Birkenstock (NYSE:BIRK) Price Target Raised to $64.00

Birkenstock (NYSE:BIRK) had its price objective hoisted by JPMorgan Chase & Co. from $56.00 to $64.00 in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

BIRK has been the topic of several other reports. UBS Group boosted their target price on shares of Birkenstock from $51.00 to $52.00 and gave the company a neutral rating in a report on Monday, March 4th. Telsey Advisory Group reiterated an outperform rating and issued a $56.00 price objective on shares of Birkenstock in a research report on Thursday, May 30th. Robert W. Baird lifted their target price on Birkenstock from $58.00 to $65.00 and gave the company an outperform rating in a research report on Friday, May 31st. Evercore ISI increased their price target on Birkenstock from $54.00 to $63.00 and gave the stock an outperform rating in a report on Friday, May 31st. Finally, Stifel Nicolaus boosted their price objective on shares of Birkenstock from $54.00 to $63.00 and gave the company a buy rating in a report on Friday, May 31st. Seven research 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, Birkenstock has an average rating of Moderate Buy and an average price target of $53.26.

Birkenstock Trading Up 2.2 %

Shares of NYSE BIRK opened at $59.29 on Monday. The company has a quick ratio of 1.13, a current ratio of 2.87 and a debt-to-equity ratio of 0.56. Birkenstock has a 12-month low of $35.83 and a 12-month high of $59.48. The company has a 50-day moving average of $46.34 and a 200 day moving average of $47.09.

Birkenstock (NYSE:BIRK) last announced its quarterly earnings data on Thursday, May 30th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.09. The company had revenue of $522.51 million for the quarter, compared to analysts’ expectations of $499.98 million. On average, sell-side analysts expect that Birkenstock will post 1.33 EPS for the current fiscal year.

Institutional Trading of Birkenstock

Several hedge funds have recently modified their holdings of the stock. Banque Cantonale Vaudoise purchased a new stake in Birkenstock during the 1st quarter worth about $40,000. Tower Research Capital LLC TRC acquired a new stake in Birkenstock in the fourth quarter valued at approximately $77,000. Venturi Wealth Management LLC acquired a new stake in Birkenstock in the fourth quarter valued at approximately $83,000. CWM LLC lifted its stake in Birkenstock by 358.2% in the first quarter. CWM LLC now owns 2,181 shares of the company’s stock worth $103,000 after acquiring an additional 1,705 shares during the last quarter. Finally, Connable Office Inc. acquired a new position in Birkenstock during the 4th quarter worth approximately $216,000. 19.93% of the stock is currently owned by institutional investors and hedge funds.

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.