Birkenstock (NYSE:BIRK) Price Target Increased to $64.00 by Analysts at JPMorgan Chase & Co.

Birkenstock (NYSE:BIRK) had its price objective hoisted by JPMorgan Chase & Co. from $56.00 to $64.00 in a research note published on Monday, Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities research analysts also recently issued reports about the company. Stifel Nicolaus increased their price target on Birkenstock from $54.00 to $63.00 and gave the stock a buy rating in a report on Friday, May 31st. Piper Sandler increased their price target on Birkenstock from $56.50 to $61.00 and gave the stock an overweight rating in a report on Friday, March 1st. UBS Group increased their price target on Birkenstock from $51.00 to $52.00 and gave the stock a neutral rating in a report on Monday, March 4th. Telsey Advisory Group restated an outperform rating and issued a $56.00 price target on shares of Birkenstock in a report on Thursday, May 30th. Finally, Bank of America upped their price objective on Birkenstock from $54.00 to $62.00 and gave the stock a neutral rating in a research report on Friday, May 31st. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $53.26.

Birkenstock Trading Down 1.2 %

NYSE BIRK opened at $58.55 on Monday. The stock has a 50-day simple moving average of $46.58 and a 200 day simple moving average of $47.17. 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 12 month low of $35.83 and a 12 month high of $59.77.

Birkenstock (NYSE:BIRK) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $499.98 million. On average, analysts expect that Birkenstock will post 1.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BIRK. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Birkenstock during the fourth quarter valued at approximately $458,539,000. Norges Bank acquired a new stake in shares of Birkenstock in the fourth quarter valued at approximately $177,068,000. Capital World Investors acquired a new stake in shares of Birkenstock in the fourth quarter valued at approximately $70,916,000. Federated Hermes Inc. acquired a new stake in shares of Birkenstock in the fourth quarter valued at approximately $27,152,000. Finally, Bwcp LP lifted its position 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 buying an additional 129,726 shares during the last quarter. 19.93% of the stock is 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.