Birkenstock (NYSE:BIRK) Reaches New 12-Month High – Should You Buy?

Birkenstock Holding plc (NYSE:BIRK)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $59.77 and last traded at $59.29, with a volume of 21824 shares. The stock had previously closed at $59.29.

Analysts Set New Price Targets

BIRK has been the topic of several analyst reports. Evercore ISI reiterated an “outperform” rating and issued a $77.00 target price (up previously from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. Telsey Advisory Group reiterated an “outperform” rating and set a $70.00 price objective on shares of Birkenstock in a research note on Tuesday, September 24th. BTIG Research set a $60.00 target price on shares of Birkenstock and gave the company a “buy” rating in a research note on Friday, October 18th. Bank of America upgraded 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. Finally, BMO Capital Markets restated an “outperform” rating and set a $60.00 target price on shares of Birkenstock in a research note on Friday, August 30th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Birkenstock has an average rating of “Moderate Buy” and a consensus target price of $62.11.

Birkenstock Stock Up 0.6 %

The company has a market cap of $8.72 billion and a PE ratio of 75.64. The business has a 50-day simple moving average of $49.00 and a 200-day simple moving average of $52.33. The company has a quick ratio of 1.49, a current ratio of 2.91 and a debt-to-equity ratio of 0.55.

Birkenstock (NYSE:BIRK) last released its earnings results 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 company had revenue of $564.76 million for the quarter, compared to analysts’ expectations of $628.70 million. Equities research analysts anticipate that Birkenstock Holding plc will post 1.39 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BIRK. GSA Capital Partners LLP raised its holdings in shares of Birkenstock by 109.0% during the 3rd quarter. GSA Capital Partners LLP now owns 27,051 shares of the company’s stock worth $1,333,000 after acquiring an additional 14,108 shares during the period. Venturi Wealth Management LLC boosted its holdings in Birkenstock by 58.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 6,670 shares of the company’s stock valued at $329,000 after purchasing an additional 2,470 shares during the last quarter. Malaga Cove Capital LLC grew its stake in shares of Birkenstock by 168.9% in the 3rd quarter. Malaga Cove Capital LLC now owns 11,701 shares of the company’s stock valued at $577,000 after buying an additional 7,350 shares during the period. Amalgamated Bank raised its position in shares of Birkenstock by 51.8% during the 3rd quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock valued at $102,000 after buying an additional 707 shares during the period. Finally, Roubaix Capital LLC acquired a new position in Birkenstock in the third quarter valued at approximately $4,504,000. 19.93% of the stock is owned by hedge funds and other institutional investors.

Birkenstock Company Profile

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.