Birkenstock (NYSE:BIRK) Receives New Coverage from Analysts at Citigroup

Citigroup began coverage on shares of Birkenstock (NYSE:BIRK) in a research report report published on Monday morning, MarketBeat.com reports. The firm issued a buy rating and a $65.00 price target on the stock.

A number of other equities analysts also recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Birkenstock from $56.00 to $64.00 and gave the stock an overweight rating in a research note on Monday, June 3rd. Bank of America raised their price target on Birkenstock from $54.00 to $62.00 and gave the company a neutral rating in a research note on Friday, May 31st. UBS Group raised Birkenstock from a neutral rating to a buy rating and increased their price objective for the company from $52.00 to $85.00 in a report on Monday. BMO Capital Markets boosted their target price on shares of Birkenstock from $54.00 to $60.00 and gave the stock an outperform rating in a report on Friday, May 31st. Finally, Robert W. Baird increased their price target 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. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $60.12.

Birkenstock Stock Performance

Birkenstock stock opened at $55.39 on Monday. Birkenstock has a fifty-two week low of $35.83 and a fifty-two week high of $61.83. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.87 and a quick ratio of 1.13. The company’s 50 day simple moving average is $51.79 and its 200 day simple moving average is $48.75.

Birkenstock (NYSE:BIRK) last issued its quarterly earnings results on Thursday, May 30th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. The firm had revenue of $522.51 million during the quarter, compared to the consensus estimate of $499.98 million. As a group, equities analysts anticipate that Birkenstock will post 1.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Birkenstock

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