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

Birkenstock (NYSE:BIRK) had its target price boosted by Deutsche Bank Aktiengesellschaft from $65.00 to $66.00 in a research report released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also weighed in on BIRK. HSBC upgraded Birkenstock from a “hold” rating to a “buy” rating and increased their target price for the stock from $58.00 to $60.00 in a research note on Tuesday, December 3rd. Stifel Nicolaus lifted their price objective on shares of Birkenstock from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. BTIG Research increased their target price on shares of Birkenstock from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday. UBS Group dropped their price target on shares of Birkenstock from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Tuesday, December 10th. Finally, Robert W. Baird increased their price target on Birkenstock from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday. Two equities 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $68.31.

Birkenstock Stock Performance

NYSE BIRK opened at $57.59 on Thursday. The stock has a market cap of $10.82 billion, a PE 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 quick ratio of 1.49 and a current ratio of 2.91. The firm has a 50-day moving average of $49.97 and a 200-day moving average of $53.08. Birkenstock has a 52-week low of $41.00 and a 52-week high of $64.78.

Institutional Investors Weigh In On Birkenstock

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