Birkenstock (NYSE:BIRK) Shares Up 3.2% - Time to Buy?

Birkenstock Holding plc (NYSE:BIRK - Get Free Report)'s share price shot up 3.2% during mid-day trading on Friday . The company traded as high as $44.52 and last traded at $46.07. 425,144 shares were traded during trading, a decline of 67% from the average session volume of 1,290,357 shares. The stock had previously closed at $44.63.

Analyst Ratings Changes

BIRK has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Birkenstock from $65.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Telsey Advisory Group restated an "outperform" rating and set a $70.00 price objective on shares of Birkenstock in a research report on Thursday, February 20th. UBS Group boosted their price target on shares of Birkenstock from $83.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. BMO Capital Markets upped their price objective on shares of Birkenstock from $60.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, December 19th. Finally, BTIG Research boosted their target price on Birkenstock from $60.00 to $70.00 and gave the company a "buy" rating in a report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $68.31.

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Birkenstock Price Performance

The company has a current ratio of 2.84, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48. The company has a market cap of $9.01 billion, a price-to-earnings ratio of 38.68, a P/E/G ratio of 1.02 and a beta of 1.71. The business has a 50-day moving average price of $49.05 and a 200 day moving average price of $51.41.

Birkenstock (NYSE:BIRK - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.03. The company had revenue of $385.88 million during the quarter, compared to analyst estimates of $355.80 million. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. As a group, research analysts expect that Birkenstock Holding plc will post 1.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Birkenstock

Large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its position in shares of Birkenstock by 59.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,627 shares of the company's stock valued at $327,000 after purchasing an additional 2,473 shares during the period. MetLife Investment Management LLC grew its position 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 purchasing an additional 236 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Birkenstock during the 3rd quarter worth about $1,323,000. HighTower Advisors LLC increased its position in Birkenstock by 370.8% in the 3rd quarter. HighTower Advisors LLC now owns 26,165 shares of the company's stock worth $1,289,000 after buying an additional 20,607 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Birkenstock in the third quarter valued at approximately $694,000. 19.93% of the stock is currently owned by institutional investors.

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.