Birkenstock (NYSE:BIRK) Given New $70.00 Price Target at BMO Capital Markets

Birkenstock (NYSE:BIRK) had its price objective hoisted by BMO Capital Markets from $60.00 to $70.00 in a report issued on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

BIRK has been the topic of a number of other reports. BTIG Research upped their price objective on Birkenstock from $60.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday. Stifel Nicolaus lifted their target price on Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a report on Friday, August 23rd. UBS Group dropped their price objective on shares of Birkenstock from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Tuesday, December 10th. Telsey Advisory Group reiterated an “outperform” rating and issued a $70.00 price target on shares of Birkenstock in a research note on Thursday. Finally, Robert W. Baird lifted their target price on Birkenstock from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday. Two investment 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, Birkenstock presently has an average rating of “Moderate Buy” and a consensus price target of $68.31.

Birkenstock Price Performance

Shares of NYSE BIRK opened at $57.59 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 1.49. Birkenstock has a 12 month low of $41.00 and a 12 month high of $64.78. The firm’s 50 day simple moving average is $49.97 and its 200-day simple moving average is $53.08. The stock has a market capitalization of $10.82 billion, a price-to-earnings ratio of 94.41, a PEG ratio of 1.19 and a beta of 2.22.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BIRK. Quarry LP acquired a new position in shares of Birkenstock during the third quarter worth approximately $25,000. MetLife Investment Management LLC increased its holdings in shares of Birkenstock by 52.2% during the 3rd 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 increased its position in Birkenstock by 33.7% during the 3rd quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock worth $44,000 after buying an additional 225 shares during the period. Amalgamated Bank grew its position in Birkenstock by 51.8% during the third quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock worth $102,000 after buying an additional 707 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Birkenstock in the 2nd quarter valued at approximately $136,000. Institutional investors and hedge funds own 19.93% of the company’s stock.

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.