Brokerages Set Birkenstock Holding PLC (NYSE:BIRK) PT at $68.38

Shares of Birkenstock Holding PLC (NYSE:BIRK) have received a consensus recommendation of “Buy” from the sixteen research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $68.3846.

A number of equities research analysts have recently issued reports on the company. Telsey Advisory Group restated an “outperform” rating and set a $70.00 price objective on shares of Birkenstock in a report on Friday, September 26th. JPMorgan Chase & Co. lowered their price objective on Birkenstock from $81.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, September 19th. UBS Group set a $77.00 target price on shares of Birkenstock and gave the company a “buy” rating in a research report on Tuesday, August 5th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Birkenstock in a research report on Tuesday.

Birkenstock Price Performance

Shares of BIRK opened at $43.56 on Tuesday. The firm has a market capitalization of $8.18 billion, a PE ratio of 24.20, a PEG ratio of 0.83 and a beta of 1.22. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.78 and a quick ratio of 1.29. The company’s 50-day moving average is $42.40 and its 200-day moving average is $48.04. Birkenstock has a fifty-two week low of $38.16 and a fifty-two week high of $62.66.

Institutional Investors Weigh In On Birkenstock

Several institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its position in shares of Birkenstock by 2,514.6% in the first quarter. PNC Financial Services Group Inc. now owns 8,785 shares of the company’s stock worth $403,000 after purchasing an additional 8,449 shares during the period. Peregrine Capital Management LLC bought a new position in Birkenstock in the 2nd quarter valued at about $8,422,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Birkenstock in the 2nd quarter valued at approximately $320,000. AGF Management Ltd. lifted its holdings in shares of Birkenstock by 72.8% during the 2nd quarter. AGF Management Ltd. now owns 2,038,210 shares of the company’s stock worth $100,239,000 after acquiring an additional 858,522 shares during the period. Finally, U S Global Investors Inc. acquired a new stake in shares of Birkenstock during the 2nd quarter worth approximately $861,000. 19.93% of the stock is currently owned by institutional investors.

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.