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

Birkenstock (NYSE:BIRK) was upgraded by equities researchers at UBS Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, Briefing.com reports. The firm currently has a $85.00 price objective on the stock, up from their prior price objective of $52.00. UBS Group’s price objective points to a potential upside of 56.22% from the stock’s previous close.

BIRK has been the subject of several other reports. Robert W. Baird boosted their price objective on Birkenstock from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $70.00 target price on shares of Birkenstock in a research report on Thursday, June 13th. BMO Capital Markets boosted their target price on Birkenstock from $54.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. JPMorgan Chase & Co. boosted their target price on Birkenstock from $56.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, June 3rd. Finally, BNP Paribas assumed coverage on Birkenstock in a research 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 given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.40.

Birkenstock Stock Up 0.2 %

Birkenstock stock opened at $54.41 on Monday. The stock has a 50-day simple moving average of $51.56 and a 200 day simple moving average of $48.71. 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 12-month low of $35.83 and a 12-month 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 for the quarter, topping the consensus estimate of $0.35 by $0.09. The firm had revenue of $522.51 million for the quarter, compared to the consensus estimate of $499.98 million. On average, equities research analysts predict that Birkenstock will post 1.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Birkenstock

A number of large investors have recently added to or reduced their stakes in BIRK. Banque Cantonale Vaudoise bought a new stake in Birkenstock in the 1st quarter valued at $40,000. Tower Research Capital LLC TRC acquired a new position in Birkenstock in the 4th quarter valued at $77,000. Venturi Wealth Management LLC acquired a new position in Birkenstock in the 4th quarter valued at $83,000. CWM LLC grew its holdings in Birkenstock by 358.2% in the 1st quarter. CWM LLC now owns 2,181 shares of the company’s stock valued at $103,000 after buying an additional 1,705 shares in the last quarter. Finally, Connable Office Inc. acquired a new position in Birkenstock in the 4th quarter valued at $216,000. Institutional investors own 19.93% of the company’s stock.

About Birkenstock

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.