Brokerages Set Birkenstock Holding plc (NYSE:BIRK) Target Price at $68.31

Birkenstock Holding plc (NYSE:BIRK) has earned an average recommendation of “Moderate Buy” from the seventeen analysts that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $68.31.

Several equities research analysts have weighed in on BIRK shares. UBS Group increased their target price on Birkenstock from $83.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. BMO Capital Markets increased their price objective on shares of Birkenstock from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Piper Sandler initiated coverage on shares of Birkenstock in a research note on Tuesday, December 10th. They set an “overweight” rating and a $65.00 target price for the company. BTIG Research raised their price target on shares of Birkenstock from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, HSBC upgraded Birkenstock from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $58.00 to $60.00 in a research report on Tuesday, December 3rd.

Birkenstock Stock Up 2.0 %

NYSE:BIRK opened at $57.41 on Friday. The firm has a market capitalization of $10.78 billion, a PE ratio of 94.11, a price-to-earnings-growth ratio of 1.19 and a beta of 1.61. Birkenstock has a 52 week low of $41.00 and a 52 week high of $64.78. The company has a current ratio of 2.91, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. The stock has a 50 day moving average of $51.92 and a 200-day moving average of $52.93.

Institutional Investors Weigh In On Birkenstock

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new stake in shares of Birkenstock during the third quarter worth $25,000. MetLife Investment Management LLC increased its stake in 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 in the last quarter. GAMMA Investing LLC raised its holdings in Birkenstock by 33.7% during the 3rd quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock worth $44,000 after buying an additional 225 shares during the period. Amalgamated Bank lifted its stake in Birkenstock by 51.8% during the third quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock valued at $102,000 after buying an additional 707 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Birkenstock in the second quarter worth about $136,000. 19.93% of the stock is currently owned by institutional investors.

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.