Birkenstock Holding PLC (NYSE:BIRK) Given Consensus Recommendation of "Buy" by Analysts

Key Points

• Birkenstock Holding PLC has received a consensus rating of "Buy" from fourteen analysts, with an average one-year price target of $68.58.
• Institutional investors have shown increased interest, with notable stakes raised by firms such as Balyasny Asset Management and Holocene Advisors, highlighting a growing confidence in the company.
• In its latest quarterly earnings, Birkenstock reported earnings per share of $0.70, exceeding estimates, and achieving a revenue of $749.13 million, which is up 12.4% compared to the prior year.

Shares of Birkenstock Holding PLC (NYSE:BIRK - Get Free Report) have earned an average rating of "Buy" from the fourteen ratings firms that are covering the firm, Marketbeat Ratings reports. Thirteen analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $68.5833.

A number of equities research analysts have weighed in on BIRK shares. BMO Capital Markets upped their target price on Birkenstock from $70.00 to $75.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Telsey Advisory Group restated an "outperform" rating and issued a $70.00 target price on shares of Birkenstock in a research report on Thursday, August 14th. Bank of America upped their price objective on Birkenstock from $70.00 to $73.00 and gave the company a "buy" rating in a report on Friday, May 16th. UBS Group set a $77.00 price objective on Birkenstock and gave the company a "buy" rating in a report on Tuesday, August 5th. Finally, BTIG Research upped their price target on shares of Birkenstock from $70.00 to $72.00 and gave the company a "buy" rating in a report on Thursday, May 15th.

Institutional Trading of Birkenstock

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Balyasny Asset Management L.P. lifted its position in shares of Birkenstock by 214.3% during the 2nd quarter. Balyasny Asset Management L.P. now owns 2,991,187 shares of the company's stock valued at $147,107,000 after acquiring an additional 2,039,623 shares during the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of Birkenstock during the first quarter valued at $72,108,000. Norges Bank purchased a new stake in shares of Birkenstock during the second quarter valued at $62,097,000. Holocene Advisors LP lifted its holdings in shares of Birkenstock by 239.3% during the second quarter. Holocene Advisors LP now owns 1,748,348 shares of the company's stock valued at $85,984,000 after purchasing an additional 1,233,085 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Birkenstock during the first quarter valued at $52,385,000. 19.93% of the stock is owned by institutional investors and hedge funds.

Birkenstock Stock Performance

BIRK stock opened at $46.87 on Thursday. The company has a market capitalization of $8.80 billion, a P/E ratio of 26.04, a PEG ratio of 1.06 and a beta of 1.31. The company has a 50-day simple moving average of $49.88 and a 200 day simple moving average of $49.91. Birkenstock has a fifty-two week low of $40.56 and a fifty-two week high of $62.66. The company has a quick ratio of 1.29, a current ratio of 2.78 and a debt-to-equity ratio of 0.50.

Birkenstock (NYSE:BIRK - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.03. The business had revenue of $749.13 million during the quarter, compared to the consensus estimate of $641.18 million. Birkenstock had a net margin of 15.21% and a return on equity of 11.52%. The company's quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.40 earnings per share. Birkenstock has set its FY 2025 guidance at EPS. Sell-side analysts predict that Birkenstock will post 1.77 earnings per share for the current fiscal year.

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.

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