Birkenstock (NYSE:BIRK) Coverage Initiated at Citigroup

Investment analysts at Citigroup started coverage on shares of Birkenstock (NYSE:BIRK) in a report released on Monday, Marketbeat reports. The firm set a “buy” rating and a $65.00 price target on the stock. Citigroup’s price objective would indicate a potential upside of 17.20% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. increased their target price on shares of Birkenstock from $56.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, June 3rd. Telsey Advisory Group reiterated an “outperform” rating and issued a $56.00 target price on shares of Birkenstock in a research report on Thursday, May 30th. Robert W. Baird increased their target price on shares of Birkenstock from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. The Goldman Sachs Group downgraded shares of Birkenstock from a “buy” rating to a “neutral” rating and increased their target price for the stock from $54.20 to $58.00 in a research report on Wednesday, June 12th. Finally, Morgan Stanley increased their target price on shares of Birkenstock from $44.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 25th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.12.

Birkenstock Stock Up 0.2 %

Shares of NYSE:BIRK opened at $55.46 on Monday. Birkenstock has a 1-year low of $35.83 and a 1-year 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. The company has a 50 day moving average price of $52.00 and a 200 day moving average price of $48.80.

Birkenstock (NYSE:BIRK) last posted 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 firm had revenue of $522.51 million during the quarter, compared to analyst estimates of $499.98 million. As a group, equities analysts forecast that Birkenstock will post 1.36 earnings per share for the current fiscal year.

Institutional Trading of Birkenstock

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its position in Birkenstock by 377.1% in the 2nd quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $36,000 after purchasing an additional 528 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Birkenstock during the 1st quarter valued at about $40,000. Tower Research Capital LLC TRC acquired a new stake in shares of Birkenstock during the 4th quarter valued at about $77,000. Venturi Wealth Management LLC acquired a new stake in shares of Birkenstock during the 4th quarter valued at about $83,000. Finally, CWM LLC boosted its position in shares of Birkenstock by 358.2% during the 1st quarter. CWM LLC now owns 2,181 shares of the company’s stock valued at $103,000 after acquiring an additional 1,705 shares in the last quarter. 19.93% of the stock is currently owned by institutional investors and hedge funds.

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.