Birkenstock’s (BIRK) Buy Rating Reiterated at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft reaffirmed their buy rating on shares of Birkenstock (NYSE:BIRK) in a report issued on Thursday, Marketbeat.com reports. The firm currently has a $70.00 target price on the stock.

A number of other research analysts have also recently commented on BIRK. Robert W. Baird boosted their target price on shares of Birkenstock from $58.00 to $65.00 and gave the stock an outperform rating in a research report on Friday, May 31st. JPMorgan Chase & Co. boosted their target price on shares of Birkenstock from $56.00 to $64.00 and gave the company an overweight rating in a research note on Monday, June 3rd. UBS Group lifted their price target on shares of Birkenstock from $51.00 to $52.00 and gave the company a neutral rating in a report on Monday, March 4th. BMO Capital Markets raised their target price on shares of Birkenstock from $54.00 to $60.00 and gave the stock an outperform rating in a report on Friday, May 31st. Finally, Stifel Nicolaus boosted their price objective on Birkenstock from $54.00 to $63.00 and gave the company a buy rating in a research report on Friday, May 31st. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $55.29.

Birkenstock Stock Performance

NYSE BIRK opened at $59.67 on Thursday. The business’s 50 day moving average is $48.52 and its two-hundred day moving average is $47.99. Birkenstock has a 12-month low of $35.83 and a 12-month high of $61.04. The company has a current ratio of 2.87, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56.

Birkenstock (NYSE:BIRK) last posted its quarterly earnings data on Thursday, May 30th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.09. The company had revenue of $522.51 million for the quarter, compared to analysts’ expectations of $499.98 million. As a group, analysts expect that Birkenstock will post 1.34 earnings per share for the current fiscal year.

Institutional Trading of Birkenstock

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Banque Cantonale Vaudoise bought a new position in Birkenstock in the first quarter valued at approximately $40,000. Tower Research Capital LLC TRC bought a new stake in shares of Birkenstock during the 4th quarter worth $77,000. Venturi Wealth Management LLC bought a new position in Birkenstock in the fourth quarter valued at about $83,000. CWM LLC boosted 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 purchasing an additional 1,705 shares in the last quarter. Finally, Connable Office Inc. bought a new stake in shares of Birkenstock during the fourth quarter worth $216,000. 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.