Roubaix Capital LLC Purchases New Position in Birkenstock Holding plc (NYSE:BIRK)

Roubaix Capital LLC acquired a new position in Birkenstock Holding plc (NYSE:BIRK) during the third quarter, HoldingsChannel reports. The institutional investor acquired 91,370 shares of the company’s stock, valued at approximately $4,504,000. Birkenstock comprises about 2.5% of Roubaix Capital LLC’s portfolio, making the stock its 15th biggest position.

Several other hedge funds have also modified their holdings of BIRK. GAMMA Investing LLC raised its position in shares of Birkenstock by 33.7% during the 3rd quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock valued at $44,000 after buying an additional 225 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Birkenstock during the second quarter valued at approximately $136,000. MSA Advisors LLC bought a new stake in shares of Birkenstock in the 2nd quarter valued at approximately $223,000. Renaissance Capital LLC boosted its holdings in shares of Birkenstock by 36.5% in the 2nd quarter. Renaissance Capital LLC now owns 22,682 shares of the company’s stock worth $1,234,000 after purchasing an additional 6,068 shares during the period. Finally, Alpha DNA Investment Management LLC bought a new position in shares of Birkenstock during the 2nd quarter valued at approximately $365,000. 19.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BIRK has been the subject of a number of analyst reports. BMO Capital Markets restated an “outperform” rating and issued a $60.00 price target on shares of Birkenstock in a research report on Friday, August 30th. Telsey Advisory Group reissued an “outperform” rating and issued a $70.00 price objective on shares of Birkenstock in a research report on Tuesday, September 24th. BTIG Research set a $60.00 target price on Birkenstock and gave the company a “buy” rating in a research report on Friday, October 18th. Stifel Nicolaus increased their price target on Birkenstock from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Bank of America raised Birkenstock from a “neutral” rating to a “buy” rating and raised their price target for the stock from $62.00 to $65.00 in a research note on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Birkenstock currently has a consensus rating of “Moderate Buy” and an average target price of $62.11.

Birkenstock Price Performance

Shares of BIRK opened at $46.75 on Thursday. 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 company has a 50 day moving average price of $50.00 and a 200-day moving average price of $52.18. Birkenstock Holding plc has a fifty-two week low of $37.98 and a fifty-two week high of $64.78. The stock has a market capitalization of $8.78 billion and a PE ratio of 76.64.

Birkenstock (NYSE:BIRK) last posted its earnings results on Thursday, August 29th. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). Birkenstock had a return on equity of 5.79% and a net margin of 6.26%. The company had revenue of $564.76 million for the quarter, compared to analysts’ expectations of $628.70 million. Equities analysts predict that Birkenstock Holding plc will post 1.39 earnings per share for the current fiscal year.

Birkenstock 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.