Birkenstock (NYSE:BIRK) Price Target Raised to $70.00 at BTIG Research

Birkenstock (NYSE:BIRK) had its target price upped by equities researchers at BTIG Research from $60.00 to $70.00 in a report released on Wednesday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s target price suggests a potential upside of 21.55% from the stock’s current price.

Other analysts also recently issued reports about the company. Hsbc Global Res raised Birkenstock to a “strong-buy” rating in a research report on Tuesday, December 3rd. HSBC raised Birkenstock from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $58.00 to $60.00 in a report on Tuesday, December 3rd. Piper Sandler initiated coverage on shares of Birkenstock in a report on Tuesday, December 10th. They set an “overweight” rating and a $65.00 price objective on the stock. Evercore ISI reiterated an “outperform” rating and issued a $77.00 target price (up previously from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $60.00 price target on shares of Birkenstock in a research report on Friday, August 30th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Birkenstock presently has an average rating of “Moderate Buy” and an average price target of $68.31.

Birkenstock Trading Up 0.8 %

Shares of BIRK stock opened at $57.59 on Wednesday. The company has a quick ratio of 1.49, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. The firm has a market cap of $10.82 billion, a P/E ratio of 94.41, a PEG ratio of 1.19 and a beta of 2.22. The company has a 50 day moving average of $49.97 and a 200-day moving average of $53.08. Birkenstock has a 12-month low of $41.00 and a 12-month high of $64.78.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Bamco Inc. NY grew its position in Birkenstock by 2.6% during the third quarter. Bamco Inc. NY now owns 3,102,507 shares of the company’s stock worth $152,923,000 after buying an additional 78,093 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Birkenstock by 30.4% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,000,000 shares of the company’s stock valued at $163,230,000 after acquiring an additional 700,000 shares during the last quarter. FMR LLC boosted its position in shares of Birkenstock by 61.4% during the 3rd quarter. FMR LLC now owns 2,128,689 shares of the company’s stock valued at $104,923,000 after acquiring an additional 809,784 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Birkenstock during the second quarter worth about $61,972,000. Finally, Federated Hermes Inc. increased its position in shares of Birkenstock by 42.0% in the second quarter. Federated Hermes Inc. now owns 1,071,235 shares of the company’s stock worth $58,286,000 after purchasing an additional 316,935 shares during the last quarter. 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.