Birkenstock Holding plc’s Lock-Up Period Set To Expire on April 8th (NYSE:BIRK)

Birkenstock’s (NYSE:BIRK) lock-up period will expire on Monday, April 8th. Birkenstock had issued 32,258,064 shares in its IPO on October 11th. The total size of the offering was $1,483,870,944 based on an initial share price of $46.00. After the expiration of Birkenstock’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Analyst Ratings Changes

BIRK has been the subject of a number of analyst reports. Stifel Nicolaus increased their target price on Birkenstock from $47.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, December 14th. BMO Capital Markets boosted their price objective on shares of Birkenstock from $50.00 to $54.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Telsey Advisory Group cut shares of Birkenstock from an “outperform” rating to a “market perform” rating and set a $56.00 target price for the company. in a report on Thursday, February 29th. UBS Group lifted their price target on shares of Birkenstock from $51.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Finally, Piper Sandler upped their price target on Birkenstock from $56.50 to $61.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.15.

Birkenstock Stock Up 4.9 %

BIRK opened at $44.04 on Monday. The firm’s fifty day moving average is $47.70. Birkenstock has a 52 week low of $35.83 and a 52 week high of $55.00. The company has a current ratio of 2.85, a quick ratio of 1.28 and a debt-to-equity ratio of 0.80.

Birkenstock (NYSE:BIRK) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). The business had revenue of $303.00 million for the quarter, compared to the consensus estimate of $289.09 million. The business’s revenue was up 21.9% compared to the same quarter last year. On average, equities analysts expect that Birkenstock will post 1.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Birkenstock

Several hedge funds have recently made changes to their positions in BIRK. Venturi Wealth Management LLC purchased a new position in shares of Birkenstock during the 4th quarter worth about $83,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Birkenstock during the fourth quarter worth approximately $1,886,000. Federated Hermes Inc. acquired a new position in shares of Birkenstock in the 4th quarter valued at $27,152,000. New York State Common Retirement Fund purchased a new stake in shares of Birkenstock during the 4th quarter valued at $1,067,000. Finally, Amalgamated Bank purchased a new stake in shares of Birkenstock during the 4th quarter valued at $233,000. Institutional investors and hedge funds own 19.93% of the company’s stock.

Birkenstock Company Profile

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.