Birkenstock (NYSE:BIRK) Stock Rating Lowered by The Goldman Sachs Group

The Goldman Sachs Group lowered shares of Birkenstock (NYSE:BIRK) from a buy rating to a neutral rating in a research note issued to investors on Wednesday morning, Marketbeat reports. They currently have $58.00 price objective on the stock, up from their previous price objective of $54.20.

Several other brokerages have also recently issued reports on BIRK. UBS Group increased their target price on shares of Birkenstock from $51.00 to $52.00 and gave the stock a neutral rating in a report on Monday, March 4th. Stifel Nicolaus lifted their price objective on shares of Birkenstock from $54.00 to $63.00 and gave the company a buy rating in a report on Friday, May 31st. BMO Capital Markets upped their target price on Birkenstock from $54.00 to $60.00 and gave the stock an outperform rating in a report on Friday, May 31st. Piper Sandler boosted their price target on Birkenstock from $56.50 to $61.00 and gave the stock an overweight rating in a research report on Friday, March 1st. Finally, JPMorgan Chase & Co. upped their price objective on Birkenstock from $56.00 to $64.00 and gave the stock an overweight rating in a research note on Monday, June 3rd. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Birkenstock has an average rating of Moderate Buy and an average price target of $55.29.

Birkenstock Price Performance

Shares of BIRK stock opened at $59.67 on Wednesday. The stock has a 50 day moving average price of $48.52 and a 200 day moving average price of $47.97. 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 52-week low of $35.83 and a 52-week high of $61.04.

Birkenstock (NYSE:BIRK) last issued its earnings results on Thursday, May 30th. The company reported $0.44 earnings per share for the quarter, beating 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. On average, research analysts forecast that Birkenstock will post 1.34 EPS for the current fiscal year.

Institutional Trading of Birkenstock

A number of institutional investors have recently bought and sold shares of the stock. Venturi Wealth Management LLC purchased a new position in Birkenstock in the 4th quarter worth $83,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Birkenstock in the fourth quarter valued at about $1,886,000. Federated Hermes Inc. purchased a new position in shares of Birkenstock in the fourth quarter worth about $27,152,000. New York State Common Retirement Fund acquired a new stake in shares of Birkenstock during the fourth quarter worth about $1,067,000. Finally, Amalgamated Bank purchased a new stake in Birkenstock in the fourth quarter valued at approximately $233,000. 19.93% of the stock is currently owned by institutional investors and hedge funds.

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.