Birkenstock (NYSE:BIRK) Sees Unusually-High Trading Volume - Should You Buy?

Birkenstock Holding plc (NYSE:BIRK - Get Free Report) shares saw an uptick in trading volume on Thursday . 1,421,573 shares were traded during mid-day trading, a decline of 6% from the previous session's volume of 1,513,382 shares.The stock last traded at $53.85 and had previously closed at $54.30.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Stifel Nicolaus increased their price target on shares of Birkenstock from $62.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. BMO Capital Markets raised their price objective on shares of Birkenstock from $70.00 to $75.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Piper Sandler decreased their price target on shares of Birkenstock from $70.00 to $60.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Telsey Advisory Group reissued an "outperform" rating and set a $70.00 target price on shares of Birkenstock in a research note on Thursday, May 15th. Finally, UBS Group boosted their target price on shares of Birkenstock from $72.00 to $76.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Birkenstock has an average rating of "Moderate Buy" and an average price target of $67.19.

Birkenstock Stock Up 0.7%

The firm has a market capitalization of $10.11 billion, a P/E ratio of 43.39, a PEG ratio of 1.02 and a beta of 1.56. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 2.84. The business's fifty day moving average price is $50.15 and its two-hundred day moving average price is $52.20.

Birkenstock (NYSE:BIRK - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. The firm had revenue of $623.54 million during the quarter, compared to analysts' expectations of $567.84 million. During the same period in the previous year, the business posted $0.38 EPS. The business's revenue was up 19.3% compared to the same quarter last year. Equities analysts expect that Birkenstock Holding plc will post 1.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BIRK. Rhumbline Advisers raised its stake in shares of Birkenstock by 5.9% during the first quarter. Rhumbline Advisers now owns 31,957 shares of the company's stock valued at $1,465,000 after purchasing an additional 1,776 shares in the last quarter. Strs Ohio bought a new stake in shares of Birkenstock in the 1st quarter valued at approximately $1,134,000. Woodline Partners LP boosted its position in Birkenstock by 100.6% during the first quarter. Woodline Partners LP now owns 383,570 shares of the company's stock worth $17,587,000 after purchasing an additional 192,351 shares during the period. Arete Wealth Advisors LLC bought a new stake in Birkenstock during the first quarter worth approximately $466,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Birkenstock by 27.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,074,283 shares of the company's stock worth $49,256,000 after buying an additional 233,672 shares during the last quarter. Hedge funds and other institutional investors own 19.93% of the company's stock.

Birkenstock Company Profile

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.