Brokerages Set Birkenstock Holding plc (NYSE:BIRK) Price Target at $62.11

Birkenstock Holding plc (NYSE:BIRK) has been assigned an average recommendation of “Moderate Buy” from the twenty ratings firms that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $62.11.

A number of research firms have weighed in on BIRK. Evercore ISI reissued an “outperform” rating and set a $77.00 target price (up from $63.00) on shares of Birkenstock in a report on Monday, August 26th. UBS Group upgraded Birkenstock from a “neutral” rating to a “buy” rating and increased their price objective for the company from $52.00 to $85.00 in a report on Monday, July 1st. BMO Capital Markets reaffirmed an “outperform” rating and set a $60.00 target price on shares of Birkenstock in a report on Friday, August 30th. Telsey Advisory Group reissued an “outperform” rating and issued a $70.00 price target on shares of Birkenstock in a research note on Tuesday, September 24th. Finally, Citigroup assumed coverage on Birkenstock in a research note on Monday, July 1st. They issued a “buy” rating and a $65.00 price objective on the stock.

Birkenstock Stock Down 0.2 %

Shares of BIRK opened at $49.40 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 2.91. Birkenstock has a 52 week low of $37.60 and a 52 week high of $64.78. The stock has a market capitalization of $9.28 billion and a price-to-earnings ratio of 80.98. The stock has a fifty day moving average of $50.87 and a 200-day moving average of $52.15.

Birkenstock (NYSE:BIRK) last posted its earnings results on Thursday, August 29th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). The firm had revenue of $564.76 million during the quarter, compared to the consensus estimate of $628.70 million. Birkenstock had a net margin of 6.26% and a return on equity of 5.79%. As a group, sell-side analysts anticipate that Birkenstock will post 1.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in Birkenstock by 33.7% in the third quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock valued at $44,000 after acquiring an additional 225 shares during the period. Banque Cantonale Vaudoise acquired a new stake in Birkenstock in the 1st quarter valued at $40,000. CWM LLC increased its stake in Birkenstock by 358.2% during the 1st quarter. CWM LLC now owns 2,181 shares of the company’s stock valued at $103,000 after purchasing an additional 1,705 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Birkenstock during the second quarter worth $136,000. Finally, MSA Advisors LLC bought a new position in shares of Birkenstock in the second quarter valued at $223,000. 19.93% of the stock is owned by institutional investors and hedge funds.

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.