Birkenstock Holding PLC (NYSE:BIRK) Stock Has Consensus Price Target of $51.91

Shares of Birkenstock Holding PLC (NYSE:BIRK) have been given a consensus recommendation of “Moderate Buy” by the nineteen research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $51.91.

BIRK has been the topic of a number of recent research reports. Guggenheim reaffirmed a “buy” rating and issued a $55.00 target price on shares of Birkenstock in a report on Friday, September 11th. BTIG Research reissued a “buy” rating and issued a $60.00 target price on shares of Birkenstock in a report on Friday, August 14th. Telsey Advisory Group increased their price target on Birkenstock from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Seaport Research Partners cut shares of Birkenstock from a “buy” rating to a “neutral” rating in a research report on Monday, July 20th. Finally, Weiss Ratings cut Birkenstock from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, September 22nd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Ieq Capital LLC purchased a new stake in shares of Birkenstock during the 3rd quarter valued at $365,000. Rothschild Investment LLC lifted its position in Birkenstock by 5,755.6% during the third quarter. Rothschild Investment LLC now owns 4,216 shares of the company’s stock valued at $137,000 after purchasing an additional 4,144 shares during the period. Cercano Management LLC acquired a new position in shares of Birkenstock in the 3rd quarter valued at about $6,196,000. Russell Investments Group Ltd. lifted its holdings in Birkenstock by 132.1% in the third quarter. Russell Investments Group Ltd. now owns 49,529 shares of the company’s stock valued at $1,605,000 after acquiring an additional 28,190 shares during the period. Finally, Illinois Municipal Retirement Fund acquired a new position in Birkenstock in the third quarter valued at approximately $769,000. 19.93% of the stock is owned by hedge funds and other institutional investors.

Birkenstock Price Performance

Shares of BIRK opened at $35.73 on Tuesday. Birkenstock has a 1-year low of $29.93 and a 1-year high of $50.73. The firm has a fifty day simple moving average of $33.39 and a two-hundred day simple moving average of $38.08. The company has a current ratio of 3.78, a quick ratio of 2.09 and a debt-to-equity ratio of 0.67. The firm has a market cap of $6.36 billion, a PE ratio of 16.75, a P/E/G ratio of 1.21 and a beta of 1.26.

Birkenstock (NYSE:BIRK) last announced its earnings results on Thursday, August 13th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.02). The firm had revenue of $834.65 million during the quarter, compared to analysts’ expectations of $827.39 million. Birkenstock had a return on equity of 13.36% and a net margin of 14.82%. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.62 earnings per share. On average, equities analysts anticipate that Birkenstock will post 2.19 EPS for the current year.

Birkenstock Company Profile

Birkenstock is a German footwear company best known for sandals and shoes built around its contoured footbed. Its product range also includes clogs, boots, sneakers and related accessories, sold under the Birkenstock brand. The company’s history traces back to 1774, when Johann Adam Birkenstock was recorded as a shoemaker in Germany. Birkenstock later became known for its anatomically shaped footbed, typically made with materials such as cork and latex. Birkenstock serves customers internationally through wholesale partners, its own retail stores and e-commerce channels.