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

Birkenstock (NYSE:BIRK) had its target price hoisted by BMO Capital Markets from $60.00 to $70.00 in a research note issued to investors on Thursday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

Other analysts have also issued research reports about the stock. UBS Group dropped their price target on shares of Birkenstock from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Tuesday, December 10th. Stifel Nicolaus lifted their price target on Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Hsbc Global Res raised Birkenstock to a “strong-buy” rating in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft boosted their price objective on Birkenstock from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday. Finally, HSBC raised shares of Birkenstock from a “hold” rating to a “buy” rating and lifted their price target for the company from $58.00 to $60.00 in a research note on Tuesday, December 3rd. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.31.

Birkenstock Trading Up 4.9 %

Birkenstock stock opened at $60.40 on Thursday. The firm has a market cap of $11.34 billion, a PE ratio of 99.02, a P/E/G ratio of 1.19 and a beta of 2.22. Birkenstock has a 12 month low of $41.00 and a 12 month high of $64.78. The stock’s 50 day simple moving average is $50.18 and its two-hundred day simple 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.

Hedge Funds Weigh In On Birkenstock

Institutional investors have recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in shares of Birkenstock in the 3rd quarter worth $25,000. 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 worth $34,000 after purchasing an additional 236 shares during the last quarter. GAMMA Investing LLC raised its stake 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 during the period. Amalgamated Bank boosted its holdings 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 purchasing an additional 707 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of Birkenstock in the 2nd quarter valued at approximately $136,000. Hedge funds and other 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.