Birkenstock (NYSE:BIRK) Price Target Cut to $65.00 by Analysts at Deutsche Bank Aktiengesellschaft

Birkenstock (NYSE:BIRK) had its target price decreased by Deutsche Bank Aktiengesellschaft from $69.00 to $65.00 in a report published on Wednesday. Deutsche Bank Aktiengesellschaft currently has a neutral rating on the stock.

Several other brokerages also recently weighed in on BIRK. UBS Group lowered their target price on Birkenstock from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Tuesday, December 10th. Piper Sandler began coverage on Birkenstock in a research note on Tuesday, December 10th. They issued an “overweight” rating and a $65.00 price objective for the company. BMO Capital Markets reiterated an “outperform” rating and issued a $60.00 price target on shares of Birkenstock in a research report on Friday, August 30th. BTIG Research set a $60.00 target price on shares of Birkenstock and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $77.00 price objective (up previously from $63.00) on shares of Birkenstock in a research report on Monday, August 26th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.44.

Birkenstock Stock Up 2.0 %

NYSE:BIRK opened at $57.16 on Wednesday. Birkenstock has a 52 week low of $41.00 and a 52 week high of $64.78. The stock’s fifty day moving average is $49.81 and its two-hundred day moving average is $53.05. The stock has a market capitalization of $10.74 billion, a price-to-earnings ratio of 93.70, a price-to-earnings-growth 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.

Hedge Funds Weigh In On Birkenstock

A number of institutional investors have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of Birkenstock during the 3rd quarter valued at $25,000. MetLife Investment Management LLC grew its holdings in 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 lifted its holdings 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 boosted its holdings in Birkenstock by 51.8% in 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 last quarter. Finally, Acadian Asset Management LLC acquired a new position in Birkenstock in the second quarter valued at $136,000. 19.93% of the stock is currently owned by institutional investors and hedge funds.

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.