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

Shares of Birkenstock Holding plc (NYSE:BIRK) have earned a consensus rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $68.31.

A number of equities research analysts recently weighed in on BIRK shares. HSBC raised Birkenstock from a “hold” rating to a “buy” rating and lifted their target price for the stock from $58.00 to $60.00 in a research report on Tuesday, December 3rd. BMO Capital Markets boosted their price objective on Birkenstock from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Birkenstock in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Birkenstock from $65.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Piper Sandler initiated coverage on shares of Birkenstock in a report on Tuesday, December 10th. They set an “overweight” rating and a $65.00 price objective for the company.

Institutional Investors Weigh In On Birkenstock

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in Birkenstock by 33.7% in the third quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock worth $44,000 after purchasing an additional 225 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of Birkenstock by 52.2% in the third quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock valued at $34,000 after buying an additional 236 shares during the last quarter. Quarry LP acquired a new position in Birkenstock during the 3rd quarter worth about $25,000. Amalgamated Bank grew its holdings 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 acquiring an additional 707 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its position in Birkenstock by 58.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 6,670 shares of the company’s stock valued at $329,000 after acquiring an additional 2,470 shares in the last quarter. 19.93% of the stock is owned by institutional investors and hedge funds.

Birkenstock Stock Performance

NYSE BIRK opened at $56.72 on Friday. The company’s fifty day moving average is $52.57 and its two-hundred day moving average is $52.97. The firm has a market capitalization of $10.65 billion, a price-to-earnings ratio of 92.98, a P/E/G ratio of 1.19 and a beta of 1.61. 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 52-week low of $41.00 and a 52-week high of $64.78.

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.