Birkenstock (NYSE:BIRK) Shares Gap Down to $60.70

Birkenstock Holding plc (NYSE:BIRK) shares gapped down before the market opened on Thursday . The stock had previously closed at $60.70, but opened at $54.08. Birkenstock shares last traded at $51.65, with a volume of 1,194,688 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Robert W. Baird boosted their target price on Birkenstock from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, May 31st. Stifel Nicolaus boosted their target price on Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a report on Friday, August 23rd. BNP Paribas assumed coverage on Birkenstock in a report on Thursday, June 20th. They issued an “outperform” rating and a $68.00 target price on the stock. Bank of America raised Birkenstock from a “neutral” rating to a “buy” rating and boosted their target price for the company from $62.00 to $65.00 in a report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $70.00 target price on shares of Birkenstock in a report on Thursday, June 13th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Birkenstock has an average rating of “Moderate Buy” and an average target price of $62.23.

Birkenstock Trading Down 16.0 %

The stock has a 50-day simple moving average of $57.72 and a 200 day simple moving average of $51.81. The company has a current ratio of 2.87, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56.

Birkenstock (NYSE:BIRK) last issued its quarterly earnings data on Thursday, May 30th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.09. The company had revenue of $522.51 million during the quarter, compared to analysts’ expectations of $499.98 million. On average, equities analysts anticipate that Birkenstock Holding plc will post 1.37 earnings per share for the current year.

Institutional Trading of Birkenstock

Several institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in shares of Birkenstock by 377.1% in the second quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock valued at $36,000 after acquiring an additional 528 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in Birkenstock in the first quarter valued at $40,000. CWM LLC increased its stake in Birkenstock by 358.2% in the first quarter. CWM LLC now owns 2,181 shares of the company’s stock valued at $103,000 after purchasing an additional 1,705 shares during the last quarter. Venturi Wealth Management LLC increased its stake in Birkenstock by 123.5% in the first quarter. Venturi Wealth Management LLC now owns 3,800 shares of the company’s stock valued at $180,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Birkenstock in the second quarter valued at $136,000. 19.93% of the stock is currently owned by hedge funds and other 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.