Birkenstock Holding plc (NYSE:BIRK) Receives $62.11 Consensus Target Price from Brokerages

Shares of Birkenstock Holding plc (NYSE:BIRK) have earned a consensus rating of “Moderate Buy” from the twenty research firms that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $62.11.

Several brokerages have recently issued reports on BIRK. Stifel Nicolaus upped their price objective on Birkenstock from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. BMO Capital Markets restated an “outperform” rating and set a $60.00 price target on shares of Birkenstock in a report on Friday, August 30th. Bank of America raised shares of Birkenstock from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $62.00 to $65.00 in a research note on Thursday, July 25th. 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 note on Monday, August 26th. Finally, BTIG Research set a $60.00 price target on Birkenstock and gave the stock a “buy” rating in a report on Friday, October 18th.

Birkenstock Stock Performance

NYSE:BIRK opened at $49.40 on Monday. The stock has a 50-day moving average price of $50.87 and a 200 day moving average price of $52.04. The company has a current ratio of 2.91, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. Birkenstock has a 12-month low of $37.60 and a 12-month high of $64.78. The stock has a market capitalization of $9.28 billion and a P/E ratio of 80.98.

Birkenstock (NYSE:BIRK) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.07). Birkenstock had a net margin of 6.26% and a return on equity of 5.79%. The company had revenue of $564.76 million for the quarter, compared to the consensus estimate of $628.70 million. Equities research analysts forecast that Birkenstock will post 1.39 EPS for the current fiscal year.

Institutional Trading of Birkenstock

Several institutional investors have recently bought and sold shares of BIRK. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Birkenstock by 30.4% during the 2nd 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 buying an additional 700,000 shares in the last quarter. Bamco Inc. NY grew its position in shares of Birkenstock by 1.4% in the first quarter. Bamco Inc. NY now owns 2,974,458 shares of the company’s stock valued at $140,543,000 after purchasing an additional 40,457 shares during the period. Capital World Investors grew its position in shares of Birkenstock by 1.0% in the first quarter. Capital World Investors now owns 1,469,369 shares of the company’s stock valued at $69,428,000 after purchasing an additional 14,089 shares during the period. Millennium Management LLC purchased a new stake in shares of Birkenstock during the second quarter worth about $61,972,000. Finally, Federated Hermes Inc. raised its position in shares of Birkenstock by 42.0% during the 2nd quarter. Federated Hermes Inc. now owns 1,071,235 shares of the company’s stock worth $58,286,000 after purchasing an additional 316,935 shares during the last quarter. 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.