Birkenstock (NYSE:BIRK) Price Target Increased to $58.00 by Analysts at Morgan Stanley

Birkenstock (NYSE:BIRK) had its target price hoisted by equities researchers at Morgan Stanley from $44.00 to $58.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential downside of 2.98% from the stock’s current price.

BIRK has been the subject of a number of other reports. JPMorgan Chase & Co. increased their price target on Birkenstock from $56.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, June 3rd. BNP Paribas assumed coverage on Birkenstock in a research note on Thursday, June 20th. They issued an “outperform” rating and a $68.00 price target for the company. Stifel Nicolaus increased their price target on Birkenstock from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Telsey Advisory Group reiterated an “outperform” rating and issued a $56.00 price target on shares of Birkenstock in a research note on Thursday, May 30th. Finally, Robert W. Baird increased their price target on Birkenstock from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Birkenstock presently has a consensus rating of “Moderate Buy” and an average target price of $57.56.

Birkenstock Price Performance

Shares of NYSE BIRK opened at $59.78 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 2.87. Birkenstock has a 1-year low of $35.83 and a 1-year high of $61.83. The business has a fifty day moving average price of $50.53 and a 200 day moving average price of $48.52.

Birkenstock (NYSE:BIRK) last issued its quarterly earnings data on Thursday, May 30th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.09. The company had revenue of $522.51 million for the quarter, compared to analysts’ expectations of $499.98 million. Research analysts anticipate that Birkenstock will post 1.34 earnings per share for the current fiscal year.

Institutional Trading of Birkenstock

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Banque Cantonale Vaudoise acquired a new stake in Birkenstock during the first quarter worth about $40,000. Tower Research Capital LLC TRC purchased a new position in Birkenstock during the fourth quarter worth approximately $77,000. Venturi Wealth Management LLC purchased a new position in Birkenstock during the fourth quarter worth approximately $83,000. CWM LLC boosted its position in Birkenstock by 358.2% during the first quarter. CWM LLC now owns 2,181 shares of the company’s stock worth $103,000 after purchasing an additional 1,705 shares in the last quarter. Finally, Connable Office Inc. purchased a new position in Birkenstock during the fourth quarter worth approximately $216,000. 19.93% of the stock is owned by institutional investors and hedge funds.

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.