BTIG Research Issues Positive Forecast for Birkenstock (NYSE:BIRK) Stock Price

Birkenstock (NYSE:BIRK) had its price objective upped by BTIG Research from $60.00 to $70.00 in a report issued on Wednesday, MarketBeat reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Evercore ISI reissued an “outperform” rating and set a $77.00 price target (up previously from $63.00) on shares of Birkenstock in a report on Monday, August 26th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of Birkenstock in a research note on Friday, December 13th. HSBC upgraded shares of Birkenstock from a “hold” rating to a “buy” rating and lifted their target price for the stock from $58.00 to $60.00 in a research report on Tuesday, December 3rd. 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 report on Friday, August 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Birkenstock from $69.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $66.44.

Birkenstock Price Performance

BIRK stock opened at $57.16 on Wednesday. The company has a quick ratio of 1.49, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. The firm 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’s 50-day moving average price is $49.81 and its two-hundred day moving average price is $53.05. Birkenstock has a 12 month low of $41.00 and a 12 month high of $64.78.

Institutional Investors Weigh In On Birkenstock

Several institutional investors have recently bought and sold shares of BIRK. Quarry LP bought a new stake in shares of Birkenstock in the 3rd quarter worth $25,000. MetLife Investment Management LLC raised its position in Birkenstock by 52.2% in the third quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock worth $34,000 after acquiring an additional 236 shares during the period. GAMMA Investing LLC boosted its stake in Birkenstock by 33.7% in the third 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 lifted its stake in Birkenstock by 51.8% in the third 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 bought a new position in Birkenstock during the second quarter valued at $136,000. 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.