Analysts Set Birkenstock Holding plc (NYSE:BIRK) Price Target at $67.19

Birkenstock Holding plc (NYSE:BIRK) has been given an average rating of “Moderate Buy” by the seventeen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $67.40.

Several equities research analysts have weighed in on the stock. Stifel Nicolaus increased their price target on shares of Birkenstock from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, May 16th. UBS Group upped their price objective on shares of Birkenstock from $72.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, May 16th. William Blair reissued an “outperform” rating on shares of Birkenstock in a research note on Tuesday, June 3rd. Robert W. Baird boosted their price target on Birkenstock from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Finally, Piper Sandler lowered their price target on Birkenstock from $70.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, April 11th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BIRK. Norges Bank bought a new position in shares of Birkenstock in the 4th quarter worth approximately $131,786,000. Westfield Capital Management Co. LP bought a new position in shares of Birkenstock in the 1st quarter worth approximately $72,108,000. Nuveen LLC bought a new position in shares of Birkenstock in the 1st quarter worth approximately $52,385,000. T. Rowe Price Investment Management Inc. raised its position in shares of Birkenstock by 25.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,167,145 shares of the company’s stock worth $236,914,000 after acquiring an additional 1,042,891 shares in the last quarter. Finally, Marshall Wace LLP raised its position in shares of Birkenstock by 260.5% in the 4th quarter. Marshall Wace LLP now owns 1,100,692 shares of the company’s stock worth $62,365,000 after acquiring an additional 795,382 shares in the last quarter. Institutional investors own 19.93% of the company’s stock.

Birkenstock Stock Down 0.8%

BIRK opened at $54.78 on Tuesday. Birkenstock has a 12 month low of $40.56 and a 12 month high of $64.78. The company has a current ratio of 2.84, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48. The business’s 50-day moving average price is $51.02 and its 200-day moving average price is $52.58. The company has a market cap of $10.29 billion, a P/E ratio of 44.18, a P/E/G ratio of 1.02 and a beta of 1.48.

Birkenstock (NYSE:BIRK) last announced its quarterly earnings results on Thursday, May 15th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $623.54 million for the quarter, compared to analysts’ expectations of $567.84 million. Birkenstock had a return on equity of 9.52% and a net margin of 11.73%. The business’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS. On average, equities analysts expect that Birkenstock will post 1.77 EPS for the current year.

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.