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

Birkenstock Holding plc (NYSE:BIRK) has been given an average rating of “Moderate Buy” by the seventeen research firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $68.31.

Several research firms have recently issued reports on BIRK. UBS Group lifted their price target on Birkenstock from $83.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. HSBC upgraded shares of Birkenstock from a “hold” rating to a “buy” rating and lifted their target price for the stock from $58.00 to $60.00 in a research report on Tuesday, December 3rd. Hsbc Global Res upgraded shares of Birkenstock to a “strong-buy” rating in a research report on Tuesday, December 3rd. BMO Capital Markets lifted their price objective on Birkenstock from $60.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Finally, Piper Sandler assumed coverage on Birkenstock in a report on Tuesday, December 10th. They set an “overweight” rating and a $65.00 target price on the stock.

Birkenstock Stock Performance

NYSE BIRK opened at $59.25 on Wednesday. The business has a 50 day moving average price of $56.63 and a 200 day moving average price of $53.31. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.60 and a quick ratio of 1.20. The company has a market capitalization of $11.13 billion, a P/E ratio of 54.86, a PEG ratio of 1.22 and a beta of 1.61. Birkenstock has a 1-year low of $41.00 and a 1-year high of $64.78.

Institutional Investors Weigh In On Birkenstock

Several hedge funds have recently modified their holdings of BIRK. Squarepoint Ops LLC purchased a new position in Birkenstock during the second quarter worth approximately $2,188,000. Ghisallo Capital Management LLC raised its position in shares of Birkenstock by 800.0% in the 2nd quarter. Ghisallo Capital Management LLC now owns 900,000 shares of the company’s stock worth $48,969,000 after buying an additional 800,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Birkenstock by 30.4% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,000,000 shares of the company’s stock valued at $163,230,000 after acquiring an additional 700,000 shares during the last quarter. GAMMA Investing LLC grew its position in Birkenstock by 33.7% during the third quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock valued at $44,000 after acquiring an additional 225 shares during the period. Finally, Renaissance Capital LLC grew its position in Birkenstock by 86.8% during the third quarter. Renaissance Capital LLC now owns 42,359 shares of the company’s stock valued at $2,088,000 after acquiring an additional 19,677 shares during the period. 19.93% of the stock is owned by institutional investors and hedge funds.

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.