Birkenstock (NYSE:BIRK) Research Coverage Started at Citigroup

Citigroup assumed coverage on shares of Birkenstock (NYSE:BIRK) in a research note issued to investors on Monday, Marketbeat reports. The brokerage issued a buy rating and a $65.00 price objective on the stock.

A number of other equities research analysts also recently weighed in on BIRK. BMO Capital Markets raised their target price on Birkenstock from $54.00 to $60.00 and gave the company an outperform rating in a report on Friday, May 31st. UBS Group upgraded Birkenstock from a neutral rating to a buy rating and increased their price target for the company from $52.00 to $85.00 in a research note on Monday. Bank of America increased their price target on Birkenstock from $54.00 to $62.00 and gave the company a neutral rating in a research note on Friday, May 31st. Evercore ISI increased their price target on Birkenstock from $54.00 to $63.00 and gave the company an outperform rating in a research note on Friday, May 31st. Finally, Stifel Nicolaus increased their price target on Birkenstock from $54.00 to $63.00 and gave the company a buy rating in a research note on Friday, May 31st. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $60.12.

Birkenstock Stock Performance

Shares of NYSE BIRK opened at $56.50 on Monday. The business’s 50 day moving average price is $52.47 and its two-hundred day moving average price is $48.91. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.87 and a quick ratio of 1.13. Birkenstock has a twelve month low of $35.83 and a twelve month high of $61.83.

Birkenstock (NYSE:BIRK) last issued its quarterly earnings results on Thursday, May 30th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.09. The company had revenue of $522.51 million during the quarter, compared to the consensus estimate of $499.98 million. Analysts predict that Birkenstock will post 1.36 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BIRK. GAMMA Investing LLC grew its stake in shares of Birkenstock by 377.1% in the 2nd quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock valued at $36,000 after buying an additional 528 shares during the period. Banque Cantonale Vaudoise acquired a new stake in shares of Birkenstock in the 1st quarter valued at about $40,000. Tower Research Capital LLC TRC acquired a new stake in shares of Birkenstock in the 4th quarter valued at about $77,000. Venturi Wealth Management LLC acquired a new stake in shares of Birkenstock in the 4th quarter valued at about $83,000. Finally, CWM LLC grew its stake in shares of Birkenstock by 358.2% in the 1st quarter. CWM LLC now owns 2,181 shares of the company’s stock valued at $103,000 after buying an additional 1,705 shares during the period. 19.93% of the stock is owned by 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.