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

Birkenstock (NYSE:BIRK) had its price objective increased by BTIG Research from $60.00 to $70.00 in a research report report published on Wednesday, Marketbeat.com reports. BTIG Research currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. Telsey Advisory Group reissued an “outperform” rating and set a $70.00 price objective on shares of Birkenstock in a research note on Friday, December 13th. HSBC raised Birkenstock from a “hold” rating to a “buy” rating and raised their price objective for the stock from $58.00 to $60.00 in a research note on Tuesday, December 3rd. UBS Group lowered their price objective on Birkenstock from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Tuesday, December 10th. BMO Capital Markets reissued an “outperform” rating and set a $60.00 price target on shares of Birkenstock in a research note on Friday, August 30th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Birkenstock from $69.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $66.44.

Birkenstock Price Performance

Shares of Birkenstock stock opened at $57.16 on Wednesday. The company has a fifty day moving average of $49.81 and a 200-day moving average of $53.05. The stock has a market capitalization of $10.74 billion, a price-to-earnings ratio of 93.70, a price-to-earnings-growth ratio of 1.19 and a beta of 2.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 2.91. Birkenstock has a 52-week low of $41.00 and a 52-week high of $64.78.

Hedge Funds Weigh In On Birkenstock

Institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of Birkenstock by 19.3% during the second quarter. Bank of New York Mellon Corp now owns 62,776 shares of the company’s stock valued at $3,416,000 after purchasing an additional 10,157 shares in the last quarter. Principal Financial Group Inc. acquired a new position in Birkenstock in the 2nd quarter valued at approximately $4,323,000. TD Asset Management Inc raised its holdings in shares of Birkenstock by 22.6% during the second quarter. TD Asset Management Inc now owns 244,372 shares of the company’s stock worth $13,296,000 after acquiring an additional 45,000 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in Birkenstock in the second quarter valued at approximately $18,755,000. Finally, Acadian Asset Management LLC bought a new stake in Birkenstock in the second quarter worth $136,000. Institutional investors and hedge funds 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.