BTIG Research Forecasts Strong Price Appreciation for Birkenstock (NYSE:BIRK) Stock

Birkenstock (NYSE:BIRK) had its target price hoisted by equities research analysts at BTIG Research from $60.00 to $70.00 in a note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s target price points to a potential upside of 21.55% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Stifel Nicolaus lifted their price objective 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. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Birkenstock from $69.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday. Evercore ISI reissued an “outperform” rating and set a $77.00 price objective (up previously from $63.00) on shares of Birkenstock in a research report on Monday, August 26th. Piper Sandler initiated coverage on Birkenstock in a research report on Tuesday, December 10th. They issued an “overweight” rating and a $65.00 target price for the company. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $70.00 price target on shares of Birkenstock in a research note on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $68.31.

Birkenstock Trading Up 0.8 %

NYSE BIRK opened at $57.59 on Wednesday. The stock has a market capitalization of $10.82 billion, a P/E ratio of 94.41, a P/E/G ratio of 1.19 and a beta of 2.22. The business has a 50 day simple moving average of $49.97 and a 200 day simple moving average of $53.08. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 1.49. Birkenstock has a one year low of $41.00 and a one year high of $64.78.

Institutional Trading of Birkenstock

Several institutional investors and hedge funds have recently made changes to their positions in the company. HighTower Advisors LLC grew its position in Birkenstock by 370.8% in the 3rd quarter. HighTower Advisors LLC now owns 26,165 shares of the company’s stock worth $1,289,000 after purchasing an additional 20,607 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Birkenstock in the third quarter valued at approximately $1,323,000. Federated Hermes Inc. grew its holdings in shares of Birkenstock by 42.0% in the second quarter. Federated Hermes Inc. now owns 1,071,235 shares of the company’s stock valued at $58,286,000 after acquiring an additional 316,935 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Birkenstock by 128.8% during the second quarter. Renaissance Technologies LLC now owns 124,000 shares of the company’s stock valued at $6,747,000 after acquiring an additional 69,800 shares during the last quarter. Finally, Element Capital Management LLC bought a new stake in Birkenstock during the second quarter worth $6,325,000. 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.