Analysts Set Birkenstock Holding plc (NYSE:BIRK) Price Target at $66.00

Shares of Birkenstock Holding plc (NYSE:BIRK) have been given a consensus rating of “Moderate Buy” by the seventeen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $66.13.

Several research analysts have recently weighed in on BIRK shares. UBS Group lowered their price objective on Birkenstock from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Tuesday. BTIG Research set a $60.00 price target on Birkenstock and gave the company a “buy” rating in a research note on Friday, October 18th. 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. Stifel Nicolaus lifted their price objective on shares of Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, HSBC raised shares of Birkenstock from a “hold” rating to a “buy” rating and increased their target price for the stock from $58.00 to $60.00 in a research note on Tuesday, December 3rd.

Birkenstock Trading Down 1.0 %

BIRK opened at $53.59 on Tuesday. The stock has a market cap of $10.07 billion, a PE ratio of 87.85, a price-to-earnings-growth ratio of 1.16 and a beta of 2.22. The company has a quick ratio of 1.49, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. Birkenstock has a twelve month low of $41.00 and a twelve month high of $64.78. The company has a fifty day moving average of $49.19 and a 200-day moving average of $52.93.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Bamco Inc. NY grew its position in Birkenstock by 2.6% in the 3rd quarter. Bamco Inc. NY now owns 3,102,507 shares of the company’s stock worth $152,923,000 after purchasing an additional 78,093 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Birkenstock by 30.4% in the second 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 acquiring an additional 700,000 shares in the last quarter. FMR LLC increased its position in shares of Birkenstock by 61.4% during the third quarter. FMR LLC now owns 2,128,689 shares of the company’s stock valued at $104,923,000 after acquiring an additional 809,784 shares during the last quarter. Millennium Management LLC bought a new stake in Birkenstock during the second quarter worth $61,972,000. Finally, Federated Hermes Inc. boosted its position in Birkenstock by 42.0% in the second 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. Hedge funds and other 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.