Birkenstock (NYSE:BIRK) PT Raised to $58.00

Birkenstock (NYSE:BIRK) had its price target hoisted by equities research analysts at Morgan Stanley from $44.00 to $58.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 6.21% from the stock’s previous close.

Several other equities research analysts have also issued reports on BIRK. Telsey Advisory Group reissued an “outperform” rating and issued a $56.00 price target on shares of Birkenstock in a report on Thursday, May 30th. BMO Capital Markets boosted their price target on Birkenstock from $54.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Robert W. Baird raised their price objective on shares of Birkenstock from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Stifel Nicolaus boosted their price objective on Birkenstock from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Finally, BNP Paribas began coverage on shares of Birkenstock in a research report on Thursday, June 20th. They set an “outperform” rating and a $68.00 price target on the stock. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.56.

Birkenstock Stock Down 4.8 %

BIRK stock opened at $54.61 on Tuesday. The company has a 50-day moving average of $51.08 and a two-hundred day moving average of $48.63. Birkenstock has a 52-week low of $35.83 and a 52-week high of $61.83. 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 (NYSE:BIRK) last posted its quarterly 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 company had revenue of $522.51 million during the quarter, compared to analyst estimates of $499.98 million. Equities analysts anticipate that Birkenstock will post 1.36 EPS for the current year.

Hedge Funds Weigh In On Birkenstock

A number of large investors have recently added to or reduced their stakes in BIRK. Banque Cantonale Vaudoise acquired a new position in Birkenstock during the 1st quarter worth approximately $40,000. Tower Research Capital LLC TRC bought a new position in shares of Birkenstock in the fourth quarter valued at $77,000. Venturi Wealth Management LLC bought a new stake in Birkenstock during the fourth quarter worth $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 valued at $103,000 after acquiring an additional 1,705 shares during the last quarter. Finally, Connable Office Inc. bought a new position in shares of Birkenstock in the 4th quarter valued at about $216,000. Institutional investors own 19.93% of the company’s stock.

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.