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

Stock analysts at Citigroup began coverage on shares of Birkenstock (NYSE:BIRK) in a research report issued on Monday, FinViz reports. The firm set a “buy” rating and a $65.00 price target on the stock. Citigroup’s price target indicates a potential upside of 19.46% from the company’s previous close.

BIRK has been the subject of several other research reports. Bank of America boosted their target price on shares of Birkenstock from $54.00 to $62.00 and gave the stock a “neutral” rating in a research report on Friday, May 31st. Robert W. Baird increased their target price on Birkenstock from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. The Goldman Sachs Group downgraded Birkenstock from a “buy” rating to a “neutral” rating and boosted their price target for the company from $54.20 to $58.00 in a report on Wednesday, June 12th. BNP Paribas initiated coverage on shares of Birkenstock in a report on Thursday, June 20th. They issued an “outperform” rating and a $68.00 price objective for the company. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $56.00 target price on shares of Birkenstock in a report on Thursday, May 30th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.12.

Birkenstock Stock Up 0.2 %

NYSE:BIRK opened at $54.41 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.87 and a quick ratio of 1.13. Birkenstock has a 1-year low of $35.83 and a 1-year high of $61.83. The firm has a 50-day moving average of $51.56 and a two-hundred day moving average of $48.71.

Birkenstock (NYSE:BIRK) last posted its quarterly earnings data on Thursday, May 30th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.09. The business had revenue of $522.51 million for the quarter, compared to analysts’ expectations of $499.98 million. As a group, equities analysts anticipate that Birkenstock will post 1.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Birkenstock

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blackstone Inc. bought a new stake in shares of Birkenstock during the 4th quarter worth about $3,411,000. Ghisallo Capital Management LLC acquired a new position in shares of Birkenstock during the 4th quarter valued at $4,873,000. Capital International Ltd. CA bought a new stake in shares of Birkenstock in the 4th quarter worth $1,909,000. New York State Common Retirement Fund acquired a new position in Birkenstock during the fourth quarter worth about $1,067,000. Finally, Treasurer of the State of North Carolina bought a new stake in shares of Birkenstock in the 4th quarter worth approximately $643,000. 19.93% of the stock is currently owned by institutional investors.

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.