Birkenstock (NYSE:BIRK) Upgraded to Buy at UBS Group

UBS Group upgraded shares of Birkenstock (NYSE:BIRK) from a neutral rating to a buy rating in a research note published on Monday, Marketbeat.com reports. The brokerage currently has $85.00 price target on the stock, up from their previous price target of $52.00.

A number of other analysts have also weighed in on BIRK. Evercore ISI upped their target price on Birkenstock from $54.00 to $63.00 and gave the stock an outperform rating in a report on Friday, May 31st. JPMorgan Chase & Co. upped their target price on Birkenstock from $56.00 to $64.00 and gave the stock an overweight rating in a report on Monday, June 3rd. Morgan Stanley upped their target price on Birkenstock from $44.00 to $58.00 and gave the stock an equal weight rating in a report on Tuesday, June 25th. Stifel Nicolaus upped their target price on Birkenstock from $54.00 to $63.00 and gave the stock a buy rating in a report on Friday, May 31st. Finally, BNP Paribas started coverage on Birkenstock in a report on Thursday, June 20th. They set an outperform rating and a $68.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $60.12.

Birkenstock Trading Up 1.9 %

Shares of NYSE:BIRK opened at $56.50 on Monday. Birkenstock has a 52-week low of $35.83 and a 52-week high of $61.83. The business’s 50 day moving average is $52.47 and its 200 day moving average is $48.91. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.87 and a quick ratio of 1.13.

Birkenstock (NYSE:BIRK) last announced its quarterly earnings data 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 firm had revenue of $522.51 million during the quarter, compared to the consensus estimate of $499.98 million. Sell-side analysts predict that Birkenstock will post 1.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Birkenstock

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blackstone Inc. acquired a new stake in Birkenstock during the 4th quarter worth about $3,411,000. Ghisallo Capital Management LLC acquired a new stake in Birkenstock during the 4th quarter worth about $4,873,000. Capital International Ltd. CA acquired a new stake in Birkenstock during the 4th quarter worth about $1,909,000. New York State Common Retirement Fund acquired a new stake in Birkenstock during the 4th quarter worth about $1,067,000. Finally, Treasurer of the State of North Carolina acquired a new stake in Birkenstock during the 4th quarter worth about $643,000. 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.