Birkenstock Target of Unusually High Options Trading (NYSE:BIRK)

Birkenstock Holding plc (NYSE:BIRK) saw some unusual options trading activity on Wednesday. Investors bought 2,895 call options on the stock. This represents an increase of approximately 47% compared to the average volume of 1,973 call options.

Institutional Investors Weigh In On Birkenstock

Several hedge funds have recently modified their holdings of the stock. HighTower Advisors LLC lifted its position in shares of Birkenstock by 370.8% in the 3rd quarter. HighTower Advisors LLC now owns 26,165 shares of the company’s stock valued at $1,289,000 after acquiring an additional 20,607 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Birkenstock in the third quarter valued at $1,323,000. Federated Hermes Inc. boosted its position in shares of Birkenstock by 42.0% in the second quarter. Federated Hermes Inc. now owns 1,071,235 shares of the company’s stock worth $58,286,000 after buying an additional 316,935 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Birkenstock by 128.8% during the second quarter. Renaissance Technologies LLC now owns 124,000 shares of the company’s stock valued at $6,747,000 after buying an additional 69,800 shares in the last quarter. Finally, Element Capital Management LLC acquired a new position in Birkenstock during the second quarter valued at $6,325,000. 19.93% of the stock is owned by hedge funds and other institutional investors.

Birkenstock Stock Performance

BIRK opened at $57.59 on Friday. The company has a quick ratio of 1.49, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. The firm has a market cap of $10.82 billion, a PE ratio of 94.41, a P/E/G ratio of 1.19 and a beta of 2.22. The business has a fifty day simple moving average of $49.97 and a 200-day simple moving average of $53.08. Birkenstock has a fifty-two week low of $41.00 and a fifty-two week high of $64.78.

Analysts Set New Price Targets

Several analysts have weighed in on the company. HSBC raised Birkenstock from a “hold” rating to a “buy” rating and lifted their target price for the company from $58.00 to $60.00 in a research note on Tuesday, December 3rd. Evercore ISI restated an “outperform” rating and set a $77.00 price objective (up from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. Stifel Nicolaus increased their target price on shares of Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Telsey Advisory Group restated an “outperform” rating and set a $70.00 price target on shares of Birkenstock in a research report on Thursday. Finally, BTIG Research increased their price objective on shares of Birkenstock from $60.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Birkenstock currently has an average rating of “Moderate Buy” and an average target price of $68.31.

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.