Birkenstock Holding plc (NYSE:BIRK) Receives $62.23 Average Price Target from Brokerages

Shares of Birkenstock Holding plc (NYSE:BIRK) have earned a consensus rating of “Moderate Buy” from the nineteen brokerages that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $62.23.

A number of brokerages have weighed in on BIRK. Evercore ISI reissued an “outperform” rating and set a $77.00 price target (up previously from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. Telsey Advisory Group restated an “outperform” rating and issued a $70.00 price target on shares of Birkenstock in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $70.00 price objective on shares of Birkenstock in a research note on Thursday, June 13th. Morgan Stanley raised their target price on shares of Birkenstock from $44.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 25th. Finally, BNP Paribas assumed coverage on shares of Birkenstock in a research report on Thursday, June 20th. They set an “outperform” rating and a $68.00 price target for the company.

Hedge Funds Weigh In On Birkenstock

A number of institutional investors have recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Birkenstock during the fourth quarter worth about $458,539,000. Norges Bank purchased a new stake in Birkenstock during the 4th quarter worth approximately $177,068,000. Capital World Investors acquired a new position in shares of Birkenstock in the 4th quarter valued at approximately $70,916,000. Millennium Management LLC acquired a new position in shares of Birkenstock in the 2nd quarter valued at approximately $61,972,000. Finally, Ghisallo Capital Management LLC boosted its stake 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 valued at $48,969,000 after buying an additional 800,000 shares during the last quarter. Institutional investors and hedge funds own 19.93% of the company’s stock.

Birkenstock Stock Down 4.4 %

BIRK opened at $45.41 on Friday. The business’s fifty day simple moving average is $56.50 and its 200 day simple moving average is $51.78. Birkenstock has a 52 week low of $35.83 and a 52 week high of $64.78. The firm has a market cap of $8.53 billion and a P/E ratio of 59.35. The company has a quick ratio of 1.13, a current ratio of 2.87 and a debt-to-equity ratio of 0.56.

Birkenstock (NYSE:BIRK) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.07). The firm had revenue of $564.76 million for the quarter, compared to analyst estimates of $628.70 million. Birkenstock had a return on equity of 5.92% and a net margin of 6.26%. As a group, equities research analysts anticipate that Birkenstock will post 1.41 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.