Birkenstock (NYSE:BIRK) Sets New 12-Month Low – Time to Sell?

Birkenstock Holding plc (NYSE:BIRK) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $40.56 and last traded at $43.45, with a volume of 287105 shares changing hands. The stock had previously closed at $42.03.

Wall Street Analysts Forecast Growth

BIRK has been the subject of several recent research reports. Robert W. Baird lifted their price target on Birkenstock from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Piper Sandler assumed coverage on shares of Birkenstock in a research note on Tuesday, December 10th. They issued an “overweight” rating and a $65.00 target price on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Birkenstock from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. BMO Capital Markets increased their price objective on shares of Birkenstock from $60.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Finally, BTIG Research boosted their target price on Birkenstock from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Birkenstock has a consensus rating of “Moderate Buy” and a consensus target price of $68.31.

Birkenstock Price Performance

The firm has a fifty day moving average of $49.56 and a two-hundred day moving average of $51.44. The stock 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 company has a debt-to-equity ratio of 0.48, a current ratio of 2.84 and a quick ratio of 1.08.

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

Institutional Trading of Birkenstock

A number of hedge funds have recently bought and sold shares of BIRK. Norges Bank bought a new position in shares of Birkenstock in the 4th quarter worth $131,786,000. Marshall Wace LLP grew its stake in Birkenstock by 260.5% in the fourth quarter. Marshall Wace LLP now owns 1,100,692 shares of the company’s stock valued at $62,365,000 after purchasing an additional 795,382 shares during the last quarter. AGF Management Ltd. bought a new position in Birkenstock in the fourth quarter worth about $37,153,000. AXA S.A. purchased a new stake in shares of Birkenstock during the fourth quarter valued at about $29,050,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Birkenstock by 9,658.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 470,182 shares of the company’s stock valued at $26,641,000 after buying an additional 465,364 shares in the last quarter. Hedge funds and other institutional investors 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.