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

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

A number of other equities analysts also recently commented on the company. Stifel Nicolaus decreased their target price on Birkenstock from $70.00 to $62.00 and set a “buy” rating for the company in a report on Thursday. BTIG Research boosted their price target on shares of Birkenstock from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft upped their price target on Birkenstock from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Telsey Advisory Group restated an “outperform” rating and set a $70.00 target price on shares of Birkenstock in a report on Thursday, February 20th. Finally, Robert W. Baird upped their price objective on shares of Birkenstock from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Birkenstock currently has an average rating of “Moderate Buy” and a consensus price target of $67.50.

Birkenstock Price Performance

Shares of NYSE:BIRK opened at $48.06 on Friday. The company has a quick ratio of 1.08, a current ratio of 2.84 and a debt-to-equity ratio of 0.48. The stock has a market cap of $9.03 billion, a PE ratio of 38.76, a PEG ratio of 1.02 and a beta of 1.71. The company’s fifty day moving average is $48.71 and its 200 day moving average is $51.39. Birkenstock has a 52 week low of $40.56 and a 52 week high of $64.78.

Birkenstock (NYSE:BIRK) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The company had revenue of $385.88 million during the quarter, compared to analyst estimates of $355.80 million. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. Research analysts anticipate that Birkenstock will post 1.77 earnings per share for the current year.

Institutional Trading of Birkenstock

A number of hedge funds have recently added to or reduced their stakes in BIRK. Rhumbline Advisers increased its holdings in Birkenstock by 5.9% during the first quarter. Rhumbline Advisers now owns 31,957 shares of the company’s stock valued at $1,465,000 after buying an additional 1,776 shares during the period. GAMMA Investing LLC raised its position in shares of Birkenstock by 3,914.1% in the 1st quarter. GAMMA Investing LLC now owns 30,949 shares of the company’s stock worth $1,419,000 after acquiring an additional 30,178 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Birkenstock by 170.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,538 shares of the company’s stock worth $4,110,000 after purchasing an additional 45,700 shares during the last quarter. Woodline Partners LP boosted its position in Birkenstock by 129.7% during the fourth quarter. Woodline Partners LP now owns 191,219 shares of the company’s stock valued at $10,834,000 after purchasing an additional 107,981 shares in the last quarter. Finally, Tairen Capital Ltd purchased a new position in Birkenstock in the fourth quarter valued at about $1,133,000. 19.93% of the stock is owned by hedge funds and other institutional investors.

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.