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

Birkenstock Holding plc (NYSE:BIRK)’s stock price gapped up before the market opened 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 traded.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Birkenstock from $56.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, June 3rd. BMO Capital Markets boosted their price target on Birkenstock from $54.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, May 31st. Bank of America boosted their price target on Birkenstock from $54.00 to $62.00 and gave the company a “neutral” rating in a report on Friday, May 31st. Robert W. Baird upped their price objective on Birkenstock from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Finally, Telsey Advisory Group restated an “outperform” rating and set a $56.00 price objective on shares of Birkenstock in a report on Thursday, May 30th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $60.12.

Birkenstock Price Performance

The company has a debt-to-equity ratio of 0.56, a current ratio of 2.87 and a quick ratio of 1.13. The business’s 50-day simple moving average is $52.00 and its two-hundred day simple moving average is $48.80.

Birkenstock (NYSE:BIRK) last posted its quarterly earnings data on Thursday, May 30th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. The firm had revenue of $522.51 million during the quarter, compared to analysts’ expectations of $499.98 million. As a group, sell-side analysts expect that Birkenstock Holding plc will post 1.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Birkenstock

Several large investors have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Birkenstock during the fourth quarter worth about $458,539,000. Norges Bank acquired a new stake in Birkenstock during the fourth quarter worth about $177,068,000. Bamco Inc. NY raised its stake in Birkenstock by 1.4% during the first quarter. Bamco Inc. NY now owns 2,974,458 shares of the company’s stock worth $140,543,000 after acquiring an additional 40,457 shares during the period. Capital World Investors raised its stake in Birkenstock by 1.0% during the first quarter. Capital World Investors now owns 1,469,369 shares of the company’s stock worth $69,428,000 after acquiring an additional 14,089 shares during the period. Finally, Federated Hermes Inc. acquired a new stake in Birkenstock during the fourth quarter worth about $27,152,000. Institutional investors 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.