Birkenstock Holding plc (NYSE:BIRK) Receives $60.29 Consensus Target Price from Brokerages

Shares of Birkenstock Holding plc (NYSE:BIRK) have received a consensus recommendation of “Moderate Buy” from the nineteen analysts that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $60.29.

BIRK has been the subject of several analyst reports. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $56.00 price objective on shares of Birkenstock in a report on Thursday, May 30th. BMO Capital Markets boosted their price target on Birkenstock from $54.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Bank of America raised Birkenstock from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $62.00 to $65.00 in a report on Thursday, July 25th. Stifel Nicolaus boosted their price objective on Birkenstock from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, Morgan Stanley upped their price target on Birkenstock from $44.00 to $58.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 25th.

Birkenstock Stock Up 2.0 %

NYSE:BIRK opened at $58.47 on Wednesday. The stock has a 50 day simple moving average of $57.08 and a 200 day simple moving average of $50.49. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.87 and a quick ratio of 1.13. Birkenstock has a 1-year low of $35.83 and a 1-year high of $61.83.

Birkenstock (NYSE:BIRK) last released its quarterly earnings results on Thursday, May 30th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.09. The firm had revenue of $522.51 million for the quarter, compared to analyst estimates of $499.98 million. As a group, research analysts expect that Birkenstock will post 1.37 earnings per share for the current fiscal year.

Institutional Trading of Birkenstock

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in shares of Birkenstock by 377.1% in the second quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $36,000 after purchasing an additional 528 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Birkenstock in the first quarter valued at approximately $40,000. CWM LLC grew its holdings in shares of Birkenstock by 358.2% in the first quarter. CWM LLC now owns 2,181 shares of the company’s stock valued at $103,000 after acquiring an additional 1,705 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Birkenstock in the second quarter valued at approximately $136,000. Finally, Venturi Wealth Management LLC grew its holdings in shares of Birkenstock by 123.5% in the first quarter. Venturi Wealth Management LLC now owns 3,800 shares of the company’s stock valued at $180,000 after acquiring an additional 2,100 shares in the last quarter. 19.93% of the stock is owned by hedge funds and other institutional investors.

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.