Birkenstock Holding plc (NYSE:BIRK) Short Interest Update

Birkenstock Holding plc (NYSE:BIRK) saw a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 4,450,000 shares, a drop of 8.1% from the August 31st total of 4,840,000 shares. Approximately 7.7% of the company’s shares are sold short. Based on an average daily volume of 1,460,000 shares, the short-interest ratio is currently 3.0 days.

Birkenstock Stock Down 2.7 %

BIRK traded down $1.33 during trading on Tuesday, hitting $47.96. The company had a trading volume of 1,103,529 shares, compared to its average volume of 1,017,746. Birkenstock has a 1-year low of $35.83 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 company has a market cap of $9.01 billion and a PE ratio of 59.32. The business has a 50-day moving average of $54.04 and a 200-day moving average of $51.63.

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

Analysts Set New Price Targets

BIRK has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $70.00 price target on shares of Birkenstock in a research note on Thursday, June 13th. Bank of America raised shares of Birkenstock from a “neutral” rating to a “buy” rating and increased their price objective for the stock 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 stock an “equal weight” rating in a research report on Tuesday, June 25th. Citigroup started coverage on shares of Birkenstock in a research report on Monday, July 1st. They issued a “buy” rating and a $65.00 price objective for the company. Finally, Evercore ISI reissued an “outperform” rating and issued a $77.00 price objective (up previously from $63.00) on shares of Birkenstock in a research report on Monday, August 26th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Birkenstock has a consensus rating of “Moderate Buy” and a consensus price target of $62.23.

Institutional Inflows and Outflows

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