Analysts Set Birkenstock Holding plc (NYSE:BIRK) Price Target at $68.31

Birkenstock Holding plc (NYSE:BIRK) has been given a consensus recommendation of “Moderate Buy” by the seventeen ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $68.31.

Several research firms recently weighed in on BIRK. UBS Group boosted their target price on Birkenstock from $83.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Hsbc Global Res upgraded shares of Birkenstock to a “strong-buy” rating in a research report on Tuesday, December 3rd. Robert W. Baird increased their target price on shares of Birkenstock from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. BMO Capital Markets upped their price objective on shares of Birkenstock from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Finally, HSBC raised Birkenstock from a “hold” rating to a “buy” rating and upped their target price for the company from $58.00 to $60.00 in a research report on Tuesday, December 3rd.

Hedge Funds Weigh In On Birkenstock

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. HighTower Advisors LLC boosted its stake in shares of Birkenstock by 370.8% in the third quarter. HighTower Advisors LLC now owns 26,165 shares of the company’s stock valued at $1,289,000 after buying an additional 20,607 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Birkenstock during the 3rd quarter worth $1,323,000. FMR LLC boosted its position in shares of Birkenstock by 61.4% during the 3rd quarter. FMR LLC now owns 2,128,689 shares of the company’s stock worth $104,923,000 after purchasing an additional 809,784 shares in the last quarter. State Street Corp grew its stake in shares of Birkenstock by 49.4% during the 3rd quarter. State Street Corp now owns 402,899 shares of the company’s stock worth $19,859,000 after purchasing an additional 133,212 shares during the period. Finally, Ghisallo Capital Management LLC increased its holdings in shares of Birkenstock by 800.0% in the 2nd quarter. Ghisallo Capital Management LLC now owns 900,000 shares of the company’s stock valued at $48,969,000 after purchasing an additional 800,000 shares in the last quarter. Institutional investors and hedge funds own 19.93% of the company’s stock.

Birkenstock Stock Performance

NYSE:BIRK opened at $59.25 on Wednesday. The firm has a market capitalization of $11.13 billion, a PE ratio of 54.86, a price-to-earnings-growth ratio of 1.22 and a beta of 1.61. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.60 and a quick ratio of 1.20. The business’s fifty day moving average price is $56.63 and its 200 day moving average price is $53.31. Birkenstock has a 12 month low of $41.00 and a 12 month high of $64.78.

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.