Birkenstock (NYSE:BIRK) Stock Rating Upgraded by The Goldman Sachs Group

Birkenstock (NYSE:BIRK - Get Free Report) was upgraded by The Goldman Sachs Group from a "neutral" rating to a "buy" rating in a research note issued to investors on Thursday, MarketBeat reports. The firm currently has a $60.00 target price on the stock. The Goldman Sachs Group's price target would suggest a potential upside of 13.99% from the stock's current price.

Several other analysts also recently issued reports on BIRK. Piper Sandler decreased their price objective on shares of Birkenstock from $70.00 to $60.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Bank of America raised their price objective on shares of Birkenstock from $70.00 to $73.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. UBS Group upped their price objective on Birkenstock from $72.00 to $76.00 and gave the company a "buy" rating in a research report on Friday, May 16th. William Blair reaffirmed an "outperform" rating on shares of Birkenstock in a research report on Tuesday, June 3rd. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $70.00 price objective on shares of Birkenstock in a research report on Thursday, May 15th. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $68.50.

Birkenstock Price Performance

Birkenstock stock traded up $0.77 during mid-day trading on Thursday, hitting $52.64. The stock had a trading volume of 2,136,554 shares, compared to its average volume of 2,053,091. The firm has a market capitalization of $9.89 billion, a P/E ratio of 37.07, a P/E/G ratio of 1.15 and a beta of 1.31. The company has a current ratio of 3.06, a quick ratio of 1.34 and a debt-to-equity ratio of 0.47. The firm's 50 day moving average is $51.74 and its 200 day moving average is $51.52. Birkenstock has a one year low of $40.56 and a one year high of $64.78.

Birkenstock (NYSE:BIRK - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The company reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.01. Birkenstock had a return on equity of 10.22% and a net margin of 12.86%. The company had revenue of $623.54 million during the quarter, compared to analyst estimates of $567.84 million. During the same period in the prior year, the company earned $0.38 earnings per share. The firm's revenue was up 19.3% on a year-over-year basis. On average, sell-side analysts forecast that Birkenstock will post 1.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Birkenstock

Several institutional investors have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. lifted its stake in shares of Birkenstock by 25.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 5,167,145 shares of the company's stock worth $236,914,000 after buying an additional 1,042,891 shares during the period. Bamco Inc. NY lifted its position in Birkenstock by 8.3% during the fourth quarter. Bamco Inc. NY now owns 3,359,351 shares of the company's stock valued at $190,341,000 after purchasing an additional 256,844 shares during the period. Norges Bank acquired a new position in Birkenstock during the fourth quarter valued at $131,786,000. Westfield Capital Management Co. LP acquired a new position in Birkenstock during the first quarter valued at $72,108,000. Finally, Capital World Investors lifted its position in Birkenstock by 1.1% during the fourth quarter. Capital World Investors now owns 1,490,366 shares of the company's stock valued at $84,444,000 after purchasing an additional 16,466 shares during the period. 19.93% of the stock is owned by hedge funds and other institutional investors.

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.