Birkenstock (NYSE:BIRK) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Birkenstock (NYSE:BIRK) had its price objective increased by investment analysts at Stifel Nicolaus from $62.00 to $70.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 23.46% from the company’s previous close.

Other research analysts have also issued reports about the stock. Piper Sandler dropped their price target on shares of Birkenstock from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Robert W. Baird increased their price objective on shares of Birkenstock from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday. BMO Capital Markets lifted their target price on shares of Birkenstock from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday. UBS Group upped their target price on Birkenstock from $68.00 to $72.00 and gave the company a “buy” rating in a report on Monday, May 5th. Finally, BTIG Research increased their price target on Birkenstock from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.63.

Birkenstock Stock Down 1.7%

Shares of NYSE:BIRK opened at $56.70 on Friday. The business’s 50 day moving average is $48.32 and its 200 day moving average is $51.68. Birkenstock has a 12-month low of $40.56 and a 12-month high of $64.78. The stock 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. The company has a quick ratio of 1.08, a current ratio of 2.84 and a debt-to-equity ratio of 0.48.

Birkenstock (NYSE:BIRK) last issued its quarterly earnings data on Thursday, May 15th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $567.84 million. On average, sell-side analysts forecast that Birkenstock will post 1.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Birkenstock

Large investors have recently added to or reduced their stakes in the company. Signaturefd LLC lifted its holdings in Birkenstock by 642.6% during the fourth quarter. Signaturefd LLC now owns 505 shares of the company’s stock valued at $29,000 after purchasing an additional 437 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Birkenstock in the fourth quarter valued at approximately $34,000. NewEdge Advisors LLC purchased a new stake in shares of Birkenstock during the 4th quarter valued at approximately $45,000. Quarry LP lifted its stake in shares of 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 in the last quarter. Finally, Headlands Technologies LLC bought a new position in Birkenstock in the 4th quarter worth approximately $76,000. 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.