Birkenstock Holding plc (NYSE:BIRK) Receives $68.31 Average Target Price from Analysts

Shares of Birkenstock Holding plc (NYSE:BIRK) have earned an average recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $68.31.

BIRK has been the topic of a number of recent analyst reports. UBS Group raised their price target on Birkenstock from $83.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Piper Sandler initiated coverage on Birkenstock in a research report on Tuesday, December 10th. They set an “overweight” rating and a $65.00 price objective for the company. BTIG Research raised their target price on shares of Birkenstock from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft upped their price objective on Birkenstock from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, HSBC raised Birkenstock from a “hold” rating to a “buy” rating and raised their target price for the stock from $58.00 to $60.00 in a research report on Tuesday, December 3rd.

Birkenstock Stock Performance

NYSE BIRK opened at $59.25 on Wednesday. Birkenstock has a 12-month low of $41.00 and a 12-month high of $64.78. The firm has a 50-day moving average price of $56.63 and a two-hundred day moving average price of $53.29. The company has a market capitalization of $11.13 billion, a P/E ratio of 54.86, a P/E/G ratio of 1.22 and a beta of 1.61. The company has a quick ratio of 1.20, a current ratio of 2.60 and a debt-to-equity ratio of 0.50.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its stake in 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 acquiring an additional 225 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Birkenstock by 52.2% during the third quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock valued at $34,000 after purchasing an additional 236 shares in the last quarter. Quarry LP purchased a new position in Birkenstock during the third quarter worth about $25,000. Venturi Wealth Management LLC boosted its holdings in Birkenstock by 9.3% during the fourth quarter. Venturi Wealth Management LLC now owns 7,292 shares of the company’s stock worth $413,000 after purchasing an additional 622 shares during the last quarter. Finally, Amalgamated Bank grew its position in Birkenstock by 51.8% in the 3rd quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock worth $102,000 after purchasing an additional 707 shares in the last quarter. Hedge funds and other institutional investors own 19.93% of the company’s stock.

About Birkenstock

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.