Birkenstock (NYSE:BIRK) Shares Gap Up – Still a Buy?

Birkenstock Holding plc (NYSE:BIRK)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $56.06, but opened at $60.94. Birkenstock shares last traded at $59.58, with a volume of 1,670,112 shares traded.

Analyst Ratings Changes

A number of brokerages recently issued reports on BIRK. Evercore ISI reissued an “outperform” rating and set a $77.00 price target (up from $63.00) on shares of Birkenstock in a research report on Monday, August 26th. BTIG Research set a $60.00 price target on Birkenstock and gave the stock a “buy” rating in a research report on Friday, October 18th. 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. Deutsche Bank Aktiengesellschaft cut their target price on Birkenstock from $69.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $70.00 target price on shares of Birkenstock in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.81.

Birkenstock Stock Up 6.0 %

The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 1.49. The business has a 50-day moving average of $49.65 and a 200 day moving average of $53.02. The company has a market capitalization of $11.16 billion, a PE ratio of 98.67, a P/E/G ratio of 1.19 and a beta of 2.22.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its position in Birkenstock by 33.7% during the third quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock valued at $44,000 after purchasing an additional 225 shares during the period. MetLife Investment Management LLC raised its holdings in Birkenstock by 52.2% during the 3rd quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock valued at $34,000 after buying an additional 236 shares during the period. Quarry LP bought a new stake in Birkenstock in the third quarter worth $25,000. Amalgamated Bank boosted its stake in Birkenstock by 51.8% during the third quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock worth $102,000 after buying an additional 707 shares during the period. Finally, Venturi Wealth Management LLC raised its position in Birkenstock by 58.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 6,670 shares of the company’s stock worth $329,000 after purchasing an additional 2,470 shares during the period. Institutional investors own 19.93% of the company’s stock.

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.