Birkenstock (NYSE:BIRK) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Birkenstock (NYSE:BIRK) had its price objective boosted by Robert W. Baird from $65.00 to $72.00 in a report released on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 25.96% from the company’s previous close.

Several other analysts have also weighed in on BIRK. BMO Capital Markets reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of Birkenstock in a research note on Friday, August 30th. UBS Group reduced their target price on shares of Birkenstock from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Tuesday, December 10th. Hsbc Global Res raised Birkenstock to a “strong-buy” rating in a research note on Tuesday, December 3rd. HSBC upgraded shares of Birkenstock from a “hold” rating to a “buy” rating and boosted their target price for the company from $58.00 to $60.00 in a report on Tuesday, December 3rd. Finally, Piper Sandler began coverage on Birkenstock in a report on Tuesday, December 10th. They set an “overweight” rating and a $65.00 price target for the company. Two investment 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.94.

Birkenstock Stock Up 2.0 %

NYSE BIRK opened at $57.16 on Thursday. The business has a fifty day moving average price of $49.81 and a two-hundred day moving average price of $53.05. The stock has a market capitalization of $10.74 billion, a PE ratio of 93.70, a PEG ratio of 1.19 and a beta of 2.22. Birkenstock has a fifty-two week low of $41.00 and a fifty-two week 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.

Institutional Trading of Birkenstock

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of Birkenstock by 50.5% during the 3rd quarter. Geode Capital Management LLC now owns 188,714 shares of the company’s stock worth $9,302,000 after acquiring an additional 63,289 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Birkenstock during the third quarter valued at about $1,536,000. Y Intercept Hong Kong Ltd boosted its position in Birkenstock by 313.9% during the third quarter. Y Intercept Hong Kong Ltd now owns 20,028 shares of the company’s stock worth $987,000 after purchasing an additional 15,189 shares during the period. State Street Corp increased its stake in shares of Birkenstock by 49.4% in the third quarter. State Street Corp now owns 402,899 shares of the company’s stock worth $19,859,000 after purchasing an additional 133,212 shares in the last quarter. Finally, Stifel Financial Corp bought a new stake in shares of Birkenstock in the third quarter valued at approximately $1,315,000. 19.93% of the stock is owned by hedge funds and other 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.