Citigroup Begins Coverage on Birkenstock (NYSE:BIRK)

Citigroup began coverage on shares of Birkenstock (NYSE:BIRK) in a research note released on Monday morning, Marketbeat reports. The brokerage issued a buy rating and a $65.00 target price on the stock.

A number of other research analysts also recently weighed in on BIRK. JPMorgan Chase & Co. raised their price target on Birkenstock from $56.00 to $64.00 and gave the company an overweight rating in a research note on Monday, June 3rd. The Goldman Sachs Group cut shares of Birkenstock from a buy rating to a neutral rating and raised their target price for the company from $54.20 to $58.00 in a research note on Wednesday, June 12th. UBS Group raised shares of Birkenstock from a neutral rating to a buy rating and upped their price target for the stock from $52.00 to $85.00 in a research report on Monday. Evercore ISI lifted their price objective on shares of Birkenstock from $54.00 to $63.00 and gave the company an outperform rating in a research report on Friday, May 31st. Finally, Morgan Stanley boosted their price objective on shares of Birkenstock from $44.00 to $58.00 and gave the stock an equal weight rating in a research note on Tuesday, June 25th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $60.12.

Birkenstock Stock Performance

Shares of BIRK opened at $56.50 on Monday. Birkenstock has a 12 month low of $35.83 and a 12 month high of $61.83. The firm has a fifty day simple moving average of $52.23 and a 200 day simple moving average of $48.85. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 2.87.

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 business had revenue of $522.51 million for the quarter, compared to analyst estimates of $499.98 million. As a group, equities analysts expect that Birkenstock will post 1.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Birkenstock

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in 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 purchasing an additional 528 shares during the period. Interval Partners LP boosted its position in shares of Birkenstock by 233.5% in the first quarter. Interval Partners LP now owns 183,452 shares of the company’s stock valued at $8,668,000 after acquiring an additional 128,452 shares during the period. Bwcp LP grew its stake in shares of Birkenstock by 162.3% in the first quarter. Bwcp LP now owns 209,645 shares of the company’s stock valued at $9,906,000 after acquiring an additional 129,726 shares in the last quarter. Steadfast Capital Management LP bought a new position in Birkenstock during the first quarter worth about $2,079,000. Finally, Bamco Inc. NY raised its stake in Birkenstock by 1.4% in the 1st quarter. Bamco Inc. NY now owns 2,974,458 shares of the company’s stock worth $140,543,000 after purchasing an additional 40,457 shares in the last quarter. 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.