Birkenstock Target of Unusually High Options Trading (NYSE:BIRK)

Birkenstock Holding plc (NYSE:BIRK - Get Free Report) was the target of some unusual options trading on Wednesday. Investors purchased 2,895 call options on the stock. This represents an increase of 47% compared to the typical daily volume of 1,973 call options.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Evercore ISI restated an "outperform" rating and set a $77.00 price target (up previously from $63.00) on shares of Birkenstock in a report on Monday, August 26th. Stifel Nicolaus increased their price target on Birkenstock from $63.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, August 23rd. BTIG Research increased their target price on Birkenstock from $60.00 to $70.00 and gave the stock a "buy" rating in a research note on Wednesday. BMO Capital Markets reaffirmed an "outperform" rating and issued a $60.00 target price on shares of Birkenstock in a report on Friday, August 30th. Finally, UBS Group dropped their target price on shares of Birkenstock from $85.00 to $83.00 and set a "buy" rating for the company in a report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $66.44.

Birkenstock Stock Up 2.0 %

Shares of NYSE BIRK traded up $1.10 during trading on Wednesday, reaching $57.16. 5,639,601 shares of the stock were exchanged, compared to its average volume of 1,054,559. The company has a market capitalization of $10.74 billion, a price-to-earnings ratio of 93.70, a price-to-earnings-growth ratio of 1.19 and a beta of 2.22. The business's 50-day moving average price is $49.81 and its 200 day moving average price is $53.05. The company has a quick ratio of 1.49, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. Birkenstock has a twelve month low of $41.00 and a twelve month high of $64.78.

Hedge Funds Weigh In On Birkenstock

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIRK. Quarry LP purchased a new stake in shares of Birkenstock during the third quarter worth about $25,000. MetLife Investment Management LLC grew its stake in Birkenstock by 52.2% during the 3rd quarter. MetLife Investment Management LLC now owns 688 shares of the company's stock valued at $34,000 after purchasing an additional 236 shares in the last quarter. GAMMA Investing LLC increased its holdings in Birkenstock by 33.7% during the 3rd quarter. GAMMA Investing LLC now owns 893 shares of the company's stock worth $44,000 after purchasing an additional 225 shares during the last quarter. Amalgamated Bank raised its position in shares of Birkenstock by 51.8% in the 3rd quarter. Amalgamated Bank now owns 2,071 shares of the company's stock valued at $102,000 after purchasing an additional 707 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Birkenstock during the 2nd quarter valued at approximately $136,000. 19.93% of the stock is owned by hedge funds and other 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.