UBS Group Raises Birkenstock (NYSE:BIRK) Price Target to $95.00

Birkenstock (NYSE:BIRK) had its price target hoisted by research analysts at UBS Group from $83.00 to $95.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s target price indicates a potential upside of 57.28% from the company’s current price.

A number of other brokerages have also weighed in on BIRK. Telsey Advisory Group restated an “outperform” rating and set a $70.00 price target on shares of Birkenstock in a research note on Thursday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Birkenstock from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday. HSBC raised shares of Birkenstock from a “hold” rating to a “buy” rating and raised their price target for the stock from $58.00 to $60.00 in a report on Tuesday, December 3rd. Hsbc Global Res raised shares of Birkenstock to a “strong-buy” rating in a report on Tuesday, December 3rd. Finally, Robert W. Baird raised their target price on Birkenstock from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Birkenstock currently has an average rating of “Moderate Buy” and a consensus price target of $68.31.

Birkenstock Stock Up 4.9 %

Shares of BIRK stock opened at $60.40 on Thursday. The stock’s fifty day moving average price is $49.97 and its 200 day moving average price is $53.08. Birkenstock has a 1-year low of $41.00 and a 1-year high of $64.78. The company has a market cap of $11.34 billion, a price-to-earnings ratio of 99.02, a price-to-earnings-growth ratio of 1.19 and a beta of 2.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 1.49.

Institutional Investors Weigh In On Birkenstock

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in shares of Birkenstock by 19.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 62,776 shares of the company’s stock valued at $3,416,000 after purchasing an additional 10,157 shares during the period. Principal Financial Group Inc. acquired a new position in shares of Birkenstock in the second quarter worth about $4,323,000. TD Asset Management Inc boosted its stake in shares of Birkenstock by 22.6% during the 2nd quarter. TD Asset Management Inc now owns 244,372 shares of the company’s stock worth $13,296,000 after acquiring an additional 45,000 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Birkenstock during the 2nd quarter valued at about $18,755,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Birkenstock in the 2nd quarter valued at about $136,000. Institutional investors and hedge funds 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.