Birkenstock (NYSE:BIRK) Given New $70.00 Price Target at BTIG Research

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

Several other equities research analysts have also recently weighed in on BIRK. Evercore ISI reaffirmed an “outperform” rating and issued a $77.00 price target (up from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. HSBC raised 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. Hsbc Global Res raised shares of Birkenstock to a “strong-buy” rating in a research note on Tuesday, December 3rd. Piper Sandler started coverage on shares of Birkenstock in a report on Tuesday, December 10th. They issued an “overweight” rating and a $65.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Birkenstock from $69.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday. Three investment 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $66.44.

Birkenstock Trading Up 2.0 %

Shares of NYSE BIRK traded up $1.14 during midday trading on Wednesday, hitting $57.20. 4,797,352 shares of the company traded hands, compared to its average volume of 1,049,142. Birkenstock has a 12-month low of $41.00 and a 12-month high of $64.78. The stock has a 50-day moving average price of $49.65 and a 200 day moving average price of $53.02. 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 cap of $10.74 billion, a P/E ratio of 93.77, a P/E/G ratio of 1.19 and a beta of 2.22.

Hedge Funds Weigh In On Birkenstock

Several hedge funds and other institutional investors have recently bought and sold shares of BIRK. GAMMA Investing LLC lifted its holdings in shares of Birkenstock by 33.7% during the 3rd quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock valued at $44,000 after buying an additional 225 shares during the period. MetLife Investment Management LLC increased its position in Birkenstock by 52.2% during the third 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 last quarter. Quarry LP bought a new position in Birkenstock in the third quarter valued at about $25,000. Amalgamated Bank boosted its position 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 last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of Birkenstock by 58.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 6,670 shares of the company’s stock valued at $329,000 after purchasing an additional 2,470 shares during the period. 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.