Robert W. Baird Forecasts Strong Price Appreciation for Birkenstock (NYSE:BIRK) Stock

Birkenstock (NYSE:BIRK - Get Free Report) had its price objective upped by analysts at Robert W. Baird from $65.00 to $72.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Robert W. Baird's price objective would indicate a potential upside of 25.02% from the company's previous close.

Other analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Birkenstock from $69.00 to $65.00 and set a "neutral" rating for the company in a research note on Wednesday. HSBC upgraded 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. BMO Capital Markets reissued an "outperform" rating and set a $60.00 price objective on shares of Birkenstock in a research report on Friday, August 30th. UBS Group dropped their price target on Birkenstock from $85.00 to $83.00 and set a "buy" rating on the stock in a research report on Tuesday, December 10th. Finally, Stifel Nicolaus increased their price objective on Birkenstock from $63.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, August 23rd. Two research 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 company's stock. According to MarketBeat, Birkenstock has a consensus rating of "Moderate Buy" and an average price target of $68.31.

Birkenstock Stock Up 0.8 %

NYSE BIRK traded up $0.43 during trading on Thursday, hitting $57.59. 2,624,268 shares of the company traded hands, compared to its average volume of 1,060,974. The company has a market capitalization of $10.82 billion, a P/E ratio of 94.41, a PEG ratio of 1.19 and a beta of 2.22. The business has a fifty day simple moving average of $49.97 and a 200 day simple moving average of $53.08. Birkenstock has a 12 month low of $41.00 and a 12 month high of $64.78. The company has a current ratio of 2.91, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55.

Institutional Investors Weigh In On Birkenstock

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in Birkenstock by 50.5% during the 3rd quarter. Geode Capital Management LLC now owns 188,714 shares of the company's stock valued at $9,302,000 after purchasing an additional 63,289 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Birkenstock in the 3rd quarter worth approximately $1,536,000. Y Intercept Hong Kong Ltd grew its position in Birkenstock by 313.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 20,028 shares of the company's stock worth $987,000 after acquiring an additional 15,189 shares during the last quarter. State Street Corp raised its position in Birkenstock by 49.4% in the 3rd quarter. State Street Corp now owns 402,899 shares of the company's stock valued at $19,859,000 after purchasing an additional 133,212 shares during the last quarter. Finally, Stifel Financial Corp acquired a new position in Birkenstock in the third quarter worth $1,315,000. Institutional investors and hedge funds own 19.93% of the company's stock.

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.