Birkenstock Holding plc (NYSE:BIRK) Short Interest Update

Birkenstock Holding plc (NYSE:BIRK) was the recipient of a significant decline in short interest in September. As of September 15th, there was short interest totalling 4,450,000 shares, a decline of 8.1% from the August 31st total of 4,840,000 shares. Based on an average daily volume of 1,460,000 shares, the short-interest ratio is presently 3.0 days. Approximately 7.7% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Evercore ISI reiterated 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 upped their price target on shares of Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Bank of America upgraded shares of Birkenstock from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $62.00 to $65.00 in a research report on Thursday, July 25th. UBS Group upgraded shares of Birkenstock from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $52.00 to $85.00 in a research report on Monday, July 1st. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $70.00 price target on shares of Birkenstock in a report on Tuesday, September 24th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Birkenstock presently has an average rating of “Moderate Buy” and an average target price of $62.23.

Birkenstock Trading Down 2.7 %

NYSE BIRK traded down $1.33 during mid-day trading on Tuesday, hitting $47.96. The company’s stock had a trading volume of 1,103,529 shares, compared to its average volume of 1,017,746. Birkenstock has a 52-week low of $35.83 and a 52-week high of $64.78. The stock’s fifty day simple moving average is $53.89 and its two-hundred day simple moving average is $51.63. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 1.49. The firm has a market capitalization of $9.01 billion and a P/E ratio of 59.32.

Birkenstock (NYSE:BIRK) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). The firm had revenue of $564.76 million for the quarter, compared to analysts’ expectations of $628.70 million. Birkenstock had a net margin of 6.26% and a return on equity of 5.79%. Research analysts expect that Birkenstock will post 1.37 EPS for the current year.

Institutional Trading of Birkenstock

A number of hedge funds have recently made changes to their positions in BIRK. Treasurer of the State of North Carolina purchased a new stake in shares of Birkenstock during the fourth quarter valued at approximately $643,000. Capital International Ltd. CA purchased a new stake in shares of Birkenstock during the fourth quarter valued at approximately $1,909,000. Capital International Sarl acquired a new stake in shares of Birkenstock during the fourth quarter worth approximately $1,864,000. Capital World Investors acquired a new stake in shares of Birkenstock during the fourth quarter worth approximately $70,916,000. Finally, Ghisallo Capital Management LLC acquired a new stake in shares of Birkenstock during the fourth quarter worth approximately $4,873,000. Hedge funds and other institutional investors own 19.93% of the company’s stock.

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.