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

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

A number of other analysts also recently issued reports on the company. Stifel Nicolaus reduced their price objective on Birkenstock from $70.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Telsey Advisory Group reissued an “outperform” rating and set a $70.00 target price on shares of Birkenstock in a research report on Thursday. UBS Group boosted their target price on Birkenstock from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Piper Sandler cut their target price on Birkenstock from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Finally, Robert W. Baird boosted their target price on Birkenstock from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.63.

Birkenstock Stock Performance

NYSE:BIRK opened at $56.70 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.84 and a quick ratio of 1.08. Birkenstock has a 1 year low of $40.56 and a 1 year high of $64.78. The stock’s 50 day simple moving average is $48.32 and its two-hundred day simple moving average is $51.72. The company has a market cap of $10.65 billion, a price-to-earnings ratio of 45.73, a PEG ratio of 1.02 and a beta of 1.56.

Birkenstock (NYSE:BIRK) last released its quarterly earnings data on Thursday, May 15th. The company reported $0.58 earnings per share (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 business had revenue of $623.54 million for the quarter, compared to the consensus estimate of $567.84 million. During the same quarter in the previous year, the company posted $0.38 EPS. The company’s revenue was up 19.3% compared to the same quarter last year. As a group, equities analysts anticipate that Birkenstock will post 1.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Birkenstock

Large investors have recently bought and sold shares of the business. Renaissance Capital LLC boosted its holdings in Birkenstock by 94.0% during the 4th quarter. Renaissance Capital LLC now owns 82,190 shares of the company’s stock valued at $4,657,000 after acquiring an additional 39,831 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in shares of Birkenstock in the 4th quarter worth $606,000. Handelsbanken Fonder AB purchased a new stake in shares of Birkenstock in the 4th quarter worth $391,000. Norges Bank purchased a new stake in shares of Birkenstock in the 4th quarter worth $131,786,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Birkenstock by 581.8% in the 4th 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.