BMO Capital Markets Forecasts Strong Price Appreciation for Birkenstock (NYSE:BIRK) Stock

Birkenstock (NYSE:BIRK) had its target price lifted by stock analysts at BMO Capital Markets from $60.00 to $70.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 15.89% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft upped their price target on Birkenstock from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday. BTIG Research upped their price target on Birkenstock from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday. Evercore ISI reiterated an “outperform” rating and set a $77.00 price objective (up previously from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. Stifel Nicolaus increased their target price on Birkenstock from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, 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. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.31.

Birkenstock Stock Performance

NYSE:BIRK 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. The firm’s fifty day simple moving average is $49.97 and its 200 day simple moving average is $53.08. The stock has a market cap of $11.34 billion, a P/E ratio of 99.02, a price-to-earnings-growth ratio of 1.19 and a beta of 2.22. Birkenstock has a twelve month low of $41.00 and a twelve month high of $64.78.

Institutional Investors Weigh In On Birkenstock

A number of large investors have recently made changes to their positions in BIRK. Bamco Inc. NY lifted its stake in shares of Birkenstock by 2.6% in the 3rd quarter. Bamco Inc. NY now owns 3,102,507 shares of the company’s stock worth $152,923,000 after purchasing an additional 78,093 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in Birkenstock by 30.4% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,000,000 shares of the company’s stock valued at $163,230,000 after buying an additional 700,000 shares during the period. FMR LLC increased its holdings in Birkenstock by 61.4% during the third quarter. FMR LLC now owns 2,128,689 shares of the company’s stock valued at $104,923,000 after buying an additional 809,784 shares during the last quarter. Millennium Management LLC bought a new position in Birkenstock in the second quarter worth approximately $61,972,000. Finally, Federated Hermes Inc. boosted its stake in shares of Birkenstock by 42.0% during the 2nd 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 during the last quarter. 19.93% of the stock is currently owned by 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.