Birkenstock (NYSE:BIRK) Stock Price Expected to Rise, Bank of America Analyst Says

Birkenstock (NYSE:BIRK) had its target price raised by stock analysts at Bank of America from $70.00 to $73.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target points to a potential upside of 28.75% from the company’s previous close.

A number of other equities analysts have also issued reports on BIRK. Stifel Nicolaus decreased their price target on Birkenstock from $70.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. BTIG Research raised their target price on Birkenstock from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday. Telsey Advisory Group reaffirmed an “outperform” rating and set a $70.00 target price on shares of Birkenstock in a report on Thursday. Piper Sandler dropped their price target on shares of Birkenstock from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Finally, Robert W. Baird upped their price target on shares of Birkenstock from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.63.

Birkenstock Stock Performance

BIRK stock opened at $56.70 on Friday. The company has a 50-day simple moving average of $48.32 and a 200 day simple moving average of $51.68. The company has a market capitalization of $10.65 billion, a P/E ratio of 45.73, a PEG ratio of 1.02 and a beta of 1.56. 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 has a fifty-two week low of $40.56 and a fifty-two week high of $64.78.

Birkenstock (NYSE:BIRK) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. The company had revenue of $623.54 million during the quarter, compared to analyst estimates of $567.84 million. Sell-side analysts predict that Birkenstock will post 1.77 earnings per share for the current fiscal year.

Institutional Trading of Birkenstock

Hedge funds and other institutional investors have recently modified their holdings of the business. Signaturefd LLC raised its position in Birkenstock by 642.6% during 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 purchased a new position in Birkenstock during the 4th quarter valued at about $34,000. NewEdge Advisors LLC acquired a new position in shares of Birkenstock in the 4th quarter valued at about $45,000. Quarry LP lifted its position in shares of Birkenstock by 120.3% in the fourth quarter. Quarry LP now owns 1,097 shares of the company’s stock worth $62,000 after purchasing an additional 599 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Birkenstock in the fourth quarter worth approximately $76,000. Institutional investors and hedge funds 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.