JPMorgan Chase & Co. Lowers Birkenstock (NYSE:BIRK) Price Target to $66.00

Key Points

• JPMorgan Chase & Co. has lowered its target price for Birkenstock (NYSE:BIRK) from $81.00 to $66.00, with a potential upside of 39.27% at the current price.
• Birkenstock recently reported $0.70 earnings per share (EPS), exceeding analysts' expectations of $0.67, alongside a year-over-year revenue increase of 12.4%.
• Institutional investors have significantly increased their stakes in Birkenstock, with PNC Financial Services Group boosting its stake by an impressive 2,514.6% in the first quarter.

Birkenstock (NYSE:BIRK - Get Free Report) had its target price decreased by investment analysts at JPMorgan Chase & Co. from $81.00 to $66.00 in a research note issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 44.67% from the stock's previous close.

A number of other equities analysts have also weighed in on BIRK. UBS Group set a $77.00 target price on shares of Birkenstock and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Telsey Advisory Group reiterated an "outperform" rating and set a $70.00 target price on shares of Birkenstock in a research report on Thursday, August 14th. William Blair reiterated an "outperform" rating on shares of Birkenstock in a research report on Tuesday, June 3rd. Finally, The Goldman Sachs Group upgraded shares of Birkenstock from a "neutral" rating to a "buy" rating and set a $60.00 target price for the company in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. Based on data from MarketBeat.com, Birkenstock presently has a consensus rating of "Buy" and a consensus price target of $68.38.

Birkenstock Stock Down 2.1%

Shares of NYSE BIRK traded down $0.99 during trading on Friday, hitting $45.62. The stock had a trading volume of 614,970 shares, compared to its average volume of 1,917,271. Birkenstock has a 12 month low of $40.56 and a 12 month high of $62.66. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.78 and a quick ratio of 1.29. The company has a market capitalization of $8.57 billion, a PE ratio of 25.37, a PEG ratio of 1.06 and a beta of 1.31. The firm has a fifty day moving average of $49.55 and a two-hundred day moving average of $49.80.

Birkenstock (NYSE:BIRK - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.03. The firm had revenue of $749.13 million during the quarter, compared to analyst estimates of $641.18 million. Birkenstock had a net margin of 15.21% and a return on equity of 11.52%. The business's revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.40 EPS. Birkenstock has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Birkenstock will post 1.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Birkenstock

Several institutional investors and hedge funds have recently added to or reduced their stakes in BIRK. Signaturefd LLC raised its position in Birkenstock by 66.5% in the 1st quarter. Signaturefd LLC now owns 841 shares of the company's stock worth $39,000 after buying an additional 336 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Birkenstock by 34.5% during the 2nd quarter. GAMMA Investing LLC now owns 908 shares of the company's stock valued at $45,000 after purchasing an additional 233 shares during the period. NewEdge Advisors LLC grew its stake in shares of Birkenstock by 61.0% during the 1st quarter. NewEdge Advisors LLC now owns 1,288 shares of the company's stock valued at $59,000 after purchasing an additional 488 shares during the period. Smartleaf Asset Management LLC bought a new stake in shares of Birkenstock during the 2nd quarter valued at about $74,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Birkenstock by 3,131.3% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 2,068 shares of the company's stock valued at $102,000 after purchasing an additional 2,004 shares during the period. 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.