Birkenstock (NYSE:BIRK) Now Covered by Analysts at Piper Sandler

Analysts at Piper Sandler initiated coverage on shares of Birkenstock (NYSE:BIRK) in a report issued on Tuesday,Briefing.com Automated Import reports. The brokerage set an “overweight” rating and a $65.00 price target on the stock. Piper Sandler’s target price indicates a potential upside of 19.68% from the company’s previous close.

A number of other equities research analysts have also issued reports on BIRK. Hsbc Global Res raised shares of Birkenstock to a “strong-buy” rating in a report on Tuesday, December 3rd. Evercore ISI reaffirmed 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 raised their target price on shares of Birkenstock from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. BMO Capital Markets restated an “outperform” rating and set a $60.00 target price on shares of Birkenstock in a report on Friday, August 30th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $70.00 price target on shares of Birkenstock in a report on Tuesday, September 24th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $66.25.

Birkenstock Stock Performance

Shares of NYSE:BIRK opened at $54.31 on Tuesday. The business’s 50 day moving average price is $48.80 and its 200-day moving average price is $52.88. Birkenstock has a 1 year low of $41.00 and a 1 year high of $64.78. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 1.49. The firm has a market capitalization of $10.20 billion, a PE ratio of 89.03, a P/E/G ratio of 1.16 and a beta of 2.22.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BIRK. Millennium Management LLC purchased a new stake in shares of Birkenstock in the 2nd quarter valued at approximately $61,972,000. FMR LLC raised its position in Birkenstock by 61.4% in the third quarter. FMR LLC now owns 2,128,689 shares of the company’s stock valued at $104,923,000 after purchasing an additional 809,784 shares during the period. Ghisallo Capital Management LLC raised its position in Birkenstock by 800.0% in the second quarter. Ghisallo Capital Management LLC now owns 900,000 shares of the company’s stock valued at $48,969,000 after purchasing an additional 800,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake 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 worth $163,230,000 after purchasing an additional 700,000 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. purchased a new position in shares of Birkenstock during the second quarter worth $25,098,000. Hedge funds and other institutional investors own 19.93% of the company’s stock.

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.