Birkenstock (NYSE:BIRK) Receives “Outperform” Rating from BMO Capital Markets

BMO Capital Markets reissued their outperform rating on shares of Birkenstock (NYSE:BIRK) in a research report sent to investors on Friday morning, Benzinga reports. BMO Capital Markets currently has a $60.00 price target on the stock.

A number of other research firms have also commented on BIRK. UBS Group upgraded Birkenstock from a neutral rating to a buy rating and lifted their price objective for the stock from $52.00 to $85.00 in a research note on Monday, July 1st. Stifel Nicolaus raised their target price on Birkenstock from $63.00 to $70.00 and gave the stock a buy rating in a research report on Friday, August 23rd. Citigroup began coverage on shares of Birkenstock in a research note on Monday, July 1st. They issued a buy rating and a $65.00 target price on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a buy rating and set a $70.00 price objective on shares of Birkenstock in a report on Thursday, June 13th. Finally, Evercore ISI reiterated an outperform rating and issued a $77.00 price target (up from $63.00) on shares of Birkenstock in a research report on Monday, August 26th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $62.23.

Birkenstock Price Performance

BIRK opened at $49.90 on Friday. The stock has a fifty day moving average price of $57.09 and a 200 day moving average price of $51.84. 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 has a 1 year low of $35.83 and a 1 year high of $64.78. The stock has a market cap of $9.37 billion and a price-to-earnings ratio of 60.60.

Birkenstock (NYSE:BIRK) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). Birkenstock had a net margin of 6.26% and a return on equity of 5.92%. The firm had revenue of $564.76 million during the quarter, compared to the consensus estimate of $628.70 million. Analysts forecast that Birkenstock will post 1.41 EPS for the current fiscal year.

Institutional Trading of Birkenstock

Several hedge funds have recently bought and sold shares of BIRK. GAMMA Investing LLC boosted its position in shares of Birkenstock by 377.1% during the second quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $36,000 after buying an additional 528 shares during the period. Banque Cantonale Vaudoise bought a new stake in shares of Birkenstock in the first quarter worth $40,000. CWM LLC boosted its holdings in Birkenstock by 358.2% during the first quarter. CWM LLC now owns 2,181 shares of the company’s stock worth $103,000 after purchasing an additional 1,705 shares during the last quarter. Venturi Wealth Management LLC grew its position in Birkenstock by 123.5% in the first quarter. Venturi Wealth Management LLC now owns 3,800 shares of the company’s stock valued at $180,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Birkenstock during the 2nd quarter worth about $136,000. 19.93% of the stock is currently owned by institutional investors and hedge funds.

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.