Birkenstock Holding plc (NYSE:BIRK) Receives $66.40 Consensus Price Target from Analysts

Shares of Birkenstock Holding plc (NYSE:BIRK) have received an average rating of “Moderate Buy” from the fifteen analysts that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $66.40.

Several analysts have weighed in on the stock. Bank of America raised shares of Birkenstock from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $62.00 to $65.00 in a research note on Thursday, July 25th. Stifel Nicolaus raised their price objective on Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. BTIG Research set a $60.00 price target on shares of Birkenstock and gave the company a “buy” rating in a research report on Friday, October 18th. BMO Capital Markets reissued an “outperform” rating and set a $60.00 price objective on shares of Birkenstock in a report on Friday, August 30th. Finally, Evercore ISI restated an “outperform” rating and set a $77.00 price target (up from $63.00) on shares of Birkenstock in a research note on Monday, August 26th.

Institutional Trading of Birkenstock

Large investors have recently bought and sold shares of the business. Millennium Management LLC acquired a new position in Birkenstock during the second quarter worth about $61,972,000. FMR LLC boosted its position in Birkenstock by 61.4% during the third quarter. FMR LLC now owns 2,128,689 shares of the company’s stock worth $104,923,000 after acquiring an additional 809,784 shares during the last quarter. Ghisallo Capital Management LLC lifted its holdings in shares of Birkenstock by 800.0% during the 2nd quarter. Ghisallo Capital Management LLC now owns 900,000 shares of the company’s stock worth $48,969,000 after acquiring an additional 800,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings 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 worth $163,230,000 after buying an additional 700,000 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new position in Birkenstock during the second quarter valued at approximately $25,098,000. Institutional investors and hedge funds own 19.93% of the company’s stock.

Birkenstock Price Performance

Shares of NYSE:BIRK opened at $46.61 on Friday. The stock’s fifty day simple moving average is $48.08 and its two-hundred day simple moving average is $52.45. 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 1-year low of $41.00 and a 1-year high of $64.78. The stock has a market cap of $8.75 billion and a PE ratio of 76.41.

Birkenstock (NYSE:BIRK) last released its quarterly earnings data 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 net margin of 6.26% and a return on equity of 5.79%. The business had revenue of $564.76 million during the quarter, compared to analysts’ expectations of $628.70 million. As a group, analysts forecast that Birkenstock will post 1.37 EPS for the current fiscal year.

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.