Piper Sandler Cuts Birkenstock (NYSE:BIRK) Price Target to $60.00

Birkenstock (NYSE:BIRK - Free Report) had its price target decreased by Piper Sandler from $70.00 to $60.00 in a research report report published on Friday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other analysts also recently weighed in on the stock. UBS Group increased their price target on shares of Birkenstock from $83.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Stifel Nicolaus reduced their price target on shares of Birkenstock from $70.00 to $62.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Birkenstock from $65.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, December 19th. BMO Capital Markets lifted their target price on Birkenstock from $60.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, December 19th. Finally, Telsey Advisory Group reissued an "outperform" rating and issued a $70.00 target price on shares of Birkenstock in a research note on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Birkenstock presently has a consensus rating of "Moderate Buy" and an average price target of $67.50.

Birkenstock Trading Down 0.6 %

BIRK stock traded down $0.30 during midday trading on Friday, reaching $47.06. The company's stock had a trading volume of 827,547 shares, compared to its average volume of 1,350,154. The business's 50-day simple moving average is $48.36 and its 200-day simple moving average is $51.35. The company has a quick ratio of 1.08, a current ratio of 2.84 and a debt-to-equity ratio of 0.48. Birkenstock has a 52 week low of $40.56 and a 52 week high of $64.78. The stock has a market cap of $8.84 billion, a PE ratio of 37.95, a price-to-earnings-growth ratio of 1.02 and a beta of 1.71.

Birkenstock (NYSE:BIRK - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03. The business had revenue of $385.88 million for the quarter, compared to analyst estimates of $355.80 million. Birkenstock had a return on equity of 9.52% and a net margin of 11.73%. As a group, sell-side analysts expect that Birkenstock will post 1.77 EPS for the current year.

Hedge Funds Weigh In On Birkenstock

Several hedge funds have recently modified their holdings of BIRK. Charles Schwab Investment Management Inc. boosted its holdings in shares of Birkenstock by 59.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,627 shares of the company's stock valued at $327,000 after buying an additional 2,473 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Birkenstock during the 3rd quarter worth about $1,323,000. HighTower Advisors LLC lifted its stake in Birkenstock by 370.8% in the 3rd quarter. HighTower Advisors LLC now owns 26,165 shares of the company's stock valued at $1,289,000 after purchasing an additional 20,607 shares during the last quarter. Quarry LP bought a new position in Birkenstock during the third quarter worth about $25,000. Finally, Stifel Financial Corp acquired a new position in Birkenstock during the third quarter worth approximately $1,315,000. 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.