Birkenstock Holding PLC (NYSE:BIRK) Stock Has Consensus Target Price of $51.91

Birkenstock Holding PLC (NYSE:BIRK) has earned an average rating of “Moderate Buy” from the nineteen analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $51.91.

A number of equities research analysts have issued reports on BIRK shares. Seaport Research Partners downgraded shares of Birkenstock from a “buy” rating to a “neutral” rating in a research report on Monday, July 20th. The Goldman Sachs Group reiterated a “buy” rating on shares of Birkenstock in a report on Friday, July 31st. William Blair cut Birkenstock from an “outperform” rating to a “market perform” rating and set a $44.00 price objective for the company. in a research report on Monday, August 3rd. Zacks Research upgraded Birkenstock from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 1st. Finally, Telsey Advisory Group boosted their target price on Birkenstock from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, August 14th.

Birkenstock Stock Up 1.7%

NYSE BIRK traded up $0.61 during trading on Tuesday, reaching $36.31. 949,426 shares of the company’s stock were exchanged, compared to its average volume of 2,058,022. The company has a current ratio of 3.78, a quick ratio of 2.09 and a debt-to-equity ratio of 0.67. Birkenstock has a fifty-two week low of $29.93 and a fifty-two week high of $50.73. The company’s fifty day simple moving average is $33.44 and its 200-day simple moving average is $38.07. The firm has a market capitalization of $6.46 billion, a PE ratio of 17.02, a P/E/G ratio of 1.18 and a beta of 1.26.

Birkenstock (NYSE:BIRK) last issued its earnings results on Thursday, August 13th. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). The business had revenue of $834.65 million during the quarter, compared to analyst estimates of $827.39 million. Birkenstock had a net margin of 14.82% and a return on equity of 13.36%. Birkenstock’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 EPS. Sell-side analysts predict that Birkenstock will post 2.19 EPS for the current year.

Institutional Investors Weigh In On Birkenstock

Several large investors have recently made changes to their positions in the company. Corient Private Wealth LP acquired a new position in Birkenstock during the second quarter valued at approximately $3,703,000. Bank of New York Mellon Corp bought a new position in shares of Birkenstock in the second quarter valued at approximately $4,772,000. Rice Hall James & Associates LLC raised its position in shares of Birkenstock by 26.5% in the first quarter. Rice Hall James & Associates LLC now owns 590,368 shares of the company’s stock valued at $21,153,000 after purchasing an additional 123,791 shares during the period. ABN Amro Investment Solutions acquired a new stake in shares of Birkenstock in the first quarter worth $2,892,000. Finally, Entropy Technologies LP acquired a new stake in shares of Birkenstock in the first quarter worth $1,075,000. Institutional investors own 19.93% of the company’s stock.

Birkenstock Company Profile

Birkenstock is a German footwear company best known for sandals and shoes built around its contoured footbed. Its product range also includes clogs, boots, sneakers and related accessories, sold under the Birkenstock brand. The company’s history traces back to 1774, when Johann Adam Birkenstock was recorded as a shoemaker in Germany. Birkenstock later became known for its anatomically shaped footbed, typically made with materials such as cork and latex. Birkenstock serves customers internationally through wholesale partners, its own retail stores and e-commerce channels.