Birkenstock Holding plc (NYSE:BIRK) Receives Average Rating of “Moderate Buy” from Brokerages

Birkenstock Holding plc (NYSE:BIRK) has earned an average recommendation of “Moderate Buy” from the seventeen research firms that are covering the firm, MarketBeat Ratings reports. Two 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 12 month price target among brokers that have issued a report on the stock in the last year is $68.31.

BIRK has been the subject of several recent research reports. Hsbc Global Res upgraded Birkenstock to a “strong-buy” rating in a research report on Tuesday, December 3rd. Robert W. Baird increased their price target on shares of Birkenstock from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Birkenstock from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Piper Sandler began coverage on shares of Birkenstock in a report on Tuesday, December 10th. They set an “overweight” rating and a $65.00 target price for the company. Finally, HSBC upgraded Birkenstock from a “hold” rating to a “buy” rating and boosted their price target for the company from $58.00 to $60.00 in a report on Tuesday, December 3rd.

Birkenstock Stock Performance

NYSE:BIRK opened at $56.60 on Wednesday. Birkenstock has a 1-year low of $41.00 and a 1-year high of $64.78. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.60 and a quick ratio of 1.20. The business has a 50 day moving average of $56.86 and a 200 day moving average of $53.32. The company has a market capitalization of $10.63 billion, a price-to-earnings ratio of 52.41, a PEG ratio of 1.18 and a beta of 1.61.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Quarry LP bought a new position in shares of Birkenstock during the 3rd quarter worth approximately $25,000. MetLife Investment Management LLC increased its holdings in Birkenstock by 52.2% in the 3rd quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock worth $34,000 after buying an additional 236 shares during the period. GAMMA Investing LLC raised its position 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 buying an additional 225 shares during the last quarter. Amalgamated Bank boosted its holdings 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 acquiring an additional 707 shares during the last quarter. Finally, R Squared Ltd purchased a new position in shares of Birkenstock during the fourth quarter worth $143,000. Institutional investors own 19.93% of the company’s stock.

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.