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

Shares of Birkenstock Holding plc (NYSE:BIRK) have been given an average recommendation of “Moderate Buy” by the seventeen brokerages that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $68.31.

BIRK has been the subject of several research reports. Piper Sandler assumed coverage on shares of Birkenstock in a report on Tuesday, December 10th. They set an “overweight” rating and a $65.00 price target for the company. Telsey Advisory Group reissued an “outperform” rating and set a $70.00 target price on shares of Birkenstock in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft upped their price target 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. Robert W. Baird lifted their price objective on Birkenstock from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Finally, BTIG Research upped their target price on Birkenstock from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th.

Birkenstock Trading Down 1.8 %

Shares of NYSE BIRK opened at $56.72 on Friday. The company has a current ratio of 2.91, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. Birkenstock has a one year low of $41.00 and a one year high of $64.78. The business has a 50-day moving average price of $52.57 and a two-hundred day moving average price of $52.97. The firm has a market capitalization of $10.65 billion, a PE ratio of 92.98, a PEG ratio of 1.19 and a beta of 1.61.

Institutional Trading of Birkenstock

Several large investors have recently modified their holdings of the company. Millennium Management LLC acquired a new position in Birkenstock during the 2nd quarter worth $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 purchasing an additional 809,784 shares during the period. Ghisallo Capital Management LLC lifted its position in shares of Birkenstock by 800.0% during the 2nd quarter. Ghisallo Capital Management LLC now owns 900,000 shares of the company’s stock worth $48,969,000 after purchasing an additional 800,000 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Birkenstock by 30.4% during the 2nd 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 purchasing an additional 700,000 shares during the period. Finally, D. E. Shaw & Co. Inc. acquired a new stake in Birkenstock in the 2nd quarter valued at approximately $25,098,000. 19.93% of the stock is 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.