Birkenstock (NYSE:BIRK) Shares Up 3.2% – What’s Next?

Birkenstock Holding plc (NYSE:BIRK) shares were up 3.2% during mid-day trading on Friday . The stock traded as high as $44.52 and last traded at $46.07. Approximately 425,144 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 1,290,357 shares. The stock had previously closed at $44.63.

Wall Street Analyst Weigh In

BIRK has been the topic of several recent analyst reports. UBS Group increased their price objective on shares of Birkenstock from $83.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Birkenstock from $65.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Telsey Advisory Group restated an “outperform” rating and issued a $70.00 price objective on shares of Birkenstock in a report on Thursday, February 20th. BMO Capital Markets increased their target price on Birkenstock from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Finally, BTIG Research boosted their price target on Birkenstock from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $68.31.

Birkenstock Stock Performance

The business’s fifty day moving average is $50.61 and its 200-day moving average is $51.55. The company has a quick ratio of 1.08, a current ratio of 2.84 and a debt-to-equity ratio of 0.48. The company has a market cap of $8.26 billion, a PE ratio of 35.45, a P/E/G ratio of 1.02 and a beta of 1.71.

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

Institutional Trading of Birkenstock

A number of hedge funds and other institutional investors have recently bought and sold shares of BIRK. MetLife Investment Management LLC grew its stake in shares of Birkenstock by 52.2% during the 3rd quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock valued at $34,000 after acquiring an additional 236 shares during the period. Legal & General Group Plc boosted its position in shares of Birkenstock by 12.3% in the fourth quarter. Legal & General Group Plc now owns 3,158 shares of the company’s stock worth $179,000 after purchasing an additional 347 shares during the period. Malaga Cove Capital LLC raised its position in shares of Birkenstock by 3.5% during the 4th quarter. Malaga Cove Capital LLC now owns 12,108 shares of the company’s stock valued at $686,000 after purchasing an additional 407 shares during the period. Signaturefd LLC lifted its stake in shares of Birkenstock by 642.6% during the 4th quarter. Signaturefd LLC now owns 505 shares of the company’s stock valued at $29,000 after buying an additional 437 shares in the last quarter. Finally, Quarry LP bought a new position in Birkenstock in the 3rd quarter worth $25,000. Hedge funds and other institutional investors own 19.93% of the company’s stock.

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.