Piper Sandler Has Lowered Expectations for Birkenstock (NYSE:BIRK) Stock Price

Birkenstock (NYSE:BIRK) had its price objective cut by Piper Sandler from $70.00 to $60.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target suggests a potential upside of 24.84% from the company’s current price.

A number of other equities research analysts have also recently commented on BIRK. Stifel Nicolaus dropped their price objective on shares of Birkenstock from $70.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday. BMO Capital Markets upped 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. Deutsche Bank Aktiengesellschaft raised their price objective on Birkenstock from $65.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, December 19th. BTIG Research increased 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. Finally, Robert W. Baird boosted their price target on shares of Birkenstock from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Birkenstock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.50.

Birkenstock Price Performance

Shares of BIRK opened at $48.06 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.84 and a quick ratio of 1.08. The company’s fifty day moving average price is $48.71 and its 200-day moving average price is $51.38. Birkenstock has a 1-year low of $40.56 and a 1-year high of $64.78. The firm has a market capitalization of $9.03 billion, a PE ratio of 38.76, a price-to-earnings-growth ratio of 1.02 and a beta of 1.71.

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

Institutional Inflows and Outflows

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