Birkenstock Holding plc (NYSE:BIRK) Short Interest Update

Birkenstock Holding plc (NYSE:BIRK) saw a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 4,450,000 shares, a decline of 8.1% from the August 31st total of 4,840,000 shares. Based on an average daily volume of 1,460,000 shares, the days-to-cover ratio is currently 3.0 days. Currently, 7.7% of the shares of the company are short sold.

Birkenstock Price Performance

BIRK traded down $1.33 on Tuesday, hitting $47.96. 1,103,529 shares of the company were exchanged, compared to its average volume of 1,017,746. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 2.91. The business’s fifty day moving average is $54.04 and its 200 day moving average is $51.63. Birkenstock has a fifty-two week low of $35.83 and a fifty-two week high of $64.78. The firm has a market capitalization of $9.01 billion and a P/E ratio of 59.32.

Birkenstock (NYSE:BIRK) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.07). Birkenstock had a net margin of 6.26% and a return on equity of 5.79%. The business had revenue of $564.76 million during the quarter, compared to analysts’ expectations of $628.70 million. As a group, sell-side analysts anticipate that Birkenstock will post 1.37 EPS for the current year.

Institutional Trading of Birkenstock

Several institutional investors and hedge funds have recently modified their holdings of BIRK. GAMMA Investing LLC lifted its stake in shares of Birkenstock by 377.1% during the second quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock valued at $36,000 after buying an additional 528 shares during the period. Banque Cantonale Vaudoise purchased a new position in shares of Birkenstock during the first quarter valued at approximately $40,000. CWM LLC lifted its stake in shares of Birkenstock by 358.2% during the first quarter. CWM LLC now owns 2,181 shares of the company’s stock valued at $103,000 after buying an additional 1,705 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Birkenstock during the second quarter valued at approximately $136,000. Finally, MSA Advisors LLC purchased a new position in shares of Birkenstock during the second quarter valued at approximately $223,000. Hedge funds and other institutional investors own 19.93% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Stifel Nicolaus lifted their price objective on shares of Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $70.00 price objective on shares of Birkenstock in a research note on Thursday, June 13th. Telsey Advisory Group restated an “outperform” rating and issued a $70.00 price objective on shares of Birkenstock in a research note on Tuesday, September 24th. Bank of America upgraded shares of Birkenstock from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $62.00 to $65.00 in a research note on Thursday, July 25th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $60.00 price objective on shares of Birkenstock in a research note on Friday, August 30th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $62.23.

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.