Birkenstock Holding plc (NYSE:BIRK) Receives $68.31 Average Target Price from Analysts

Birkenstock Holding plc (NYSE:BIRK) has been given an average rating of “Moderate Buy” by the seventeen ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $68.31.

Several equities analysts have commented on the company. Robert W. Baird upped their price objective on Birkenstock from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Birkenstock from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Hsbc Global Res upgraded shares of Birkenstock to a “strong-buy” rating in a report on Tuesday, December 3rd. HSBC raised shares of Birkenstock from a “hold” rating to a “buy” rating and boosted their price objective for the company from $58.00 to $60.00 in a research report on Tuesday, December 3rd. Finally, Piper Sandler began coverage on shares of Birkenstock in a research report on Tuesday, December 10th. They set an “overweight” rating and a $65.00 target price on the stock.

Birkenstock Trading Up 4.8 %

Shares of BIRK opened at $47.43 on Thursday. The company’s fifty day simple moving average is $52.87 and its 200-day simple moving average is $51.58. The company has a market cap of $8.91 billion, a P/E ratio of 38.25, a P/E/G ratio of 1.02 and a beta of 1.90. The company has a current ratio of 2.84, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48. Birkenstock has a twelve month low of $41.00 and a twelve month high of $64.78.

Birkenstock (NYSE:BIRK) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. The company had revenue of $385.88 million for the quarter, compared to analyst estimates of $355.80 million. As a group, analysts expect that Birkenstock will post 1.77 EPS for the current year.

Institutional Trading of Birkenstock

Several hedge funds have recently modified their holdings of the company. HighTower Advisors LLC boosted its position in shares of Birkenstock by 370.8% in the 3rd quarter. HighTower Advisors LLC now owns 26,165 shares of the company’s stock worth $1,289,000 after purchasing an additional 20,607 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Birkenstock in the third quarter worth about $1,323,000. Renaissance Capital LLC grew its stake in shares of Birkenstock by 94.0% during the fourth quarter. Renaissance Capital LLC now owns 82,190 shares of the company’s stock worth $4,657,000 after acquiring an additional 39,831 shares during the last quarter. FMR LLC increased its holdings in shares of Birkenstock by 61.4% during the third quarter. FMR LLC now owns 2,128,689 shares of the company’s stock valued at $104,923,000 after acquiring an additional 809,784 shares in the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Birkenstock in the 4th quarter valued at approximately $606,000. 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.