JPMorgan Chase & Co. Increases Birkenstock (NYSE:BIRK) Price Target to $64.00

Birkenstock (NYSE:BIRKGet Free Report) had its price target lifted by stock analysts at JPMorgan Chase & Co. from $56.00 to $64.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 13.98% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. BMO Capital Markets lifted their price target on Birkenstock from $54.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday. Stifel Nicolaus increased their price target on Birkenstock from $54.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday. Evercore ISI lifted their price target on shares of Birkenstock from $54.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday. UBS Group lifted their price objective on Birkenstock from $51.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $56.00 price target on shares of Birkenstock in a research note on Thursday. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.26.

Check Out Our Latest Analysis on BIRK

Birkenstock Stock Down 1.5 %

BIRK stock traded down $0.85 during midday trading on Monday, reaching $56.15. The stock had a trading volume of 359,653 shares, compared to its average volume of 737,099. The firm has a fifty day simple moving average of $45.84 and a two-hundred day simple moving average of $46.86. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 2.87. Birkenstock has a 52-week low of $35.83 and a 52-week high of $58.67.

Birkenstock (NYSE:BIRKGet Free Report) last issued its earnings results on Thursday, May 30th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.09. The business had revenue of $522.51 million for the quarter, compared to analysts’ expectations of $499.98 million. On average, research analysts forecast that Birkenstock will post 1.32 earnings per share for the current year.

Institutional Investors Weigh In On Birkenstock

Institutional investors and hedge funds have recently made changes to their positions in the company. Venturi Wealth Management LLC acquired a new stake in shares of Birkenstock during the fourth quarter worth $83,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Birkenstock during the fourth quarter worth about $1,886,000. Federated Hermes Inc. bought a new position in Birkenstock in the fourth quarter worth about $27,152,000. New York State Common Retirement Fund acquired a new position in Birkenstock in the fourth quarter valued at approximately $1,067,000. Finally, Amalgamated Bank bought a new position in shares of Birkenstock during the fourth quarter valued at approximately $233,000. 19.93% of the stock is owned by institutional investors and hedge funds.

About Birkenstock

(Get Free Report)

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.

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