Birkenstock (NYSE:BIRK) Upgraded to Buy at HSBC

HSBC upgraded shares of Birkenstock (NYSE:BIRKFree Report) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. HSBC currently has $60.00 target price on the stock, up from their prior target price of $58.00.

Several other equities research analysts have also weighed in on BIRK. Evercore ISI reissued an “outperform” rating and issued a $77.00 price objective (up previously from $63.00) on shares of Birkenstock in a report on Monday, August 26th. Telsey Advisory Group reissued an “outperform” rating and issued a $70.00 price objective on shares of Birkenstock in a report on Tuesday, September 24th. BMO Capital Markets reissued an “outperform” rating and issued a $60.00 price objective on shares of Birkenstock in a report on Friday, August 30th. BTIG Research set a $60.00 target price on Birkenstock and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Stifel Nicolaus raised 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. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $66.00.

Read Our Latest Stock Analysis on Birkenstock

Birkenstock Trading Up 1.6 %

Shares of BIRK opened at $52.34 on Tuesday. The business has a 50-day moving average of $48.46 and a 200 day moving average of $52.67. Birkenstock has a fifty-two week low of $41.00 and a fifty-two week high of $64.78. The firm has a market cap of $9.83 billion, a P/E ratio of 85.80, a price-to-earnings-growth ratio of 1.11 and a beta of 2.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 2.91.

Institutional Trading of Birkenstock

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in Birkenstock by 377.1% in the 2nd quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $36,000 after purchasing an additional 528 shares during the period. Renaissance Capital LLC increased its stake in Birkenstock by 36.5% in the 2nd quarter. Renaissance Capital LLC now owns 22,682 shares of the company’s stock worth $1,234,000 after purchasing an additional 6,068 shares during the period. SG Americas Securities LLC increased its stake in Birkenstock by 439.5% in the 2nd quarter. SG Americas Securities LLC now owns 84,997 shares of the company’s stock worth $4,625,000 after purchasing an additional 69,242 shares during the period. Bank of New York Mellon Corp increased its stake in Birkenstock by 19.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 62,776 shares of the company’s stock worth $3,416,000 after purchasing an additional 10,157 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in Birkenstock in the 2nd quarter worth approximately $4,323,000. Institutional investors own 19.93% of the company’s stock.

Birkenstock Company Profile

(Get Free Report)

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.

Recommended Stories

Analyst Recommendations for Birkenstock (NYSE:BIRK)

Receive News & Ratings for Birkenstock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Birkenstock and related companies with MarketBeat.com's FREE daily email newsletter.