Birkenstock (NYSE:BIRK) Earns Buy Rating from Analysts at BTIG Research

BTIG Research assumed coverage on shares of Birkenstock (NYSE:BIRK) in a report published on Thursday, Marketbeat Ratings reports. The firm issued a buy rating and a $60.00 target price on the stock.

Other equities research analysts have also issued reports about the stock. Stifel Nicolaus raised their price target on shares of Birkenstock from $63.00 to $70.00 and gave the company a buy rating in a report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft reiterated a buy rating and issued a $70.00 price target on shares of Birkenstock in a research note on Thursday, June 13th. UBS Group raised Birkenstock from a neutral rating to a buy rating and increased their price target for the company from $52.00 to $85.00 in a report on Monday, July 1st. Citigroup started coverage on Birkenstock in a report on Monday, July 1st. They set a buy rating and a $65.00 price objective on the stock. Finally, BNP Paribas assumed coverage on Birkenstock in a research note on Thursday, June 20th. They set an outperform rating and a $68.00 target price for the company. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Birkenstock presently has a consensus rating of Moderate Buy and an average price target of $62.11.

Birkenstock Trading Up 0.4 %

Shares of BIRK opened at $50.02 on Thursday. Birkenstock has a 12 month low of $35.83 and a 12 month high of $64.78. The stock’s 50-day moving average is $52.46 and its two-hundred day moving average is $51.72. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 1.49. The stock has a market cap of $9.40 billion and a PE ratio of 82.00.

Birkenstock (NYSE:BIRK) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). Birkenstock had a return on equity of 5.79% and a net margin of 6.26%. The company had revenue of $564.76 million for the quarter, compared to analyst estimates of $628.70 million. Equities analysts forecast that Birkenstock will post 1.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Birkenstock

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in Birkenstock by 33.7% in the third quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock valued at $44,000 after buying an additional 225 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Birkenstock by 30.4% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,000,000 shares of the company’s stock worth $163,230,000 after acquiring an additional 700,000 shares during the period. Ghisallo Capital Management LLC lifted its position in Birkenstock by 800.0% in the 2nd quarter. Ghisallo Capital Management LLC now owns 900,000 shares of the company’s stock valued at $48,969,000 after purchasing an additional 800,000 shares during the last quarter. Point72 Asset Management L.P. lifted its position in Birkenstock by 142.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 367,675 shares of the company’s stock valued at $20,005,000 after purchasing an additional 215,775 shares during the last quarter. Finally, Scientech Research LLC acquired a new position in Birkenstock during the 2nd quarter valued at about $774,000. 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.