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

Birkenstock Holding plc (NYSE:BIRK) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $68.31.

BIRK has been the topic of a number of analyst reports. BTIG Research increased their price objective on Birkenstock from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Hsbc Global Res raised Birkenstock to a “strong-buy” rating in a research note on Tuesday, December 3rd. Piper Sandler initiated coverage on Birkenstock in a research report on Tuesday, December 10th. They set an “overweight” rating and a $65.00 target price on the stock. Robert W. Baird increased their target price on Birkenstock from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Finally, BMO Capital Markets increased their target price on Birkenstock from $60.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th.

Birkenstock Stock Up 5.5 %

BIRK opened at $46.08 on Thursday. 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 firm has a market cap of $8.66 billion, a P/E ratio of 37.16, a PEG ratio of 1.02 and a beta of 1.90. Birkenstock has a 52 week low of $41.00 and a 52 week high of $64.78. The business’s fifty day simple moving average is $53.54 and its 200 day simple moving average is $51.62.

Birkenstock (NYSE:BIRK) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The business had revenue of $385.88 million for the quarter, compared to analyst estimates of $355.80 million. Birkenstock had a return on equity of 9.52% and a net margin of 11.73%. As a group, equities research analysts anticipate that Birkenstock will post 1.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Birkenstock

A number of hedge funds have recently made changes to their positions in BIRK. Norges Bank acquired a new position in shares of Birkenstock during the fourth quarter worth about $131,786,000. FMR LLC lifted its stake in shares of Birkenstock by 61.4% during the third quarter. FMR LLC now owns 2,128,689 shares of the company’s stock worth $104,923,000 after purchasing an additional 809,784 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Birkenstock by 260.5% during the fourth quarter. Marshall Wace LLP now owns 1,100,692 shares of the company’s stock worth $62,365,000 after purchasing an additional 795,382 shares in the last quarter. AGF Management Ltd. acquired a new position in shares of Birkenstock during the fourth quarter worth about $37,153,000. Finally, AXA S.A. acquired a new position in shares of Birkenstock during the fourth quarter worth about $29,050,000. 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.