Birkenstock Holding plc (NYSE:BIRK) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Birkenstock Holding plc (NYSE:BIRK) have been assigned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $66.40.

BIRK has been the topic of a number of research reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $60.00 price target on shares of Birkenstock in a research note on Friday, August 30th. Stifel Nicolaus upped their price target on Birkenstock from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Bank of America raised Birkenstock from a “neutral” rating to a “buy” rating and upped their price target for the stock from $62.00 to $65.00 in a research note on Thursday, July 25th. Evercore ISI reissued an “outperform” rating and issued a $77.00 price objective (up from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $70.00 price objective on shares of Birkenstock in a research note on Tuesday, September 24th.

Institutional Investors Weigh In On Birkenstock

Hedge funds have recently added to or reduced their stakes in the company. MetLife Investment Management LLC lifted its stake in shares of Birkenstock by 52.2% in 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 last quarter. GAMMA Investing LLC lifted 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 valued at $36,000 after acquiring an additional 528 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Birkenstock by 51.8% in the 3rd quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock valued at $102,000 after acquiring an additional 707 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Birkenstock in the 2nd quarter valued at about $136,000. Finally, MSA Advisors LLC bought a new stake in shares of Birkenstock in the 2nd quarter valued at about $223,000. Institutional investors own 19.93% of the company’s stock.

Birkenstock Price Performance

Shares of BIRK opened at $44.79 on Friday. Birkenstock has a 12-month low of $39.20 and a 12-month high of $64.78. The business has a 50-day simple moving average of $47.99 and a two-hundred day simple moving average of $52.31. 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 cap of $8.41 billion and a PE ratio of 73.43.

Birkenstock (NYSE:BIRK) last released its quarterly 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 net margin of 6.26% and a return on equity of 5.79%. The company had revenue of $564.76 million during the quarter, compared to the consensus estimate of $628.70 million. Analysts anticipate that Birkenstock will post 1.39 earnings per share for the current fiscal year.

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.