Birkenstock (NYSE:BIRK) Raised to “Buy” at UBS Group

UBS Group upgraded shares of Birkenstock (NYSE:BIRK) from a neutral rating to a buy rating in a report published on Monday, MarketBeat reports. The firm currently has $85.00 price target on the stock, up from their prior price target of $52.00.

Other research analysts also recently issued reports about the stock. Stifel Nicolaus boosted their price objective on shares of Birkenstock from $54.00 to $63.00 and gave the company a buy rating in a research report on Friday, May 31st. The Goldman Sachs Group cut shares of Birkenstock from a buy rating to a neutral rating and boosted their price target for the company from $54.20 to $58.00 in a research report on Wednesday, June 12th. BNP Paribas began coverage on shares of Birkenstock in a report on Thursday, June 20th. They issued an outperform rating and a $68.00 price objective for the company. Bank of America lifted their price objective on Birkenstock from $54.00 to $62.00 and gave the company a neutral rating in a research report on Friday, May 31st. Finally, Telsey Advisory Group reissued an outperform rating and issued a $56.00 target price on shares of Birkenstock in a research report on Thursday, May 30th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $60.12.

Birkenstock Trading Up 1.9 %

BIRK stock opened at $56.50 on Monday. The firm’s 50-day moving average price is $52.23 and its two-hundred day moving average price is $48.85. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 2.87. Birkenstock has a 12-month low of $35.83 and a 12-month high of $61.83.

Birkenstock (NYSE:BIRK) last posted its earnings results on Thursday, May 30th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.09. The business had revenue of $522.51 million during the quarter, compared to the consensus estimate of $499.98 million. As a group, analysts expect that Birkenstock will post 1.36 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BIRK. Blackstone Inc. purchased a new position in Birkenstock in the 4th quarter worth approximately $3,411,000. Ghisallo Capital Management LLC purchased a new position in shares of Birkenstock in the fourth quarter worth $4,873,000. Capital International Ltd. CA bought a new position in shares of Birkenstock during the fourth quarter valued at $1,909,000. New York State Common Retirement Fund purchased a new stake in shares of Birkenstock during the fourth quarter valued at $1,067,000. Finally, Treasurer of the State of North Carolina bought a new stake in Birkenstock in the 4th quarter worth about $643,000. 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.