BTIG Research Reiterates “Buy” Rating for Birkenstock (NYSE:BIRK)

Birkenstock (NYSE:BIRK)‘s stock had its “buy” rating reiterated by equities researchers at BTIG Research in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $72.00 target price on the stock. BTIG Research’s price objective points to a potential upside of 52.28% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Telsey Advisory Group reissued an “outperform” rating and set a $70.00 price objective on shares of Birkenstock in a research report on Friday, December 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Birkenstock in a research note on Monday, December 8th. Guggenheim upgraded shares of Birkenstock to a “strong-buy” rating in a research note on Wednesday, December 10th. Finally, JPMorgan Chase & Co. cut their price target on Birkenstock from $81.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Birkenstock presently has a consensus rating of “Buy” and a consensus price target of $68.38.

Birkenstock Trading Up 3.4%

Shares of BIRK stock opened at $47.28 on Monday. The firm has a market cap of $8.88 billion, a P/E ratio of 26.27, a price-to-earnings-growth ratio of 0.87 and a beta of 1.14. The business has a 50-day moving average price of $42.03 and a two-hundred day moving average price of $46.99. The company has a quick ratio of 1.29, a current ratio of 2.78 and a debt-to-equity ratio of 0.50. Birkenstock has a 12-month low of $38.16 and a 12-month high of $62.66.

Hedge Funds Weigh In On Birkenstock

A number of large investors have recently modified their holdings of BIRK. Armistice Capital LLC acquired a new position in shares of Birkenstock during the 3rd quarter worth $679,000. PharVision Advisers LLC purchased a new stake in Birkenstock in the 3rd quarter worth approximately $268,000. Unisphere Establishment grew its position in shares of Birkenstock by 86.8% in the third quarter. Unisphere Establishment now owns 238,200 shares of the company’s stock valued at $10,779,000 after purchasing an additional 110,700 shares during the period. Scientech Research LLC acquired a new position in shares of Birkenstock during the 3rd quarter valued at about $235,000. Finally, Quarry LP raised its stake in Birkenstock by 99.2% during the third quarter. Quarry LP now owns 988 shares of the company’s stock worth $45,000 after purchasing an additional 492 shares during the period. 19.93% of the stock is owned by hedge funds and other institutional investors.

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.