Birkenstock (NYSE:BIRK) Sees Unusually-High Trading Volume

Shares of Birkenstock Holding plc (NYSE:BIRK) saw an uptick in trading volume on Thursday . 1,651,555 shares traded hands during trading, an increase of 111% from the previous session’s volume of 783,648 shares.The stock last traded at $54.08 and had previously closed at $54.61.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BIRK shares. Piper Sandler lifted their price target on Birkenstock from $56.50 to $61.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Evercore ISI boosted their price target on Birkenstock from $54.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, May 31st. Telsey Advisory Group reiterated an “outperform” rating and issued a $56.00 price target on shares of Birkenstock in a report on Thursday, May 30th. BNP Paribas started coverage on Birkenstock in a report on Thursday, June 20th. They issued an “outperform” rating and a $68.00 price target for the company. Finally, Morgan Stanley boosted their price target on Birkenstock from $44.00 to $58.00 and gave the company an “equal weight” rating in a report on Tuesday. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Birkenstock has a consensus rating of “Moderate Buy” and a consensus price target of $57.56.

Birkenstock Stock Up 0.1 %

The company has a quick ratio of 1.13, a current ratio of 2.87 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average price of $51.56 and a two-hundred day moving average price of $48.71.

Birkenstock (NYSE:BIRK) last announced its quarterly earnings data on Thursday, May 30th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.09. The firm had revenue of $522.51 million during the quarter, compared to analyst estimates of $499.98 million. Equities analysts anticipate that Birkenstock Holding plc will post 1.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Birkenstock

Several hedge funds have recently modified their holdings of BIRK. Venturi Wealth Management LLC purchased a new stake in shares of Birkenstock during the fourth quarter valued at $83,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Birkenstock during the fourth quarter valued at $1,886,000. Federated Hermes Inc. purchased a new stake in shares of Birkenstock during the fourth quarter valued at $27,152,000. New York State Common Retirement Fund acquired a new position in Birkenstock during the fourth quarter valued at $1,067,000. Finally, Amalgamated Bank acquired a new position in Birkenstock during the fourth quarter valued at $233,000. 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.