Birkenstock (NYSE:BIRK) Sets New 1-Year Low – Here’s What Happened

Birkenstock Holding plc (NYSE:BIRK)’s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $40.56 and last traded at $43.45, with a volume of 287105 shares. The stock had previously closed at $42.03.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BIRK. Robert W. Baird boosted their price target on Birkenstock from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. BMO Capital Markets upped their target price on shares of Birkenstock from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Birkenstock from $65.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Piper Sandler assumed coverage on shares of Birkenstock in a report on Tuesday, December 10th. They set an “overweight” rating and a $65.00 price objective for the company. Finally, UBS Group raised their target price on shares of Birkenstock from $83.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Birkenstock presently has an average rating of “Moderate Buy” and a consensus price target of $68.31.

Birkenstock Trading Up 2.2 %

The company has a market capitalization of $8.07 billion, a P/E ratio of 34.63, a P/E/G ratio of 1.02 and a beta of 1.71. The stock has a 50 day moving average of $49.56 and a 200-day moving average of $51.44. The company has a current ratio of 2.84, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48.

Birkenstock (NYSE:BIRK) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Birkenstock had a return on equity of 9.52% and a net margin of 11.73%. The business had revenue of $385.88 million during the quarter, compared to analyst estimates of $355.80 million. On average, research analysts predict that Birkenstock Holding plc will post 1.77 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its stake in Birkenstock by 5.9% in the 1st quarter. Rhumbline Advisers now owns 31,957 shares of the company’s stock worth $1,465,000 after purchasing an additional 1,776 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Birkenstock by 3,914.1% in the first quarter. GAMMA Investing LLC now owns 30,949 shares of the company’s stock worth $1,419,000 after buying an additional 30,178 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Birkenstock by 170.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,538 shares of the company’s stock valued at $4,110,000 after buying an additional 45,700 shares in the last quarter. Woodline Partners LP increased its stake in Birkenstock by 129.7% in the 4th quarter. Woodline Partners LP now owns 191,219 shares of the company’s stock worth $10,834,000 after acquiring an additional 107,981 shares during the last quarter. Finally, Tairen Capital Ltd purchased a new stake in shares of Birkenstock during the 4th quarter worth approximately $1,133,000. 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.