Birkenstock (NYSE:BIRK) Price Target Raised to $72.00

Birkenstock (NYSE:BIRK) had its price target boosted by Robert W. Baird from $65.00 to $72.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 25.96% from the stock’s previous close.

A number of other equities analysts have also commented on the stock. Telsey Advisory Group restated an “outperform” rating and issued a $70.00 price objective on shares of Birkenstock in a research report on Friday, December 13th. BMO Capital Markets reissued an “outperform” rating and issued a $60.00 price target on shares of Birkenstock in a report on Friday, August 30th. UBS Group decreased their price target on shares of Birkenstock from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Tuesday, December 10th. HSBC raised Birkenstock from a “hold” rating to a “buy” rating and lifted their price objective for the company from $58.00 to $60.00 in a research note on Tuesday, December 3rd. Finally, BTIG Research boosted their target price on Birkenstock from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Birkenstock currently has an average rating of “Moderate Buy” and a consensus price target of $66.94.

Birkenstock Stock Up 2.0 %

Shares of NYSE BIRK opened at $57.16 on Thursday. The business has a 50-day simple moving average of $49.81 and a two-hundred day simple moving average of $53.05. Birkenstock has a 52 week low of $41.00 and a 52 week high of $64.78. The company has a market cap of $10.74 billion, a P/E ratio of 93.70, 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 Investors Weigh In On Birkenstock

Institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its position in Birkenstock by 19.3% in the second quarter. Bank of New York Mellon Corp now owns 62,776 shares of the company’s stock valued at $3,416,000 after purchasing an additional 10,157 shares during the last quarter. Principal Financial Group Inc. bought a new stake in Birkenstock during the 2nd quarter valued at $4,323,000. TD Asset Management Inc boosted its position in Birkenstock by 22.6% during the 2nd quarter. TD Asset Management Inc now owns 244,372 shares of the company’s stock valued at $13,296,000 after buying an additional 45,000 shares during the period. Victory Capital Management Inc. bought a new stake in Birkenstock in the 2nd quarter worth $18,755,000. Finally, Acadian Asset Management LLC bought a new position in shares of Birkenstock during the second quarter valued at about $136,000. 19.93% of the stock is currently owned by hedge funds and other institutional investors.

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.