Stifel Nicolaus Forecasts Strong Price Appreciation for Birkenstock (NYSE:BIRK) Stock

Birkenstock (NYSE:BIRK) had its target price hoisted by investment analysts at Stifel Nicolaus from $62.00 to $70.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 23.46% from the stock’s previous close.

A number of other brokerages also recently issued reports on BIRK. Bank of America boosted their price target on shares of Birkenstock from $70.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday. BTIG Research lifted their target price on shares of Birkenstock from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday. BMO Capital Markets upped their price target on shares of Birkenstock from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday. Piper Sandler decreased their price target on Birkenstock from $70.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $70.00 price objective on shares of Birkenstock in a research note on Thursday. Two 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.63.

Birkenstock Stock Down 1.7%

Shares of BIRK opened at $56.70 on Friday. The stock’s 50-day moving average price is $48.32 and its two-hundred day moving average price is $51.68. Birkenstock has a 12 month low of $40.56 and a 12 month high of $64.78. The company has a market capitalization of $10.65 billion, a PE ratio of 45.73, a PEG ratio of 1.02 and a beta of 1.56. The company has a current ratio of 2.84, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48.

Birkenstock (NYSE:BIRK) last posted its quarterly earnings data on Thursday, May 15th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Birkenstock had a return on equity of 9.52% and a net margin of 11.73%. The company had revenue of $623.54 million for the quarter, compared to analyst estimates of $567.84 million. On average, analysts anticipate that Birkenstock will post 1.77 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC increased its holdings in shares of Birkenstock by 642.6% during the fourth quarter. Signaturefd LLC now owns 505 shares of the company’s stock valued at $29,000 after acquiring an additional 437 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Birkenstock in the 4th quarter valued at $34,000. NewEdge Advisors LLC acquired a new stake in Birkenstock in the 4th quarter valued at $45,000. Quarry LP increased its stake in Birkenstock by 120.3% during the 4th quarter. Quarry LP now owns 1,097 shares of the company’s stock valued at $62,000 after purchasing an additional 599 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in Birkenstock during the fourth quarter worth $76,000. 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.