Birkenstock (NYSE:BIRK) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Birkenstock (NYSE:BIRK) had its price target boosted by analysts at Robert W. Baird from $65.00 to $70.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 23.46% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. Piper Sandler decreased their target price on Birkenstock from $70.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. UBS Group boosted their price objective on Birkenstock from $68.00 to $72.00 and gave the company a “buy” rating in a report on Monday, May 5th. Stifel Nicolaus reduced their price target on shares of Birkenstock from $70.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. BTIG Research upped their price objective on Birkenstock from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Telsey Advisory Group restated an “outperform” rating and set a $70.00 price objective on shares of Birkenstock in a research note on Thursday. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.63.

Birkenstock Stock Down 1.7%

BIRK stock opened at $56.70 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 2.84. The stock 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 50 day moving average price of $48.32 and a two-hundred day moving average price of $51.68. Birkenstock has a one year low of $40.56 and a one year high of $64.78.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. 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 valued at $29,000 after acquiring an additional 437 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Birkenstock in the fourth quarter valued at $34,000. NewEdge Advisors LLC bought a new position in shares of Birkenstock in the fourth quarter valued at approximately $45,000. Quarry LP lifted its position in Birkenstock by 120.3% during the 4th quarter. Quarry LP now owns 1,097 shares of the company’s stock worth $62,000 after buying an additional 599 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Birkenstock during the fourth quarter worth approximately $76,000. 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.