Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for Birkenstock (NYSE:BIRK) Stock Price

Birkenstock (NYSE:BIRK) had its price target dropped by stock analysts at Deutsche Bank Aktiengesellschaft from $69.00 to $65.00 in a report released on Wednesday. The firm currently has a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 12.87% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Stifel Nicolaus boosted their price target on shares of Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Hsbc Global Res raised Birkenstock to a “strong-buy” rating in a research note on Tuesday, December 3rd. BMO Capital Markets reaffirmed an “outperform” rating and set a $60.00 price target on shares of Birkenstock in a research report on Friday, August 30th. UBS Group decreased their price objective on Birkenstock from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Tuesday, December 10th. Finally, Piper Sandler began coverage on shares of Birkenstock in a report on Tuesday, December 10th. They set an “overweight” rating and a $65.00 target price on the stock. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Birkenstock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.31.

Birkenstock Stock Performance

Shares of NYSE:BIRK opened at $57.59 on Wednesday. The firm’s 50 day simple moving average is $49.97 and its 200 day simple moving average is $53.08. Birkenstock has a fifty-two week low of $41.00 and a fifty-two week high of $64.78. The company has a market capitalization of $10.82 billion, a price-to-earnings ratio of 94.41, a P/E/G ratio of 1.19 and a beta of 2.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 1.49.

Institutional Trading of Birkenstock

Institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC bought a new stake in shares of Birkenstock during the 2nd quarter worth approximately $61,972,000. FMR LLC grew its position in shares of Birkenstock by 61.4% in the 3rd quarter. FMR LLC now owns 2,128,689 shares of the company’s stock valued at $104,923,000 after acquiring an additional 809,784 shares during the period. Ghisallo Capital Management LLC raised its holdings in shares of Birkenstock by 800.0% in the 2nd quarter. Ghisallo Capital Management LLC now owns 900,000 shares of the company’s stock valued at $48,969,000 after purchasing an additional 800,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Birkenstock by 30.4% in the 2nd 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 purchasing an additional 700,000 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new position in Birkenstock during the second quarter worth approximately $25,098,000. Institutional investors 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.