Birkenstock Holding plc (NYSE:BIRK) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Birkenstock Holding plc (NYSE:BIRK) have been given a consensus recommendation of “Moderate Buy” by the seventeen analysts that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $68.31.

BIRK has been the subject of a number of research analyst reports. Telsey Advisory Group reissued an “outperform” rating and issued a $70.00 target price on shares of Birkenstock in a research report on Wednesday, January 22nd. Piper Sandler assumed coverage on shares of Birkenstock in a research report on Tuesday, December 10th. They issued an “overweight” rating and a $65.00 price target for the company. HSBC upgraded shares of Birkenstock from a “hold” rating to a “buy” rating and lifted their price objective for the company from $58.00 to $60.00 in a research note on Tuesday, December 3rd. BMO Capital Markets increased their target price on shares of Birkenstock from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Birkenstock from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, December 19th.

Birkenstock Price Performance

Shares of NYSE:BIRK opened at $60.74 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.60 and a quick ratio of 1.20. Birkenstock has a 12 month low of $41.00 and a 12 month high of $64.78. The firm has a market capitalization of $11.41 billion, a P/E ratio of 56.24, a P/E/G ratio of 1.16 and a beta of 1.61. The company’s fifty day moving average price is $55.80 and its 200 day moving average price is $53.16.

Institutional Investors Weigh In On Birkenstock

A number of large investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new stake in shares of Birkenstock in the third quarter valued at $25,000. MetLife Investment Management LLC boosted its stake in shares of Birkenstock by 52.2% during 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 raised its position in shares of Birkenstock by 33.7% in the third quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock valued at $44,000 after buying an additional 225 shares during the last quarter. Amalgamated Bank lifted its stake in shares of 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 during the period. Finally, R Squared Ltd purchased a new stake in Birkenstock in the 4th quarter worth approximately $143,000. 19.93% of the stock is owned by institutional investors and hedge funds.

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.