Analysts Set Birkenstock Holding plc (NYSE:BIRK) Target Price at $68.31

Shares of Birkenstock Holding plc (NYSE:BIRK) have been assigned an average recommendation of “Moderate Buy” from the seventeen ratings firms that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $68.31.

Several research analysts have recently issued reports on the company. HSBC raised Birkenstock from a “hold” rating to a “buy” rating and increased their target price for the stock from $58.00 to $60.00 in a research report on Tuesday, December 3rd. Hsbc Global Res raised Birkenstock to a “strong-buy” rating in a research report on Tuesday, December 3rd. UBS Group boosted their target price on shares of Birkenstock from $83.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Robert W. Baird increased their price target on shares of Birkenstock from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, Piper Sandler assumed coverage on shares of Birkenstock in a research note on Tuesday, December 10th. They set an “overweight” rating and a $65.00 price objective on the stock.

Birkenstock Price Performance

Shares of NYSE BIRK opened at $57.73 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 1.49. Birkenstock has a 1 year low of $41.00 and a 1 year high of $64.78. The company’s 50-day moving average is $52.34 and its 200 day moving average is $52.93. The stock has a market capitalization of $10.84 billion, a P/E ratio of 94.64, a P/E/G ratio of 1.19 and a beta of 1.61.

Institutional Trading of Birkenstock

Institutional investors and hedge funds have recently modified their holdings of the business. Bamco Inc. NY boosted its position in shares of Birkenstock by 2.6% during the third quarter. Bamco Inc. NY now owns 3,102,507 shares of the company’s stock valued at $152,923,000 after buying an additional 78,093 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Birkenstock by 30.4% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,000,000 shares of the company’s stock valued at $163,230,000 after acquiring an additional 700,000 shares during the period. FMR LLC boosted its holdings in shares of Birkenstock by 61.4% during the 3rd quarter. FMR LLC now owns 2,128,689 shares of the company’s stock valued at $104,923,000 after acquiring an additional 809,784 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Birkenstock in the second quarter worth approximately $61,972,000. Finally, Federated Hermes Inc. raised its holdings in shares of Birkenstock by 42.0% during the second quarter. Federated Hermes Inc. now owns 1,071,235 shares of the company’s stock valued at $58,286,000 after purchasing an additional 316,935 shares during the last quarter. Institutional investors 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.