Birkenstock Holding plc (NYSE:BIRK) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Birkenstock Holding plc (NYSE:BIRK) have earned a consensus rating of “Moderate Buy” from the seventeen research firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $66.00.

BIRK has been the topic of several research analyst reports. Stifel Nicolaus raised their price objective on shares of Birkenstock from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Hsbc Global Res raised Birkenstock to a “strong-buy” rating in a report on Tuesday, December 3rd. Evercore ISI reiterated an “outperform” rating and issued a $77.00 price objective (up previously from $63.00) on shares of Birkenstock in a research report on Monday, August 26th. HSBC raised Birkenstock from a “hold” rating to a “buy” rating and upped their price objective for the stock from $58.00 to $60.00 in a report on Tuesday, December 3rd. Finally, BTIG Research set a $60.00 price target on Birkenstock and gave the company a “buy” rating in a research note on Friday, October 18th.

Birkenstock Stock Performance

NYSE:BIRK opened at $54.31 on Tuesday. The firm has a market capitalization of $10.20 billion, a PE ratio of 89.03, a PEG ratio of 1.16 and a beta of 2.22. 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 has a 1 year low of $41.00 and a 1 year high of $64.78. The firm’s fifty day simple moving average is $48.80 and its 200 day simple moving average is $52.88.

Hedge Funds Weigh In On Birkenstock

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in shares of Birkenstock by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock worth $44,000 after buying an additional 225 shares during the last quarter. MetLife Investment Management LLC raised its stake in 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 period. Quarry LP bought a new stake in Birkenstock in the 3rd quarter valued at about $25,000. Amalgamated Bank increased its position in shares of Birkenstock by 51.8% during the third 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, Venturi Wealth Management LLC increased its position in shares of Birkenstock by 58.8% during the third quarter. Venturi Wealth Management LLC now owns 6,670 shares of the company’s stock valued at $329,000 after buying an additional 2,470 shares during the period. 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.