Birkenstock (NYSE:BIRK) Reaches New 52-Week Low – Should You Sell?

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Birkenstock from $65.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, December 19th. BMO Capital Markets lifted their price target on shares of Birkenstock from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Piper Sandler lowered their price objective on shares of Birkenstock from $70.00 to $60.00 and set an “overweight” rating on the stock in a research note on Friday. BTIG Research boosted their price target on Birkenstock from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $70.00 target price on shares of Birkenstock in a research report on Thursday, February 20th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.50.

Birkenstock Trading Up 1.7 %

The company’s fifty day moving average price is $48.88 and its two-hundred day moving average price is $51.39. The company has a market cap of $9.03 billion, a price-to-earnings ratio of 38.76, a price-to-earnings-growth ratio of 1.02 and a beta of 1.71. The company has a quick ratio of 1.08, a current ratio of 2.84 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 EPS for the quarter, topping the consensus estimate of $0.16 by $0.03. The company had revenue of $385.88 million during the quarter, compared to analysts’ expectations of $355.80 million. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. Research analysts expect that Birkenstock Holding plc will post 1.77 earnings per share for the current year.

Institutional Investors Weigh In On Birkenstock

A number of institutional investors and hedge funds have recently made changes to their positions in BIRK. Quarry LP bought a new position in Birkenstock during the 3rd quarter worth $25,000. Signaturefd LLC increased its stake in shares of Birkenstock by 642.6% in the fourth quarter. Signaturefd LLC now owns 505 shares of the company’s stock valued at $29,000 after buying an additional 437 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Birkenstock during the fourth quarter worth $34,000. NewEdge Advisors LLC acquired a new stake in shares of Birkenstock in the fourth quarter valued at about $45,000. Finally, Headlands Technologies LLC acquired a new position in shares of Birkenstock in the 4th quarter worth approximately $76,000. 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.