Brokerages Set Birkenstock Holding plc (NYSE:BIRK) Price Target at $55.29

Birkenstock Holding plc (NYSE:BIRK) has received an average recommendation of “Moderate Buy” from the nineteen brokerages that are currently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $56.62.

Several research firms have issued reports on BIRK. Evercore ISI boosted their price objective on shares of Birkenstock from $54.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Piper Sandler boosted their price objective on shares of Birkenstock from $56.50 to $61.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. Robert W. Baird boosted their price objective on shares of Birkenstock from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. BNP Paribas began coverage on shares of Birkenstock in a research report on Thursday. They issued an “outperform” rating and a $68.00 price target for the company. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $56.00 price target on shares of Birkenstock in a research report on Thursday, May 30th.

Birkenstock Stock Up 0.5 %

BIRK stock opened at $61.47 on Tuesday. Birkenstock has a 12 month low of $35.83 and a 12 month high of $61.83. The company has a quick ratio of 1.13, a current ratio of 2.87 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average price of $50.18 and a 200 day moving average price of $48.43.

Birkenstock (NYSE:BIRK) last released its quarterly earnings results on Thursday, May 30th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.09. The firm had revenue of $522.51 million for the quarter, compared to analysts’ expectations of $499.98 million. On average, equities analysts expect that Birkenstock will post 1.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Birkenstock during the 4th quarter valued at approximately $458,539,000. Norges Bank acquired a new stake in shares of Birkenstock in the fourth quarter worth $177,068,000. Bamco Inc. NY increased its stake in shares of Birkenstock by 1.4% in the first quarter. Bamco Inc. NY now owns 2,974,458 shares of the company’s stock worth $140,543,000 after acquiring an additional 40,457 shares during the period. Capital World Investors increased its stake in shares of Birkenstock by 1.0% in the first quarter. Capital World Investors now owns 1,469,369 shares of the company’s stock worth $69,428,000 after acquiring an additional 14,089 shares during the period. Finally, Federated Hermes Inc. acquired a new stake in shares of Birkenstock in the fourth quarter worth $27,152,000. Institutional investors and hedge funds 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.