Analysts Set Birkenstock Holding plc (NYSE:BIRK) PT at $68.31

Shares of Birkenstock Holding plc (NYSE:BIRK - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the seventeen brokerages that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $68.31.

Several research analysts have weighed in on BIRK shares. Piper Sandler initiated coverage on Birkenstock in a research report on Tuesday, December 10th. They set an "overweight" rating and a $65.00 price target on the stock. Hsbc Global Res raised shares of Birkenstock to a "strong-buy" rating in a research report on Tuesday, December 3rd. Telsey Advisory Group reiterated an "outperform" rating and issued a $70.00 price target on shares of Birkenstock in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Birkenstock from $65.00 to $66.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Finally, HSBC upgraded Birkenstock from a "hold" rating to a "buy" rating and lifted their price target for the stock from $58.00 to $60.00 in a report on Tuesday, December 3rd.

Birkenstock Stock Down 4.7 %

Shares of NYSE BIRK traded down $2.92 during mid-day trading on Wednesday, hitting $59.25. The company had a trading volume of 1,593,028 shares, compared to its average volume of 1,236,875. Birkenstock has a one year low of $41.00 and a one year high of $64.78. The company has a market capitalization of $11.13 billion, a PE ratio of 54.86, a price-to-earnings-growth ratio of 1.22 and a beta of 1.61. The company has a current ratio of 2.60, a quick ratio of 1.20 and a debt-to-equity ratio of 0.50. The firm has a 50-day simple moving average of $56.63 and a two-hundred day simple moving average of $53.30.

Hedge Funds Weigh In On Birkenstock

A number of hedge funds and other institutional investors have recently made changes to their positions in BIRK. New York State Common Retirement Fund boosted its holdings in Birkenstock by 21.7% in the fourth quarter. New York State Common Retirement Fund now owns 22,415 shares of the company's stock valued at $1,270,000 after acquiring an additional 4,000 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Birkenstock by 9.3% during the 4th quarter. Venturi Wealth Management LLC now owns 7,292 shares of the company's stock valued at $413,000 after purchasing an additional 622 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Birkenstock by 581.8% during the fourth quarter. Principal Financial Group Inc. now owns 542,798 shares of the company's stock valued at $30,755,000 after buying an additional 463,191 shares during the period. Kessler Investment Group LLC bought a new position in Birkenstock in the fourth quarter worth about $6,737,000. Finally, Vontobel Holding Ltd. purchased a new stake in Birkenstock in the fourth quarter worth about $461,000. Institutional investors own 19.93% of the company's stock.

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.