Birkenstock Sees Unusually Large Options Volume (NYSE:BIRK)

Birkenstock Holding plc (NYSE:BIRK) was the target of unusually large options trading on Wednesday. Traders purchased 2,895 call options on the stock. This represents an increase of approximately 47% compared to the typical daily volume of 1,973 call options.

Birkenstock Stock Up 0.8 %

BIRK stock opened at $57.59 on Friday. The firm has a fifty day moving average price of $49.97 and a two-hundred day moving average price of $53.08. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 1.49. Birkenstock has a 1-year low of $41.00 and a 1-year high of $64.78. The firm has a market cap of $10.82 billion, a price-to-earnings ratio of 94.41, a PEG ratio of 1.19 and a beta of 2.22.

Institutional Investors Weigh In On Birkenstock

Several institutional investors and hedge funds have recently bought and sold shares of BIRK. Quarry LP acquired a new position in Birkenstock in the third quarter valued at approximately $25,000. MetLife Investment Management LLC lifted its holdings in shares of Birkenstock by 52.2% in the 3rd quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock worth $34,000 after purchasing an additional 236 shares during the last quarter. GAMMA Investing LLC boosted its position in Birkenstock by 33.7% during the 3rd 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. Amalgamated Bank grew its stake in Birkenstock by 51.8% during the 3rd quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock worth $102,000 after buying an additional 707 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Birkenstock in the second quarter worth $136,000. Institutional investors and hedge funds own 19.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Hsbc Global Res raised shares of Birkenstock to a “strong-buy” rating in a research report on Tuesday, December 3rd. Piper Sandler began coverage on Birkenstock in a report on Tuesday, December 10th. They set an “overweight” rating and a $65.00 price objective for the company. Robert W. Baird lifted their target price on Birkenstock from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday. 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 report on Monday, August 26th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $70.00 price objective on shares of Birkenstock in a report on Thursday. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Birkenstock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.31.

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.