Birkenstock (NYSE:BIRK) Receives “Outperform” Rating from William Blair

William Blair reiterated their outperform rating on shares of Birkenstock (NYSE:BIRK) in a research note released on Tuesday morning,RTT News reports.

A number of other brokerages have also recently issued reports on BIRK. Evercore ISI upped their target price on shares of Birkenstock from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, May 19th. Telsey Advisory Group restated an “outperform” rating and issued a $70.00 price objective on shares of Birkenstock in a research note on Thursday, May 15th. Piper Sandler cut their price objective 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 target price on Birkenstock from $72.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, May 16th. Finally, BMO Capital Markets increased their price target on Birkenstock from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. 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. Based on data from MarketBeat, Birkenstock has an average rating of “Moderate Buy” and a consensus target price of $67.40.

Birkenstock Trading Up 1.3%

Shares of Birkenstock stock opened at $55.26 on Tuesday. The stock has a market cap of $10.38 billion, a P/E ratio of 44.56, a P/E/G 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 12-month low of $40.56 and a 12-month high of $64.78. The business’s 50 day moving average is $50.46 and its 200-day moving average is $52.39.

Birkenstock (NYSE:BIRK) last posted its quarterly earnings results on Thursday, May 15th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. The firm had revenue of $623.54 million for the quarter, compared to analyst estimates of $567.84 million. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 earnings per share. Equities research analysts predict that Birkenstock will post 1.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Birkenstock

Institutional investors have recently modified their holdings of the business. Norges Bank bought a new position in Birkenstock during the fourth quarter worth about $131,786,000. Westfield Capital Management Co. LP acquired a new stake in shares of Birkenstock in the first quarter valued at approximately $72,108,000. Nuveen LLC acquired a new stake in shares of Birkenstock in the first quarter valued at approximately $52,385,000. T. Rowe Price Investment Management Inc. boosted its stake in shares of Birkenstock by 25.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,167,145 shares of the company’s stock valued at $236,914,000 after buying an additional 1,042,891 shares during the period. Finally, Marshall Wace LLP grew its position in Birkenstock by 260.5% during the fourth quarter. Marshall Wace LLP now owns 1,100,692 shares of the company’s stock worth $62,365,000 after buying an additional 795,382 shares in the last quarter. 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.