Morgan Stanley Boosts Birkenstock (NYSE:BIRK) Price Target to $58.00

Birkenstock (NYSE:BIRK) had its target price lifted by Morgan Stanley from $44.00 to $58.00 in a research note released on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other analysts have also issued reports on the stock. Telsey Advisory Group restated an outperform rating and issued a $56.00 price objective on shares of Birkenstock in a report on Thursday, May 30th. BNP Paribas assumed coverage on shares of Birkenstock in a report on Thursday, June 20th. They issued an outperform rating and a $68.00 target price for the company. UBS Group boosted their target price on Birkenstock from $51.00 to $52.00 and gave the company a neutral rating in a research report on Monday, March 4th. JPMorgan Chase & Co. raised their price target on Birkenstock from $56.00 to $64.00 and gave the stock an overweight rating in a research report on Monday, June 3rd. Finally, Bank of America increased their target price on Birkenstock from $54.00 to $62.00 and gave the stock a neutral rating in a research note on Friday, May 31st. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $57.56.

Birkenstock Stock Up 0.1 %

Shares of BIRK stock opened at $54.36 on Tuesday. The firm’s 50-day moving average is $51.56 and its two-hundred day moving average is $48.71. Birkenstock has a 12 month low of $35.83 and a 12 month high of $61.83. 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 (NYSE:BIRK) last released its quarterly earnings data on Thursday, May 30th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. The business had revenue of $522.51 million during the quarter, compared to analyst estimates of $499.98 million. Equities research analysts anticipate that Birkenstock will post 1.38 EPS for the current fiscal year.

Institutional Trading of Birkenstock

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

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.