Birkenstock (NYSE:BIRK) Coverage Initiated at BTIG Research

Research analysts at BTIG Research initiated coverage on shares of Birkenstock (NYSE:BIRK) in a report issued on Thursday, MarketBeat.com reports. The firm set a “buy” rating and a $60.00 price target on the stock. BTIG Research’s price target would indicate a potential upside of 19.95% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the company. BMO Capital Markets reiterated an “outperform” rating and issued a $60.00 target price on shares of Birkenstock in a research note on Friday, August 30th. Bank of America upgraded Birkenstock from a “neutral” rating to a “buy” rating and raised their target price for the company from $62.00 to $65.00 in a research note on Thursday, July 25th. Telsey Advisory Group reiterated an “outperform” rating and issued a $70.00 target price on shares of Birkenstock in a research note on Tuesday, September 24th. Stifel Nicolaus raised their target price on Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Citigroup assumed coverage on shares of Birkenstock in a research note on Monday, July 1st. They set a “buy” rating and a $65.00 price objective on the stock. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $62.11.

Birkenstock Stock Performance

Birkenstock stock opened at $50.02 on Thursday. The company has a market cap of $9.40 billion and a PE ratio of 82.00. The company has a fifty day moving average price of $52.46 and a two-hundred day moving average price of $51.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 1.49. Birkenstock has a 12 month low of $35.83 and a 12 month high of $64.78.

Birkenstock (NYSE:BIRK) last posted its earnings results on Thursday, August 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). The company had revenue of $564.76 million during the quarter, compared to the consensus estimate of $628.70 million. Birkenstock had a net margin of 6.26% and a return on equity of 5.79%. Research analysts expect that Birkenstock will post 1.39 earnings per share for the current year.

Hedge Funds Weigh In On Birkenstock

A number of institutional investors have recently bought and sold shares of BIRK. GAMMA Investing LLC increased its stake in Birkenstock by 377.1% in the 2nd quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $36,000 after purchasing an additional 528 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in Birkenstock in the 1st quarter worth about $40,000. CWM LLC increased its stake in Birkenstock by 358.2% in the 1st 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. Acadian Asset Management LLC purchased a new position in Birkenstock in the 2nd quarter worth about $136,000. Finally, MSA Advisors LLC purchased a new position in Birkenstock in the 2nd quarter worth about $223,000. 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.