Birkenstock (NYSE:BIRK) Price Target Raised to $70.00 at Evercore ISI

Birkenstock (NYSE:BIRK) had its price objective hoisted by stock analysts at Evercore ISI from $65.00 to $70.00 in a report released on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s price objective indicates a potential upside of 23.46% from the company’s previous close.

A number of other research firms have also weighed in on BIRK. Robert W. Baird boosted their price objective on Birkenstock from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday. BMO Capital Markets lifted their price target on Birkenstock from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday. Bank of America boosted their price target on shares of Birkenstock from $70.00 to $73.00 and gave the company a “buy” rating in a research report on Friday. BTIG Research raised their price objective on shares of Birkenstock from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, UBS Group boosted their target price on shares of Birkenstock from $72.00 to $76.00 and gave the company a “buy” rating in a report on Friday. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Birkenstock has an average rating of “Moderate Buy” and an average price target of $67.19.

Birkenstock Stock Performance

BIRK opened at $56.70 on Monday. Birkenstock has a twelve month low of $40.56 and a twelve month high of $64.78. The firm has a market capitalization of $10.65 billion, a PE ratio of 45.73, a PEG ratio of 1.02 and a beta of 1.56. 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 firm’s 50-day moving average price is $48.32 and its 200 day moving average price is $51.72.

Birkenstock (NYSE:BIRK) last issued its earnings results on Thursday, May 15th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate 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 revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 EPS. As a group, sell-side analysts expect that Birkenstock will post 1.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Birkenstock

A number of hedge funds have recently made changes to their positions in BIRK. T. Rowe Price Investment Management Inc. raised its position in Birkenstock by 25.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,167,145 shares of the company’s stock valued at $236,914,000 after purchasing an additional 1,042,891 shares during the period. Bamco Inc. NY grew its stake in shares of Birkenstock by 8.3% in the fourth quarter. Bamco Inc. NY now owns 3,359,351 shares of the company’s stock valued at $190,341,000 after buying an additional 256,844 shares in the last quarter. Norges Bank acquired a new stake in shares of Birkenstock in the fourth quarter valued at $131,786,000. Westfield Capital Management Co. LP purchased a new stake in shares of Birkenstock in the 1st quarter valued at $72,108,000. Finally, Capital World Investors lifted its stake in Birkenstock by 1.1% during the 4th quarter. Capital World Investors now owns 1,490,366 shares of the company’s stock worth $84,444,000 after acquiring an additional 16,466 shares in the last quarter. Hedge funds and other 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.