Birkenstock (NYSE:BIRK) Shares Gap Up to $54.41

Birkenstock Holding plc (NYSE:BIRK) shares gapped up prior to trading on Monday . The stock had previously closed at $54.41, but opened at $56.65. Birkenstock shares last traded at $55.05, with a volume of 343,903 shares changing hands.

Wall Street Analyst Weigh In

BIRK has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $70.00 price target on shares of Birkenstock in a research report on Thursday, June 13th. Evercore ISI boosted their target price on shares of Birkenstock from $54.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Bank of America increased their price target on shares of Birkenstock from $54.00 to $62.00 and gave the stock a “neutral” rating in a research report on Friday, May 31st. The Goldman Sachs Group lowered Birkenstock from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $54.20 to $58.00 in a report on Wednesday, June 12th. Finally, Citigroup began coverage on Birkenstock in a report on Monday. They set a “buy” rating and a $65.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Birkenstock presently has an average rating of “Moderate Buy” and a consensus price target of $60.12.

Birkenstock Trading Up 2.5 %

The company has a current ratio of 2.87, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $51.56 and a 200-day moving average price of $48.71.

Birkenstock (NYSE:BIRK) last posted its quarterly earnings data on Thursday, May 30th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.09. The company had revenue of $522.51 million for the quarter, compared to analyst estimates of $499.98 million. Equities research analysts predict that Birkenstock Holding plc will post 1.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Birkenstock

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BIRK. Blackstone Inc. purchased a new position in Birkenstock during the 4th quarter valued at about $3,411,000. Ghisallo Capital Management LLC purchased a new position in Birkenstock during the fourth quarter valued at approximately $4,873,000. Capital International Ltd. CA acquired a new position in Birkenstock in the 4th quarter valued at approximately $1,909,000. New York State Common Retirement Fund purchased a new stake in Birkenstock in the 4th quarter worth approximately $1,067,000. Finally, Treasurer of the State of North Carolina acquired a new stake in shares of Birkenstock during the 4th quarter valued at $643,000. Institutional investors and hedge funds 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.