BMO Capital Markets Raises Birkenstock (NYSE:BIRK) Price Target to $70.00

Birkenstock (NYSE:BIRK) had its price target increased by equities research analysts at BMO Capital Markets from $60.00 to $70.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 22.46% from the stock’s previous close.

A number of other equities research analysts also recently commented on BIRK. Evercore ISI reiterated an “outperform” rating and set a $77.00 price objective (up previously from $63.00) on shares of Birkenstock in a research report on Monday, August 26th. Piper Sandler started coverage on Birkenstock in a report on Tuesday, December 10th. They set an “overweight” rating and a $65.00 target price for the company. HSBC raised Birkenstock from a “hold” rating to a “buy” rating and lifted their price target for the stock from $58.00 to $60.00 in a research note on Tuesday, December 3rd. Robert W. Baird upped their price objective on shares of Birkenstock from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $70.00 target price on shares of Birkenstock in a research report on Thursday. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.56.

Birkenstock Trading Up 2.0 %

Shares of BIRK stock opened at $57.16 on Thursday. The company has a quick ratio of 1.49, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. The stock has a 50-day simple moving average of $49.81 and a 200 day simple moving average of $53.05. Birkenstock has a fifty-two week low of $41.00 and a fifty-two week high of $64.78. The stock has a market capitalization of $10.74 billion, a P/E ratio of 93.70, a P/E/G ratio of 1.19 and a beta of 2.22.

Institutional Investors Weigh In On Birkenstock

A number of hedge funds and other institutional investors have recently made changes to their positions in BIRK. Bank of New York Mellon Corp increased its stake in shares of Birkenstock by 19.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 62,776 shares of the company’s stock worth $3,416,000 after purchasing an additional 10,157 shares during the last quarter. Principal Financial Group Inc. bought a new position in Birkenstock during the second quarter valued at about $4,323,000. TD Asset Management Inc lifted its position in shares of Birkenstock by 22.6% in the second quarter. TD Asset Management Inc now owns 244,372 shares of the company’s stock worth $13,296,000 after buying an additional 45,000 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Birkenstock in the second quarter worth about $18,755,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Birkenstock during the 2nd quarter worth about $136,000. 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.