Birkenstock Holding plc (NYSE:BIRK) Receives Consensus Rating of “Moderate Buy” from Analysts

Birkenstock Holding plc (NYSE:BIRK) has earned an average rating of “Moderate Buy” from the seventeen brokerages that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating on 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 have weighed in on BIRK. HSBC raised shares of Birkenstock from a “hold” rating to a “buy” rating and raised their target price for the stock from $58.00 to $60.00 in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Birkenstock from $65.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, December 19th. BMO Capital Markets lifted their target price on shares of Birkenstock from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Hsbc Global Res upgraded shares of Birkenstock to a “strong-buy” rating in a report on Tuesday, December 3rd. Finally, BTIG Research increased their price objective on Birkenstock from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th.

Birkenstock Price Performance

Birkenstock stock opened at $60.74 on Wednesday. The company has a fifty day simple moving average of $55.80 and a 200-day simple moving average of $53.16. The company has a quick ratio of 1.20, a current ratio of 2.60 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $11.41 billion, a price-to-earnings ratio of 56.24, a PEG ratio of 1.16 and a beta of 1.61. Birkenstock has a 52-week low of $41.00 and a 52-week high of $64.78.

Hedge Funds Weigh In On Birkenstock

Several institutional investors have recently modified their holdings of the business. Renaissance Capital LLC increased its stake in shares of Birkenstock by 94.0% during the fourth quarter. Renaissance Capital LLC now owns 82,190 shares of the company’s stock worth $4,657,000 after buying an additional 39,831 shares during the period. R Squared Ltd acquired a new stake in shares of Birkenstock in the 4th quarter valued at $143,000. Oak Thistle LLC purchased a new stake in shares of Birkenstock during the 4th quarter worth $458,000. Geode Capital Management LLC grew its stake in shares of Birkenstock by 50.5% during the third quarter. Geode Capital Management LLC now owns 188,714 shares of the company’s stock worth $9,302,000 after purchasing an additional 63,289 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Birkenstock in the third quarter valued at $1,536,000. Institutional investors and hedge funds own 19.93% of the company’s stock.

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.