Piper Sandler Begins Coverage on Birkenstock (NYSE:BIRK)

Piper Sandler began coverage on shares of Birkenstock (NYSE:BIRK) in a report released on Tuesday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $65.00 price target on the stock. Piper Sandler’s price objective points to a potential upside of 19.68% from the company’s current price.

A number of other research analysts have also issued reports on BIRK. Stifel Nicolaus upped their price target on shares of Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. HSBC raised Birkenstock from a “hold” rating to a “buy” rating and upped their target price for the company from $58.00 to $60.00 in a research report on Tuesday, December 3rd. BTIG Research set a $60.00 price target on Birkenstock and gave the stock a “buy” rating in a research report on Friday, October 18th. Hsbc Global Res raised Birkenstock to a “strong-buy” rating in a report on Tuesday, December 3rd. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $70.00 target price on shares of Birkenstock in a report on Tuesday, September 24th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.25.

Birkenstock Price Performance

Shares of BIRK stock opened at $54.31 on Tuesday. Birkenstock has a fifty-two week low of $41.00 and a fifty-two week high of $64.78. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 2.91. The firm has a market capitalization of $10.20 billion, a price-to-earnings ratio of 89.03, a PEG ratio of 1.16 and a beta of 2.22. The stock’s 50-day simple moving average is $48.80 and its 200-day simple moving average is $52.88.

Institutional Trading of Birkenstock

A number of hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in Birkenstock by 33.7% during the third quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock worth $44,000 after purchasing an additional 225 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Birkenstock by 52.2% during the 3rd quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock valued at $34,000 after buying an additional 236 shares in the last quarter. Quarry LP purchased a new position in shares of Birkenstock during the 3rd quarter valued at approximately $25,000. Amalgamated Bank grew its stake in Birkenstock by 51.8% in the 3rd quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock valued at $102,000 after acquiring an additional 707 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in Birkenstock by 58.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 6,670 shares of the company’s stock worth $329,000 after acquiring an additional 2,470 shares in the last quarter. 19.93% of the stock is owned by hedge funds and other institutional investors.

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.