Deutsche Bank Aktiengesellschaft Lowers Birkenstock (NYSE:BIRK) Price Target to $65.00

Birkenstock (NYSE:BIRK) had its price target cut by Deutsche Bank Aktiengesellschaft from $69.00 to $65.00 in a research note released on Wednesday. They currently have a neutral rating on the stock.

Several other research analysts have also commented on BIRK. Piper Sandler initiated coverage on Birkenstock in a report on Tuesday, December 10th. They set an “overweight” rating and a $65.00 price objective for the company. Evercore ISI restated an “outperform” rating and set a $77.00 target price (up from $63.00) on shares of Birkenstock in a report on Monday, August 26th. Hsbc Global Res upgraded shares of Birkenstock to a “strong-buy” rating in a research report on Tuesday, December 3rd. HSBC upgraded shares of Birkenstock from a “hold” rating to a “buy” rating and lifted their price target for the company from $58.00 to $60.00 in a report on Tuesday, December 3rd. Finally, UBS Group decreased their target price on Birkenstock from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.44.

Birkenstock Price Performance

BIRK opened at $57.16 on Wednesday. The company has a market capitalization of $10.74 billion, a price-to-earnings ratio of 93.70, a PEG 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. The firm has a 50-day moving average price of $49.81 and a 200-day moving average price of $53.05. Birkenstock has a twelve month low of $41.00 and a twelve month high of $64.78.

Institutional Trading of Birkenstock

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bamco Inc. NY grew its stake in Birkenstock by 2.6% in the 3rd quarter. Bamco Inc. NY now owns 3,102,507 shares of the company’s stock valued at $152,923,000 after acquiring an additional 78,093 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Birkenstock by 30.4% in 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 purchasing an additional 700,000 shares during the period. FMR LLC grew its position in Birkenstock by 61.4% in the third quarter. FMR LLC now owns 2,128,689 shares of the company’s stock worth $104,923,000 after acquiring an additional 809,784 shares during the period. Millennium Management LLC acquired a new position in Birkenstock in the second quarter valued at about $61,972,000. Finally, Federated Hermes Inc. lifted its stake in Birkenstock by 42.0% during the second quarter. Federated Hermes Inc. now owns 1,071,235 shares of the company’s stock worth $58,286,000 after purchasing an additional 316,935 shares in the last quarter. 19.93% of the stock is 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.