Birkenstock (NYSE:BIRK) Now Covered by BNP Paribas

Stock analysts at BNP Paribas initiated coverage on shares of Birkenstock (NYSE:BIRK) in a note issued to investors on Thursday, MarketBeat reports. The brokerage set an “outperform” rating and a $68.00 price target on the stock. BNP Paribas’ price target would indicate a potential upside of 10.62% from the company’s current price.

A number of other equities analysts have also recently issued reports on BIRK. Robert W. Baird increased their price objective on shares of Birkenstock from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. BMO Capital Markets increased their target price on shares of Birkenstock from $54.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. UBS Group increased their target price on shares of Birkenstock from $51.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. 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. Finally, Bank of America increased their target price on shares of Birkenstock from $54.00 to $62.00 and gave the stock a “neutral” rating in a research report on Friday, May 31st. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Birkenstock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.62.

Birkenstock Stock Performance

Shares of BIRK stock opened at $61.47 on Thursday. 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. The firm has a fifty day moving average of $50.18 and a 200-day moving average of $48.43.

Birkenstock (NYSE:BIRK) last announced its quarterly earnings data on Thursday, May 30th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. The business had revenue of $522.51 million during the quarter, compared to analyst estimates of $499.98 million. On average, equities research analysts forecast that Birkenstock will post 1.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BIRK. Banque Cantonale Vaudoise bought a new position in shares of Birkenstock in the 1st quarter valued at about $40,000. Tower Research Capital LLC TRC bought a new position in Birkenstock during the 4th quarter worth approximately $77,000. Venturi Wealth Management LLC bought a new position in Birkenstock during the 4th quarter worth approximately $83,000. CWM LLC boosted its stake in Birkenstock by 358.2% during the 1st quarter. CWM LLC now owns 2,181 shares of the company’s stock worth $103,000 after acquiring an additional 1,705 shares during the last quarter. Finally, Connable Office Inc. bought a new position in Birkenstock during the 4th quarter worth approximately $216,000. Institutional investors own 19.93% of the company’s stock.

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.