Birkenstock Holding plc (NYSE:BIRK) Receives $49.15 Average Price Target from Brokerages

Shares of Birkenstock Holding plc (NYSE:BIRK) have earned an average rating of “Moderate Buy” from the nineteen research firms that are covering the company, Marketbeat reports. Eight research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $49.15.

A number of analysts have recently commented on the company. Robert W. Baird boosted their price objective on Birkenstock from $54.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Telsey Advisory Group cut shares of Birkenstock from an “outperform” rating to a “market perform” rating and set a $56.00 target price for the company. in a research note on Thursday, February 29th. BMO Capital Markets upped their price target on shares of Birkenstock from $50.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Piper Sandler lifted their price objective on Birkenstock from $56.50 to $61.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Finally, UBS Group increased their target price on Birkenstock from $51.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, March 4th.

Institutional Investors Weigh In On Birkenstock

Hedge funds and other institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Birkenstock in the 4th quarter valued at $1,886,000. Federated Hermes Inc. acquired a new position in shares of Birkenstock in the 4th quarter worth approximately $27,152,000. Tower Research Capital LLC TRC purchased a new position in shares of Birkenstock during the 4th quarter worth approximately $77,000. Venturi Wealth Management LLC acquired a new stake in Birkenstock in the 4th quarter valued at approximately $83,000. Finally, Capstone Investment Advisors LLC purchased a new stake in Birkenstock in the fourth quarter valued at approximately $3,775,000. 19.93% of the stock is currently owned by institutional investors and hedge funds.

Birkenstock Price Performance

BIRK opened at $44.80 on Monday. The firm has a fifty day moving average price of $46.02 and a 200 day moving average price of $45.56. Birkenstock has a 1 year low of $35.83 and a 1 year high of $55.00. The company has a current ratio of 2.85, a quick ratio of 1.28 and a debt-to-equity ratio of 0.80.

Birkenstock (NYSE:BIRK) last posted its earnings results on Thursday, February 29th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). The firm had revenue of $303.00 million for the quarter, compared to analyst estimates of $289.09 million. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. On average, research analysts anticipate that Birkenstock will post 1.29 earnings per share for the current year.

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.