capitalization of $8.56 billion and a price-to-earnings ratio of 74.72. Birkenstock has a 12-month low of $41.00 and a 12-month high of $64.78. 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 (NYSE:BIRK) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). Birkenstock had a net margin of 6.26% and a return on equity of 5.79%. The company had revenue of $564.76 million for the quarter, compared to analysts’ expectations of $628.70 million. As a group, research analysts predict that Birkenstock will post 1.37 earnings per share for the current year.

Institutional Trading of Birkenstock

A number of institutional investors have recently bought and sold shares of BIRK. Quarry LP bought a new stake in Birkenstock in the third quarter worth $25,000. MetLife Investment Management LLC lifted its position in Birkenstock by 52.2% in the third quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock worth $34,000 after buying an additional 236 shares during the last quarter. GAMMA Investing LLC lifted its position in Birkenstock by 377.1% in the second quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $36,000 after buying an additional 528 shares during the last quarter. Amalgamated Bank lifted its position in Birkenstock by 51.8% in the third quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock worth $102,000 after buying an additional 707 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Birkenstock in the second quarter worth $136,000. 19.93% of the stock is currently owned by 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.