Robert W. Baird Issues Positive Forecast for Birkenstock (NYSE:BIRK) Stock Price

Birkenstock (NYSE:BIRK) had its target price raised by Robert W. Baird from $65.00 to $72.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research analysts have also recently weighed in on BIRK. BMO Capital Markets reissued an “outperform” rating and set a $60.00 price target on shares of Birkenstock in a research report on Friday, August 30th. UBS Group cut their price target 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. Stifel Nicolaus increased their price objective on Birkenstock from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. HSBC raised Birkenstock from a “hold” rating to a “buy” rating and raised their target price for the stock from $58.00 to $60.00 in a research note on Tuesday, December 3rd. Finally, Piper Sandler started coverage on Birkenstock in a research report on Tuesday, December 10th. They set an “overweight” rating and a $65.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.31.

Birkenstock Trading Up 0.8 %

Shares of Birkenstock stock opened at $57.59 on Thursday. Birkenstock has a fifty-two week low of $41.00 and a fifty-two week high of $64.78. 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 company has a market cap of $10.82 billion, a P/E ratio of 94.41, a price-to-earnings-growth ratio of 1.19 and a beta of 2.22. The firm has a 50-day simple moving average of $49.97 and a two-hundred day simple moving average of $53.08.

Hedge Funds Weigh In On Birkenstock

Large investors have recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in shares of 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 purchasing an additional 225 shares in the last quarter. MetLife Investment Management LLC grew its stake in Birkenstock by 52.2% in 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 last quarter. Quarry LP purchased a new position in Birkenstock during the 3rd quarter valued at about $25,000. Amalgamated Bank raised its position in Birkenstock by 51.8% during the third quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock worth $102,000 after acquiring an additional 707 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Birkenstock by 58.8% in the third 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 in the last quarter. 19.93% of the stock is owned by hedge funds and other institutional investors.

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.