Birkenstock (NYSE:BIRK) Trading 5.6% Higher

Shares of Birkenstock Holding plc (NYSE:BIRK) shot up 5.6% during mid-day trading on Friday . The company traded as high as $44.44 and last traded at $44.35. 204,992 shares were traded during mid-day trading, a decline of 73% from the average session volume of 747,062 shares. The stock had previously closed at $41.99.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BIRK shares. Stifel Nicolaus boosted their price objective on Birkenstock from $47.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, December 14th. BMO Capital Markets lifted their target price on Birkenstock from $50.00 to $54.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Telsey Advisory Group cut shares of Birkenstock from an “outperform” rating to a “market perform” rating and set a $56.00 target price on the stock. in a research report on Thursday, February 29th. UBS Group raised their price target on Birkenstock from $51.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Finally, Piper Sandler lifted their target price on Birkenstock from $56.50 to $61.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.15.

Birkenstock Price Performance

The company has a quick ratio of 1.28, a current ratio of 2.85 and a debt-to-equity ratio of 0.80. The company’s fifty day moving average price is $47.70.

Birkenstock (NYSE:BIRK) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). The business had revenue of $303.00 million for the quarter, compared to the consensus estimate of $289.09 million. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. As a group, analysts anticipate that Birkenstock Holding plc will post 1.28 earnings per share for the current fiscal year.

Institutional Trading of Birkenstock

A number of institutional investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC acquired a new stake in shares of Birkenstock in the fourth quarter valued at approximately $26,000. Tower Research Capital LLC TRC purchased a new position in Birkenstock in the 4th quarter valued at about $77,000. Royal Bank of Canada purchased a new position in Birkenstock in the 4th quarter valued at about $78,000. Venturi Wealth Management LLC acquired a new stake in shares of Birkenstock during the 4th quarter worth about $83,000. Finally, CWM LLC grew its holdings in shares of Birkenstock by 358.2% during the first quarter. CWM LLC now owns 2,181 shares of the company’s stock worth $103,000 after buying an additional 1,705 shares in the last quarter. Hedge funds and other 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.