Birkenstock (NYSE:BIRK) Price Target Raised to $66.00 at Deutsche Bank Aktiengesellschaft

Birkenstock (NYSE:BIRK) had its price objective lifted by Deutsche Bank Aktiengesellschaft from $65.00 to $66.00 in a research report sent to investors on Thursday morning,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

Several other brokerages have also commented on BIRK. UBS Group cut their price target on shares of Birkenstock from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Tuesday, December 10th. Evercore ISI reissued an “outperform” rating and issued a $77.00 target price (up from $63.00) on shares of Birkenstock in a report on Monday, August 26th. Telsey Advisory Group restated an “outperform” rating and set a $70.00 price target on shares of Birkenstock in a research note on Friday, December 13th. Robert W. Baird lifted their price target on Birkenstock from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Hsbc Global Res raised Birkenstock to a “strong-buy” rating in a report on Tuesday, December 3rd. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $68.31.

Birkenstock Stock Performance

Shares of Birkenstock stock opened at $60.40 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. Birkenstock has a 52 week low of $41.00 and a 52 week high of $64.78. The firm’s 50 day moving average is $50.18 and its two-hundred day moving average is $53.10. The firm has a market capitalization of $11.34 billion, a P/E ratio of 99.02, a P/E/G ratio of 1.19 and a beta of 2.22.

Institutional Investors Weigh In On Birkenstock

Hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC raised its stake in shares of Birkenstock by 370.8% during the 3rd quarter. HighTower Advisors LLC now owns 26,165 shares of the company’s stock worth $1,289,000 after buying an additional 20,607 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Birkenstock during the third quarter worth $1,323,000. Federated Hermes Inc. raised its position in Birkenstock by 42.0% in the second quarter. Federated Hermes Inc. now owns 1,071,235 shares of the company’s stock worth $58,286,000 after acquiring an additional 316,935 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Birkenstock by 128.8% in the second quarter. Renaissance Technologies LLC now owns 124,000 shares of the company’s stock valued at $6,747,000 after acquiring an additional 69,800 shares during the period. Finally, Element Capital Management LLC purchased a new stake in shares of Birkenstock during the 2nd quarter worth $6,325,000. Institutional investors and hedge funds 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.