Birkenstock (NYSE:BIRK) Receives New Coverage from Analysts at Citigroup

Investment analysts at Citigroup started coverage on shares of Birkenstock (NYSE:BIRK) in a research note issued on Monday, MarketBeat.com reports. The firm set a “buy” rating and a $65.00 price target on the stock. Citigroup’s price objective points to a potential upside of 17.20% from the stock’s current price.

A number of other research firms have also recently commented on BIRK. The Goldman Sachs Group cut Birkenstock from a “buy” rating to a “neutral” rating and increased their price target for the company from $54.20 to $58.00 in a research note on Wednesday, June 12th. JPMorgan Chase & Co. increased 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. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $70.00 price target on shares of Birkenstock in a research note on Thursday, June 13th. 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. Finally, Bank of America raised their price objective on Birkenstock from $54.00 to $62.00 and gave the stock a “neutral” rating in a research note on Friday, May 31st. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $60.12.

Birkenstock Trading Up 0.2 %

Shares of Birkenstock stock opened at $55.46 on Monday. The stock’s fifty day moving average is $52.00 and its two-hundred day moving average is $48.80. The company has a quick ratio of 1.13, a current ratio of 2.87 and a debt-to-equity ratio of 0.56. Birkenstock has a 52 week low of $35.83 and a 52 week high of $61.83.

Birkenstock (NYSE:BIRK) last posted its quarterly earnings results on Thursday, May 30th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.09. The firm had revenue of $522.51 million for the quarter, compared to the consensus estimate of $499.98 million. Sell-side analysts predict that Birkenstock will post 1.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Birkenstock

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its position in Birkenstock by 377.1% in the second 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. Banque Cantonale Vaudoise acquired a new stake in shares of Birkenstock in the first quarter valued at $40,000. Tower Research Capital LLC TRC acquired a new position in shares of Birkenstock during the fourth quarter worth about $77,000. Venturi Wealth Management LLC purchased a new stake in shares of Birkenstock in the 4th quarter valued at approximately $83,000. Finally, CWM LLC raised its stake in Birkenstock by 358.2% in the first quarter. CWM LLC now owns 2,181 shares of the company’s stock valued at $103,000 after buying an additional 1,705 shares in the last quarter. Hedge funds and other 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.