Birkenstock Holding plc (NYSE:BIRK) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Birkenstock Holding plc (NYSE:BIRK) have earned a consensus rating of “Moderate Buy” from the seventeen brokerages that are currently covering the firm, Marketbeat reports. Two investment 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 price objective among brokers that have updated their coverage on the stock in the last year is $68.31.

BIRK has been the topic of a number of research analyst reports. Hsbc Global Res upgraded shares of Birkenstock to a “strong-buy” rating in a report on Tuesday, December 3rd. BTIG Research increased 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. BMO Capital Markets increased their price objective on shares of Birkenstock from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft lifted their target price on Birkenstock from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, HSBC raised Birkenstock from a “hold” rating to a “buy” rating and boosted their price objective for the company from $58.00 to $60.00 in a report on Tuesday, December 3rd.

Hedge Funds Weigh In On Birkenstock

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP acquired a new position in shares of Birkenstock during the third quarter worth about $25,000. MetLife Investment Management LLC raised its position in Birkenstock by 52.2% in the 3rd quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock valued at $34,000 after purchasing an additional 236 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Birkenstock by 33.7% during the third quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock worth $44,000 after buying an additional 225 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Birkenstock by 51.8% during the third quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock worth $102,000 after purchasing an additional 707 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in Birkenstock during the 2nd quarter worth approximately $136,000. 19.93% of the stock is currently owned by hedge funds and other institutional investors.

Birkenstock Stock Performance

Birkenstock stock opened at $56.29 on Friday. The company’s 50-day moving average is $51.74 and its 200 day moving average is $53.05. Birkenstock has a 1-year low of $41.00 and a 1-year high of $64.78. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 1.49. The firm has a market capitalization of $10.57 billion, a P/E ratio of 92.28, a price-to-earnings-growth ratio of 1.19 and a beta of 2.22.

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.