BTIG Research Issues Positive Forecast for Birkenstock (NYSE:BIRK) Stock Price

Birkenstock (NYSE:BIRK) had its price target hoisted by BTIG Research from $70.00 to $72.00 in a research report sent to investors on Thursday, Marketbeat.com reports. The firm currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the company. Telsey Advisory Group reiterated an “outperform” rating and set a $70.00 price objective on shares of Birkenstock in a research note on Thursday. UBS Group lifted their price objective on Birkenstock from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Piper Sandler lowered their price objective on Birkenstock from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Finally, Stifel Nicolaus lowered their target price on Birkenstock from $70.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $66.19.

Birkenstock Stock Performance

Shares of BIRK opened at $57.72 on Thursday. Birkenstock has a 12 month low of $40.56 and a 12 month high of $64.78. The stock has a fifty day moving average price of $48.09 and a 200-day moving average price of $51.58. The company has a current ratio of 2.84, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48. The firm has a market cap of $10.84 billion, a PE ratio of 46.55, a P/E/G ratio of 1.02 and a beta of 1.56.

Birkenstock (NYSE:BIRK) last released its earnings results on Thursday, February 20th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.03. Birkenstock had a return on equity of 9.52% and a net margin of 11.73%. The firm had revenue of $385.88 million for the quarter, compared to the consensus estimate of $355.80 million. Equities research analysts predict that Birkenstock will post 1.77 earnings per share for the current fiscal year.

Institutional Trading of Birkenstock

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIRK. Renaissance Capital LLC increased its position in shares of Birkenstock by 94.0% during the fourth quarter. Renaissance Capital LLC now owns 82,190 shares of the company’s stock worth $4,657,000 after acquiring an additional 39,831 shares during the period. Oppenheimer & Co. Inc. acquired a new position in Birkenstock in the fourth quarter valued at $606,000. Handelsbanken Fonder AB acquired a new position in Birkenstock in the fourth quarter valued at $391,000. Norges Bank acquired a new stake in shares of Birkenstock during the fourth quarter worth about $131,786,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Birkenstock by 581.8% during the fourth quarter. Principal Financial Group Inc. now owns 542,798 shares of the company’s stock worth $30,755,000 after buying an additional 463,191 shares during the period. Hedge funds and other 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.