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

Birkenstock (NYSE:BIRK - Get Free Report) had its price target increased by research analysts at Evercore ISI from $65.00 to $70.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Evercore ISI's price objective suggests a potential upside of 23.46% from the stock's current price.

Other equities research analysts also recently issued reports about the company. UBS Group increased their price target on Birkenstock from $72.00 to $76.00 and gave the stock a "buy" rating in a research report on Friday. BMO Capital Markets raised their target price on Birkenstock from $70.00 to $75.00 and gave the stock an "outperform" rating in a report on Friday. Piper Sandler dropped their price objective on shares of Birkenstock from $70.00 to $60.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $70.00 target price on shares of Birkenstock in a report on Thursday. Finally, Robert W. Baird increased their price target on shares of Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a report on Friday. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $67.19.

Birkenstock Price Performance

Shares of NYSE:BIRK opened at $56.70 on Monday. Birkenstock has a twelve month low of $40.56 and a twelve month 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. The company has a market cap of $10.65 billion, a PE ratio of 45.73, a price-to-earnings-growth ratio of 1.02 and a beta of 1.56. The company's 50 day moving average is $48.32 and its 200 day moving average is $51.72.

Birkenstock (NYSE:BIRK - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported $0.58 EPS 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 business had revenue of $623.54 million for the quarter, compared to the consensus estimate of $567.84 million. During the same period in the prior year, the firm earned $0.38 EPS. The business's revenue for the quarter was up 19.3% on a year-over-year basis. On average, sell-side analysts forecast that Birkenstock will post 1.77 EPS for the current year.

Institutional Trading of Birkenstock

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Signaturefd LLC lifted its stake in Birkenstock by 642.6% in the 4th quarter. Signaturefd LLC now owns 505 shares of the company's stock valued at $29,000 after buying an additional 437 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Birkenstock during the fourth quarter valued at approximately $34,000. NewEdge Advisors LLC acquired a new position in shares of Birkenstock during the fourth quarter valued at approximately $45,000. Quarry LP lifted its position in shares of Birkenstock by 120.3% in the fourth quarter. Quarry LP now owns 1,097 shares of the company's stock valued at $62,000 after acquiring an additional 599 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Birkenstock in the fourth quarter worth approximately $76,000. Hedge funds and other institutional investors own 19.93% of the company's stock.

About Birkenstock

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.

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