Birkenstock (NYSE:BIRK) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Birkenstock (NYSE:BIRK - Get Free Report) had its price target boosted by equities researchers at BMO Capital Markets from $60.00 to $70.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. BMO Capital Markets' target price indicates a potential upside of 21.55% from the company's previous close.

A number of other research firms also recently commented on BIRK. BTIG Research boosted their target price on Birkenstock from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Birkenstock from $65.00 to $66.00 and gave the stock a "buy" rating in a research report on Thursday. Stifel Nicolaus increased 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. Telsey Advisory Group restated an "outperform" rating and set a $70.00 target price on shares of Birkenstock in a research report on Thursday. Finally, HSBC raised shares of Birkenstock from a "hold" rating to a "buy" rating and upped their price target for the company from $58.00 to $60.00 in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $68.31.

Birkenstock Price Performance

Shares of NYSE:BIRK traded up $0.43 during trading on Thursday, hitting $57.59. 2,624,268 shares of the stock were exchanged, compared to its average volume of 1,060,974. The company has a market cap of $10.82 billion, a PE ratio of 94.41, a P/E/G ratio of 1.19 and a beta of 2.22. The company has a current ratio of 2.91, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. The company has a fifty day moving average price of $49.97 and a two-hundred day moving average price of $53.08. Birkenstock has a 12-month low of $41.00 and a 12-month high of $64.78.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Bamco Inc. NY lifted its holdings in shares of Birkenstock by 2.6% during the 3rd quarter. Bamco Inc. NY now owns 3,102,507 shares of the company's stock worth $152,923,000 after acquiring an additional 78,093 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in Birkenstock by 30.4% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,000,000 shares of the company's stock worth $163,230,000 after purchasing an additional 700,000 shares during the last quarter. FMR LLC raised its stake in Birkenstock by 61.4% during the third quarter. FMR LLC now owns 2,128,689 shares of the company's stock worth $104,923,000 after purchasing an additional 809,784 shares during the period. Millennium Management LLC acquired a new position in shares of Birkenstock in the 2nd quarter valued at $61,972,000. Finally, Federated Hermes Inc. grew its stake in shares of Birkenstock by 42.0% during the 2nd quarter. Federated Hermes Inc. now owns 1,071,235 shares of the company's stock valued at $58,286,000 after buying an additional 316,935 shares during the period. 19.93% of the stock is currently owned by institutional investors and hedge funds.

About Birkenstock

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.