Birkenstock (NYSE:BIRK) Price Target Raised to $73.00 at Bank of America

Birkenstock (NYSE:BIRK) had its price objective boosted by Bank of America from $70.00 to $73.00 in a research note issued to investors on Friday,Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other brokerages also recently commented on BIRK. Stifel Nicolaus decreased their price objective on shares of Birkenstock from $70.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Robert W. Baird lifted their price objective on shares of Birkenstock from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday. Telsey Advisory Group reissued an “outperform” rating and issued a $70.00 price objective on shares of Birkenstock in a research report on Thursday. BTIG Research lifted their price objective on shares of Birkenstock from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday. 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 research note 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.63.

Birkenstock Stock Down 1.7%

Birkenstock stock opened at $56.70 on Friday. The company has a market cap of $10.65 billion, a P/E ratio of 45.73, a price-to-earnings-growth ratio of 1.02 and a beta of 1.56. Birkenstock has a 1-year low of $40.56 and a 1-year high of $64.78. The company has a fifty day simple moving average of $48.32 and a 200 day simple moving average of $51.64. 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 announced its quarterly earnings data on Thursday, May 15th. The company reported $0.58 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $567.84 million. Research analysts anticipate that Birkenstock will post 1.77 earnings per share for the current fiscal year.

Institutional Trading of Birkenstock

Hedge funds and other institutional investors have recently bought and sold shares of the business. Signaturefd LLC raised its stake in Birkenstock by 642.6% in the 4th quarter. Signaturefd LLC now owns 505 shares of the company’s stock worth $29,000 after purchasing an additional 437 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Birkenstock in the 4th quarter worth about $34,000. NewEdge Advisors LLC acquired a new position in shares of Birkenstock in the 4th quarter valued at approximately $45,000. Quarry LP raised its position in shares of Birkenstock by 120.3% in the 4th quarter. Quarry LP now owns 1,097 shares of the company’s stock valued at $62,000 after buying an additional 599 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Birkenstock in the 4th quarter valued at approximately $76,000. Institutional investors and hedge funds 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.