UBS Group Lowers Birkenstock (NYSE:BIRK) Price Target to $83.00

Birkenstock (NYSE:BIRK) had its target price lowered by UBS Group from $85.00 to $83.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s target price would suggest a potential upside of 51.85% from the stock’s current price.

A number of other equities research analysts have also weighed in on the stock. Hsbc Global Res upgraded shares of Birkenstock to a “strong-buy” rating in a report on Tuesday, December 3rd. HSBC upgraded shares of Birkenstock from a “hold” rating to a “buy” rating and raised their price objective for the company from $58.00 to $60.00 in a report on Tuesday, December 3rd. Evercore ISI reiterated an “outperform” rating and set a $77.00 price target (up from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. Telsey Advisory Group reiterated an “outperform” rating and set a $70.00 price target on shares of Birkenstock in a research note on Tuesday, September 24th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $60.00 price target on shares of Birkenstock in a research note on Friday, August 30th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.13.

Birkenstock Stock Up 0.6 %

Shares of BIRK traded up $0.34 during midday trading on Tuesday, reaching $54.66. The stock had a trading volume of 710,187 shares, compared to its average volume of 1,015,222. Birkenstock has a 1-year low of $41.00 and a 1-year high of $64.78. The company’s fifty day simple moving average is $48.80 and its two-hundred day simple moving average is $52.88. The company has a market cap of $10.27 billion, a price-to-earnings ratio of 89.07, a PEG ratio of 1.16 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 Trading of Birkenstock

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. boosted its holdings in Birkenstock by 42.0% during the second quarter. Federated Hermes Inc. now owns 1,071,235 shares of the company’s stock worth $58,286,000 after buying an additional 316,935 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Birkenstock by 128.8% during the second quarter. Renaissance Technologies LLC now owns 124,000 shares of the company’s stock worth $6,747,000 after buying an additional 69,800 shares in the last quarter. Element Capital Management LLC purchased a new stake in Birkenstock during the second quarter worth about $6,325,000. Bradley Foster & Sargent Inc. CT purchased a new stake in Birkenstock during the second quarter worth about $849,000. Finally, Dark Forest Capital Management LP purchased a new stake in Birkenstock during the second quarter worth about $602,000. 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.