BTIG Research Raises Birkenstock (NYSE:BIRK) Price Target to $70.00

Birkenstock (NYSE:BIRK - Get Free Report) had its target price hoisted by BTIG Research from $60.00 to $70.00 in a note issued to investors on Wednesday, Marketbeat.com reports. The brokerage currently has a "buy" rating on the stock. BTIG Research's price target indicates a potential upside of 22.46% from the stock's current price.

Several other equities research analysts also recently commented on the stock. Stifel Nicolaus boosted their target price 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 price target on shares of Birkenstock in a research report on Friday, December 13th. HSBC upgraded Birkenstock from a "hold" rating to a "buy" rating and lifted their price objective for the company from $58.00 to $60.00 in a research report on Tuesday, December 3rd. Piper Sandler began coverage on Birkenstock in a report on Tuesday, December 10th. They set an "overweight" rating and a $65.00 target price on the stock. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $60.00 price target on shares of Birkenstock in a report on Friday, August 30th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Birkenstock currently has a consensus rating of "Moderate Buy" and a consensus target price of $66.44.

Birkenstock Stock Performance

Shares of NYSE BIRK traded up $1.10 during trading hours on Wednesday, reaching $57.16. The stock had a trading volume of 5,639,601 shares, compared to its average volume of 1,054,559. Birkenstock has a twelve month low of $41.00 and a twelve month high of $64.78. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 1.49. The business's fifty day moving average is $49.81 and its two-hundred day moving average is $53.05. The company has a market cap of $10.74 billion, a price-to-earnings ratio of 93.70, a PEG ratio of 1.19 and a beta of 2.22.

Institutional Inflows and Outflows

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

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.