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

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

Several other analysts also recently weighed in on the company. BMO Capital Markets lifted their price objective on Birkenstock from $54.00 to $60.00 and gave the company an outperform rating in a report on Friday, May 31st. Deutsche Bank Aktiengesellschaft restated a buy rating and issued a $70.00 price target on shares of Birkenstock in a report on Thursday, June 13th. Bank of America increased their price objective on shares of Birkenstock from $54.00 to $62.00 and gave the company a neutral rating in a research note on Friday, May 31st. Robert W. Baird boosted their price objective on shares of Birkenstock from $58.00 to $65.00 and gave the stock an outperform rating in a research note on Friday, May 31st. Finally, JPMorgan Chase & Co. increased their target price on Birkenstock from $56.00 to $64.00 and gave the company an overweight rating in a research report on Monday, June 3rd. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $60.12.

Birkenstock Price Performance

Shares of NYSE:BIRK opened at $56.50 on Monday. The firm’s 50 day simple moving average is $52.23 and its 200-day simple moving average is $48.85. The company has a quick ratio of 1.13, a current ratio of 2.87 and a debt-to-equity ratio of 0.56. Birkenstock has a one year low of $35.83 and a one year high of $61.83.

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. Analysts forecast that Birkenstock will post 1.36 earnings per share for the current year.

Institutional Trading of Birkenstock

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in Birkenstock by 377.1% during the 2nd quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock valued at $36,000 after purchasing an additional 528 shares in the last quarter. Interval Partners LP grew its holdings in shares of Birkenstock by 233.5% during the first quarter. Interval Partners LP now owns 183,452 shares of the company’s stock valued at $8,668,000 after buying an additional 128,452 shares during the last quarter. Bwcp LP grew its holdings in shares of Birkenstock by 162.3% during the first quarter. Bwcp LP now owns 209,645 shares of the company’s stock valued at $9,906,000 after buying an additional 129,726 shares during the last quarter. Steadfast Capital Management LP acquired a new position in shares of Birkenstock in the 1st quarter valued at $2,079,000. Finally, Bamco Inc. NY raised its stake in Birkenstock by 1.4% in the 1st quarter. Bamco Inc. NY now owns 2,974,458 shares of the company’s stock worth $140,543,000 after acquiring an additional 40,457 shares during the last quarter. 19.93% of the stock is currently 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.