Birkenstock Target of Unusually High Options Trading (NYSE:BIRK)

Birkenstock Holding plc (NYSE:BIRK) was the recipient of unusually large options trading activity on Wednesday. Stock traders bought 2,895 call options on the company. This is an increase of approximately 47% compared to the typical volume of 1,973 call options.

Analysts Set New Price Targets

BIRK has been the subject of a number of recent research reports. Piper Sandler began coverage on shares of Birkenstock in a research report on Tuesday, December 10th. They set an “overweight” rating and a $65.00 price objective for the company. BTIG Research upped their target price on Birkenstock from $60.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday. BMO Capital Markets reissued an “outperform” rating and issued a $60.00 price target on shares of Birkenstock in a report on Friday, August 30th. Stifel Nicolaus boosted 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. Finally, HSBC raised 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 report on Tuesday, December 3rd. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Birkenstock has an average rating of “Moderate Buy” and a consensus target price of $66.44.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new position in Birkenstock during the third quarter valued at about $25,000. MetLife Investment Management LLC lifted its holdings in Birkenstock by 52.2% in the 3rd quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock valued at $34,000 after acquiring an additional 236 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Birkenstock by 33.7% during the 3rd quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock valued at $44,000 after purchasing an additional 225 shares in the last quarter. Amalgamated Bank grew its stake in shares of Birkenstock by 51.8% in the 3rd quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock worth $102,000 after purchasing an additional 707 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Birkenstock in the 2nd quarter worth approximately $136,000. 19.93% of the stock is currently owned by institutional investors.

Birkenstock Stock Performance

Shares of BIRK opened at $57.16 on Thursday. Birkenstock has a 52-week low of $41.00 and a 52-week high of $64.78. The firm has a market capitalization of $10.74 billion, a PE ratio of 93.70, a P/E/G ratio of 1.19 and a beta of 2.22. The firm has a 50-day moving average price of $49.81 and a 200 day moving average price of $53.05. The company has a quick ratio of 1.49, a current ratio of 2.91 and a debt-to-equity ratio of 0.55.

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.