Birkenstock (NYSE:BIRK) Shares Gap Down - Time to Sell?

Birkenstock Holding plc (NYSE:BIRK - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $55.05, but opened at $51.51. Birkenstock shares last traded at $53.57, with a volume of 1,046,499 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have commented on BIRK. BMO Capital Markets upped their price objective on Birkenstock from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Evercore ISI increased their price target on Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. UBS Group increased their price objective on shares of Birkenstock from $72.00 to $76.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Bank of America raised their price objective on Birkenstock from $70.00 to $73.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $70.00 target price on shares of Birkenstock in a research report on Thursday, May 15th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Birkenstock currently has an average rating of "Moderate Buy" and an average price target of $67.19.

Birkenstock Trading Up 0.2%

The business has a 50 day moving average of $49.72 and a two-hundred day moving average of $52.09. 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 firm has a market capitalization of $10.20 billion, a price-to-earnings ratio of 43.79, a P/E/G ratio of 1.02 and a beta of 1.56.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Signaturefd LLC raised its stake in shares of Birkenstock by 66.5% in the first quarter. Signaturefd LLC now owns 841 shares of the company's stock worth $39,000 after purchasing an additional 336 shares during the last quarter. Legal & General Group Plc raised its position in Birkenstock by 12.3% in the 4th quarter. Legal & General Group Plc now owns 3,158 shares of the company's stock valued at $179,000 after buying an additional 347 shares during the last quarter. Malaga Cove Capital LLC raised its position in Birkenstock by 3.5% in the 4th quarter. Malaga Cove Capital LLC now owns 12,108 shares of the company's stock valued at $686,000 after buying an additional 407 shares during the last quarter. NewEdge Advisors LLC raised its position in Birkenstock by 61.0% in the 1st quarter. NewEdge Advisors LLC now owns 1,288 shares of the company's stock valued at $59,000 after buying an additional 488 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Birkenstock in the 4th quarter valued at $34,000. Institutional investors and hedge funds 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.