Birkenstock (NYSE:BIRK) Shares Up 3.2% – Time to Buy?

by · The Markets Daily

Birkenstock Holding plc (NYSE:BIRK – Get Free Report)’s stock price rose 3.2% on Friday . The company traded as high as $44.52 and last traded at $46.07. Approximately 425,144 shares traded hands during trading, a decline of 67% from the average daily volume of 1,290,357 shares. The stock had previously closed at $44.63.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BIRK. UBS Group lifted their price target on shares of Birkenstock from $83.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, December 19th. BTIG Research increased their price target on shares of Birkenstock from $60.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. BMO Capital Markets boosted their price objective on Birkenstock from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Telsey Advisory Group reiterated an “outperform” rating and issued a $70.00 target price on shares of Birkenstock in a report on Thursday, February 20th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Birkenstock from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $68.31.

Read Our Latest Stock Analysis on Birkenstock

Birkenstock Trading Down 0.0 %

The company has a quick ratio of 1.08, a current ratio of 2.84 and a debt-to-equity ratio of 0.48. The stock’s 50 day moving average is $50.93 and its two-hundred day moving average is $51.56. The company has a market capitalization of $8.38 billion, a PE ratio of 35.91, a price-to-earnings-growth ratio of 1.02 and a beta of 1.90.

Birkenstock (NYSE:BIRK – Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The company had revenue of $385.88 million during the quarter, compared to the consensus estimate of $355.80 million. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. As a group, sell-side analysts predict that Birkenstock Holding plc will post 1.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Birkenstock

A number of institutional investors have recently added to or reduced their stakes in BIRK. HighTower Advisors LLC raised its holdings in Birkenstock by 370.8% in the third quarter. HighTower Advisors LLC now owns 26,165 shares of the company’s stock worth $1,289,000 after purchasing an additional 20,607 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Birkenstock during the 3rd quarter worth approximately $1,323,000. Renaissance Capital LLC lifted its position in Birkenstock by 94.0% during the fourth quarter. Renaissance Capital LLC now owns 82,190 shares of the company’s stock valued at $4,657,000 after acquiring an additional 39,831 shares during the last quarter. FMR LLC boosted its stake in Birkenstock by 61.4% in the third quarter. FMR LLC now owns 2,128,689 shares of the company’s stock valued at $104,923,000 after acquiring an additional 809,784 shares in the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new position in Birkenstock in the fourth quarter worth $606,000. Institutional investors own 19.93% of the company’s stock.

Birkenstock Company Profile

(Get Free Report)

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.

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