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

Birkenstock (NYSE:BIRK) had its price objective lifted by Robert W. Baird from $65.00 to $72.00 in a report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms also recently commented on BIRK. HSBC upgraded shares of Birkenstock from a “hold” rating to a “buy” rating and upped their target price for the stock from $58.00 to $60.00 in a research report on Tuesday, December 3rd. UBS Group dropped their price objective on shares of Birkenstock from $85.00 to $83.00 and set a “buy” rating for the company in a report on Tuesday, December 10th. BTIG Research lifted their target price on Birkenstock from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday. Evercore ISI reissued an “outperform” rating and set a $77.00 price target (up from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. Finally, Stifel Nicolaus lifted their price objective on Birkenstock from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Two research 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $68.31.

Birkenstock Stock Up 4.9 %

Shares of BIRK opened at $60.40 on Thursday. The business’s 50 day moving average is $50.18 and its 200 day moving average is $53.10. The company has a current ratio of 2.91, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. Birkenstock has a 12-month low of $41.00 and a 12-month high of $64.78. The company has a market capitalization of $11.34 billion, a PE ratio of 99.02, a price-to-earnings-growth ratio of 1.19 and a beta of 2.22.

Institutional Trading of Birkenstock

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Birkenstock during the third quarter valued at approximately $25,000. MetLife Investment Management LLC boosted its holdings in 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 acquiring an additional 236 shares during the period. GAMMA Investing LLC grew its position in Birkenstock by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock valued at $44,000 after acquiring an additional 225 shares during the last quarter. Amalgamated Bank increased its stake in Birkenstock by 51.8% in the third quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock worth $102,000 after purchasing an additional 707 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of Birkenstock during the second quarter worth $136,000. 19.93% of the stock is 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.