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

Birkenstock (NYSE:BIRK) had its target price raised by research analysts at BTIG Research from $60.00 to $70.00 in a report issued on Wednesday,Briefing.com Automated Import reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price target indicates a potential upside of 22.38% from the stock’s previous close.

A number of other research firms also recently issued reports on BIRK. Evercore ISI reiterated an “outperform” rating and set a $77.00 price target (up previously from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. Piper Sandler started coverage on Birkenstock in a report on Tuesday, December 10th. They set an “overweight” rating and a $65.00 price target for the company. Stifel Nicolaus raised their price objective on Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. UBS Group reduced their target price on shares of Birkenstock from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Tuesday, December 10th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $60.00 price target on shares of Birkenstock in a research report on Friday, August 30th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Birkenstock has an average rating of “Moderate Buy” and an average target price of $66.44.

Birkenstock Stock Up 2.0 %

NYSE:BIRK traded up $1.14 during trading hours on Wednesday, reaching $57.20. The company had a trading volume of 4,797,352 shares, compared to its average volume of 1,049,142. The business’s 50-day simple moving average is $49.65 and its two-hundred day simple moving average is $53.02. Birkenstock has a twelve month low of $41.00 and a twelve month high of $64.78. The firm has a market cap of $10.74 billion, a price-to-earnings ratio of 93.77, a P/E/G ratio of 1.19 and a beta of 2.22. The company has a quick ratio of 1.49, a current ratio of 2.91 and a debt-to-equity ratio of 0.55.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Bamco Inc. NY boosted its stake in shares of Birkenstock by 2.6% in the 3rd quarter. Bamco Inc. NY now owns 3,102,507 shares of the company’s stock valued at $152,923,000 after purchasing an additional 78,093 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Birkenstock by 30.4% during the second 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 buying an additional 700,000 shares during the period. FMR LLC grew its stake in shares of Birkenstock by 61.4% during the third quarter. FMR LLC now owns 2,128,689 shares of the company’s stock valued at $104,923,000 after buying an additional 809,784 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Birkenstock in the second quarter worth about $61,972,000. Finally, Federated Hermes Inc. lifted its stake in shares of Birkenstock by 42.0% in the 2nd quarter. Federated Hermes Inc. now owns 1,071,235 shares of the company’s stock valued at $58,286,000 after acquiring an additional 316,935 shares during the last quarter. Hedge funds and other institutional investors own 19.93% of the company’s stock.

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.