Birkenstock (NYSE:BIRK) Given New $65.00 Price Target at Deutsche Bank Aktiengesellschaft

Birkenstock (NYSE:BIRK) had its price target decreased by research analysts at Deutsche Bank Aktiengesellschaft from $69.00 to $65.00 in a research note issued on Wednesday. The firm currently has a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 9.10% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. Evercore ISI reiterated an “outperform” rating and set a $77.00 price target (up previously from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. BTIG Research set a $60.00 target price on shares of Birkenstock and gave the company a “buy” rating in a research note on Friday, October 18th. HSBC upgraded shares of Birkenstock from a “hold” rating to a “buy” rating and raised their price target for the stock from $58.00 to $60.00 in a research note on Tuesday, December 3rd. Telsey Advisory Group reissued an “outperform” rating and issued a $70.00 target price on shares of Birkenstock in a report on Friday, December 13th. Finally, Piper Sandler started coverage on Birkenstock in a research note on Tuesday, December 10th. They issued an “overweight” rating and a $65.00 price target on the stock. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.81.

Birkenstock Stock Performance

Shares of BIRK stock traded up $3.52 during mid-day trading on Wednesday, reaching $59.58. The stock had a trading volume of 1,670,112 shares, compared to its average volume of 1,035,473. The firm has a market cap of $11.19 billion, a PE ratio of 98.67, a P/E/G ratio of 1.19 and a beta of 2.22. The company has a quick ratio of 1.49, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. Birkenstock has a one year low of $41.00 and a one year high of $64.78. The firm’s 50 day simple moving average is $49.65 and its 200 day simple moving average is $53.02.

Hedge Funds Weigh In On Birkenstock

Large investors have recently modified their holdings of the stock. Quarry LP acquired a new position in Birkenstock during the 3rd quarter worth $25,000. MetLife Investment Management LLC raised its position in shares of Birkenstock by 52.2% during the third quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock worth $34,000 after acquiring an additional 236 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Birkenstock by 33.7% during the third quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock worth $44,000 after acquiring an additional 225 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Birkenstock by 51.8% during the third quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock valued at $102,000 after acquiring an additional 707 shares during the period. Finally, Acadian Asset Management LLC bought a new position in Birkenstock in the second quarter valued at about $136,000. 19.93% of the stock is currently owned by institutional investors and hedge funds.

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.