BMO Capital Markets Raises Birkenstock (NYSE:BIRK) Price Target to $75.00

Birkenstock (NYSE:BIRK) had its target price increased by investment analysts at BMO Capital Markets from $70.00 to $75.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ target price points to a potential upside of 32.28% from the stock’s previous close.

Other research analysts have also issued reports about the company. BTIG Research lifted their target price on Birkenstock from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday. Stifel Nicolaus dropped their price target on Birkenstock from $70.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Telsey Advisory Group reiterated an “outperform” rating and issued a $70.00 price objective on shares of Birkenstock in a research report on Thursday. Robert W. Baird increased their target price on Birkenstock from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, UBS Group raised their target price on shares of Birkenstock from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Two investment 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 company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.63.

Birkenstock Stock Down 1.7%

Birkenstock stock opened at $56.70 on Friday. The firm has a market capitalization of $10.65 billion, a price-to-earnings ratio of 45.73, a PEG ratio of 1.02 and a beta of 1.56. The company’s 50 day simple moving average is $48.32 and its 200 day simple moving average is $51.68. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.84 and a quick ratio of 1.08. Birkenstock has a fifty-two week low of $40.56 and a fifty-two week high of $64.78.

Birkenstock (NYSE:BIRK) last announced 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 for the quarter, compared to analysts’ expectations of $567.84 million. As a group, sell-side analysts anticipate that Birkenstock will post 1.77 EPS for the current year.

Institutional Trading of Birkenstock

Institutional investors have recently made changes to their positions in the business. Signaturefd LLC grew its position 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 purchasing an additional 437 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Birkenstock during the 4th quarter worth about $34,000. NewEdge Advisors LLC acquired a new position in shares of Birkenstock during the 4th quarter worth about $45,000. Quarry LP boosted its stake in shares of 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 during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Birkenstock in the 4th quarter valued at about $76,000. Institutional investors 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.