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

Birkenstock Holding plc (NYSE:BIRK) has earned a consensus recommendation of “Moderate Buy” from the nineteen ratings firms that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $62.23.

BIRK has been the topic of a number of research reports. Bank of America upgraded shares of Birkenstock from a “neutral” rating to a “buy” rating and upped their target price for the company from $62.00 to $65.00 in a research report on Thursday, July 25th. Morgan Stanley increased their price objective on shares of Birkenstock from $44.00 to $58.00 and gave the company an “equal weight” rating in a report on Tuesday, June 25th. The Goldman Sachs Group lowered shares of Birkenstock from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $54.20 to $58.00 in a report on Wednesday, June 12th. Robert W. Baird increased their price target on Birkenstock from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Finally, JPMorgan Chase & Co. lifted their price objective on Birkenstock from $56.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, June 3rd.

Birkenstock Stock Performance

BIRK stock opened at $49.35 on Thursday. The company has a 50 day moving average price of $54.34 and a 200 day moving average price of $51.54. Birkenstock has a fifty-two week low of $35.83 and a fifty-two week 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 stock has a market capitalization of $9.27 billion and a PE ratio of 56.94.

Birkenstock (NYSE:BIRK) last released its earnings results on Thursday, August 29th. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). Birkenstock had a return on equity of 5.79% and a net margin of 6.26%. The firm had revenue of $564.76 million for the quarter, compared to the consensus estimate of $628.70 million. Analysts forecast that Birkenstock will post 1.37 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake in shares of Birkenstock by 377.1% in the 2nd quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock valued at $36,000 after purchasing an additional 528 shares during the period. Banque Cantonale Vaudoise bought a new position in shares of Birkenstock during the first quarter worth about $40,000. CWM LLC raised its position in Birkenstock by 358.2% in the 1st quarter. CWM LLC now owns 2,181 shares of the company’s stock valued at $103,000 after buying an additional 1,705 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Birkenstock in the 2nd quarter valued at approximately $136,000. Finally, MSA Advisors LLC acquired a new position in Birkenstock during the 2nd quarter worth approximately $223,000. Institutional investors own 19.93% of the company’s stock.

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.