Stifel Nicolaus Issues Positive Forecast for Birkenstock (NYSE:BIRK) Stock Price

Birkenstock (NYSE:BIRK) had its price target increased by Stifel Nicolaus from $62.00 to $70.00 in a research report released on Friday,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts also recently issued reports about the company. 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 note on Friday, April 11th. BTIG Research upped their price target on Birkenstock from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday. BMO Capital Markets upped their price target on Birkenstock from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday. UBS Group upped their price target on Birkenstock from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $70.00 price target on shares of Birkenstock in a research note on Thursday. Two 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $67.63.

Birkenstock Trading Down 1.7%

Shares of NYSE:BIRK opened at $56.70 on Friday. The stock has a 50 day moving average of $48.32 and a 200 day moving average of $51.72. The company has a market cap of $10.65 billion, a PE ratio of 45.73, a price-to-earnings-growth ratio of 1.02 and a beta of 1.56. 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 has a 12-month low of $40.56 and a 12-month high of $64.78.

Birkenstock (NYSE:BIRK) last announced its quarterly earnings data on Thursday, May 15th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The company had revenue of $623.54 million during the quarter, compared to the consensus estimate of $567.84 million. Birkenstock had a return on equity of 9.52% and a net margin of 11.73%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 EPS. As a group, equities research analysts expect that Birkenstock will post 1.77 EPS for the current year.

Institutional Trading of Birkenstock

Hedge funds have recently modified their holdings of the company. Signaturefd LLC raised its holdings in Birkenstock by 642.6% during the 4th quarter. Signaturefd LLC now owns 505 shares of the company’s stock valued at $29,000 after buying an additional 437 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Birkenstock during the 4th quarter valued at $34,000. NewEdge Advisors LLC purchased a new stake in Birkenstock during the 4th quarter valued at $45,000. Quarry LP raised its holdings in Birkenstock by 120.3% during 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 during the period. Finally, Headlands Technologies LLC purchased a new stake in Birkenstock during the 4th quarter valued at $76,000. 19.93% of the stock is owned by hedge funds and other institutional investors.

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.