Birkenstock (NYSE:BIRK) Given New $70.00 Price Target at Evercore ISI

Birkenstock (NYSE:BIRK - Get Free Report) had its price objective increased by equities researchers at Evercore ISI from $65.00 to $70.00 in a report issued on Monday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Evercore ISI's price objective suggests a potential upside of 31.40% from the company's current price.

A number of other research firms also recently commented on BIRK. Telsey Advisory Group restated an "outperform" rating and set a $70.00 price target on shares of Birkenstock in a research report on Thursday, May 15th. Robert W. Baird boosted their price target on shares of Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. BTIG Research boosted their price target on shares of Birkenstock from $70.00 to $72.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Piper Sandler dropped their price target on shares of Birkenstock from $70.00 to $60.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Finally, BMO Capital Markets boosted their target price on shares of Birkenstock from $70.00 to $75.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $67.19.

Birkenstock Stock Performance

NYSE:BIRK traded down $1.78 during mid-day trading on Monday, hitting $53.27. The stock had a trading volume of 2,801,856 shares, compared to its average volume of 1,506,439. The stock has a market capitalization of $10.01 billion, a price-to-earnings ratio of 42.96, a P/E/G ratio of 1.02 and a beta of 1.56. The company has a 50 day simple moving average of $49.40 and a 200-day simple moving average of $51.95. Birkenstock has a 52 week low of $40.56 and a 52 week high of $64.78. The company has a current ratio of 2.84, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48.

Birkenstock (NYSE:BIRK - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. The firm had revenue of $623.54 million for the quarter, compared to the consensus estimate of $567.84 million. During the same period last year, the firm posted $0.38 EPS. Birkenstock's quarterly revenue was up 19.3% compared to the same quarter last year. On average, research analysts expect that Birkenstock will post 1.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Woodline Partners LP increased its position in shares of Birkenstock by 100.6% in the first quarter. Woodline Partners LP now owns 383,570 shares of the company's stock worth $17,587,000 after acquiring an additional 192,351 shares in the last quarter. Arete Wealth Advisors LLC acquired a new position in Birkenstock in the 1st quarter valued at approximately $466,000. Goldman Sachs Group Inc. increased its stake in Birkenstock by 27.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,074,283 shares of the company's stock valued at $49,256,000 after buying an additional 233,672 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Birkenstock in the 1st quarter worth approximately $523,000. Finally, NewEdge Advisors LLC boosted 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 buying an additional 488 shares during the period. 19.93% of the stock is owned by hedge funds and other institutional investors.

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.