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

Birkenstock Holding plc (NYSE:BIRK - Get Free Report) has earned a consensus rating of "Moderate Buy" from the fifteen research firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $66.40.

Several brokerages recently weighed in on BIRK. BTIG Research set a $60.00 target price on Birkenstock and gave the stock a "buy" rating in a research note on Friday, October 18th. Evercore ISI reiterated an "outperform" rating and set a $77.00 price target (up previously from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. Bank of America upgraded shares of Birkenstock from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $62.00 to $65.00 in a research note on Thursday, July 25th. Stifel Nicolaus increased their price objective on shares of Birkenstock from $63.00 to $70.00 and gave the stock a "buy" rating in a research note on Friday, August 23rd. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and set a $70.00 price target on shares of Birkenstock in a research report on Tuesday, September 24th.

Birkenstock Price Performance

Shares of BIRK stock traded up $0.81 on Friday, hitting $45.60. 1,299,021 shares of the stock traded hands, compared to its average volume of 1,017,251. Birkenstock has a 52 week low of $41.00 and a 52 week high of $64.78. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 1.49. The firm has a market cap of $8.57 billion and a price-to-earnings ratio of 74.75. The firm has a 50 day simple moving average of $47.99 and a two-hundred day simple moving average of $52.32.

Birkenstock (NYSE:BIRK - Get Free Report) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.07). Birkenstock had a net margin of 6.26% and a return on equity of 5.79%. The company had revenue of $564.76 million during the quarter, compared to the consensus estimate of $628.70 million. As a group, equities research analysts predict that Birkenstock will post 1.39 earnings per share for the current fiscal year.

Institutional Trading of Birkenstock

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC purchased a new stake in shares of Birkenstock in the second quarter worth about $61,972,000. FMR LLC increased its stake in shares of Birkenstock by 61.4% in the third quarter. FMR LLC now owns 2,128,689 shares of the company's stock worth $104,923,000 after buying an additional 809,784 shares during the last quarter. Ghisallo Capital Management LLC increased its stake in shares of Birkenstock by 800.0% in the second quarter. Ghisallo Capital Management LLC now owns 900,000 shares of the company's stock worth $48,969,000 after buying an additional 800,000 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Birkenstock by 30.4% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,000,000 shares of the company's stock valued at $163,230,000 after acquiring an additional 700,000 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. bought a new position in Birkenstock during the 2nd quarter valued at $25,098,000. 19.93% of the stock is currently 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.