Birkenstock Holding plc (NYSE:BIRK) Given Average Rating of “Moderate Buy” by Brokerages

Birkenstock Holding plc (NYSE:BIRK) has earned a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are covering the stock, MarketBeat 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 1-year target price among brokers that have updated their coverage on the stock in the last year is $68.31.

Several equities research analysts have recently weighed in on BIRK shares. Telsey Advisory Group reiterated an “outperform” rating and issued a $70.00 price target on shares of Birkenstock in a report on Thursday. Piper Sandler started coverage on Birkenstock in a report on Tuesday, December 10th. They issued an “overweight” rating and a $65.00 price target on the stock. Hsbc Global Res upgraded Birkenstock to a “strong-buy” rating in a report on Tuesday, December 3rd. BMO Capital Markets increased their price objective on Birkenstock from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, Robert W. Baird increased their price objective on Birkenstock from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th.

Hedge Funds Weigh In On Birkenstock

Institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC boosted its holdings in Birkenstock by 370.8% in the 3rd quarter. HighTower Advisors LLC now owns 26,165 shares of the company’s stock worth $1,289,000 after buying an additional 20,607 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Birkenstock in the 3rd quarter worth about $1,323,000. Renaissance Capital LLC boosted its holdings in Birkenstock by 94.0% in the 4th 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 last quarter. FMR LLC boosted its holdings in Birkenstock by 61.4% in the 3rd quarter. FMR LLC now owns 2,128,689 shares of the company’s stock worth $104,923,000 after buying an additional 809,784 shares during the last quarter. Finally, State Street Corp boosted its holdings in Birkenstock by 49.4% in the 3rd quarter. State Street Corp now owns 402,899 shares of the company’s stock worth $19,859,000 after buying an additional 133,212 shares during the last quarter. Hedge funds and other institutional investors own 19.93% of the company’s stock.

Birkenstock Stock Performance

NYSE BIRK opened at $51.82 on Friday. 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 cap of $9.73 billion, a price-to-earnings ratio of 41.79, a price-to-earnings-growth ratio of 1.07 and a beta of 1.61. Birkenstock has a twelve month low of $41.00 and a twelve month high of $64.78. The business has a 50-day moving average price of $57.54 and a 200-day moving average price of $53.23.

Birkenstock (NYSE:BIRK) last posted its earnings results on Thursday, February 20th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Birkenstock had a return on equity of 9.61% and a net margin of 11.73%. The company had revenue of $385.88 million for the quarter, compared to the consensus estimate of $355.80 million. As a group, equities research analysts predict that Birkenstock will post 1.77 EPS for the current fiscal year.

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.