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 seventeen research firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $68.31.

A number of research firms recently issued reports on BIRK. Telsey Advisory Group reiterated an “outperform” rating and set a $70.00 target price on shares of Birkenstock in a research report on Thursday, December 19th. Hsbc Global Res raised Birkenstock to a “strong-buy” rating in a research report on Tuesday, December 3rd. Piper Sandler initiated coverage on Birkenstock in a research note on Tuesday, December 10th. They issued an “overweight” rating and a $65.00 target price on the stock. HSBC raised Birkenstock from a “hold” rating to a “buy” rating and raised their price target for the stock from $58.00 to $60.00 in a report on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Birkenstock from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th.

Institutional Investors Weigh In On Birkenstock

Several institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in shares of Birkenstock by 33.7% during the third quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock valued at $44,000 after purchasing an additional 225 shares during the last quarter. MetLife Investment Management LLC boosted 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 worth $34,000 after acquiring an additional 236 shares during the last quarter. Quarry LP purchased a new stake in Birkenstock in the third quarter worth about $25,000. Amalgamated Bank lifted its holdings in 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 purchasing an additional 707 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its position in shares of Birkenstock by 58.8% in the third quarter. Venturi Wealth Management LLC now owns 6,670 shares of the company’s stock valued at $329,000 after acquiring an additional 2,470 shares in the last quarter. 19.93% of the stock is owned by hedge funds and other institutional investors.

Birkenstock Trading Down 1.7 %

BIRK opened at $56.29 on Friday. The stock has a market cap of $10.57 billion, a PE ratio of 92.28, a price-to-earnings-growth ratio of 1.19 and a beta of 2.22. 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 company has a fifty day moving average of $51.74 and a 200-day moving average of $53.05. Birkenstock has a twelve month low of $41.00 and a twelve month high of $64.78.

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.