Birkenstock (NYSE:BIRK) Stock Rating Reaffirmed by Evercore ISI

Birkenstock (NYSE:BIRK)‘s stock had its “outperform” rating reaffirmed by analysts at Evercore ISI in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $77.00 price target on the stock, up from their previous price target of $63.00. Evercore ISI’s price objective indicates a potential upside of 20.29% from the company’s current price.

Other analysts also recently issued reports about the stock. Telsey Advisory Group lifted their price objective on shares of Birkenstock from $63.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday. Stifel Nicolaus upped their price objective on Birkenstock from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Friday. BMO Capital Markets increased their price objective on Birkenstock from $54.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. The Goldman Sachs Group downgraded Birkenstock from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $54.20 to $58.00 in a research report on Wednesday, June 12th. Finally, UBS Group raised shares of Birkenstock from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $52.00 to $85.00 in a research note on Monday, July 1st. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.23.

Birkenstock Stock Up 0.7 %

Shares of NYSE BIRK opened at $64.01 on Monday. The stock’s 50-day simple moving average is $57.63 and its two-hundred day simple moving average is $51.55. Birkenstock has a twelve month low of $35.83 and a twelve month high of $64.01. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 2.87.

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

Institutional Trading of Birkenstock

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIRK. New York State Common Retirement Fund purchased a new stake in Birkenstock in the fourth quarter worth about $1,067,000. Amalgamated Bank purchased a new position in shares of Birkenstock in the 4th quarter valued at approximately $233,000. Teacher Retirement System of Texas bought a new stake in shares of Birkenstock during the fourth quarter valued at approximately $1,949,000. Seven Grand Managers LLC purchased a new stake in Birkenstock in the fourth quarter worth $2,436,000. Finally, Norges Bank bought a new position in Birkenstock in the fourth quarter worth $177,068,000. Hedge funds and other institutional investors 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.