UBS Group Forecasts Strong Price Appreciation for Birkenstock (NYSE:BIRK) Stock

Birkenstock (NYSE:BIRK) had its target price boosted by stock analysts at UBS Group from $83.00 to $95.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s target price suggests a potential upside of 66.20% from the company’s previous close.

Several other equities analysts have also weighed in on the company. Hsbc Global Res raised Birkenstock to a “strong-buy” rating in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Birkenstock from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday. BTIG Research upped their target price on shares of Birkenstock from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday. BMO Capital Markets lifted their price target on shares of Birkenstock from $60.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Piper Sandler initiated coverage on shares of Birkenstock in a report on Tuesday, December 10th. They issued an “overweight” rating and a $65.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $68.31.

Birkenstock Price Performance

BIRK opened at $57.16 on Thursday. The company has a fifty day moving average price of $49.81 and a two-hundred day moving average price of $53.05. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 2.91. The firm has a market capitalization of $10.74 billion, a PE ratio of 93.70, a P/E/G ratio of 1.19 and a beta of 2.22. Birkenstock has a 52 week low of $41.00 and a 52 week high of $64.78.

Hedge Funds Weigh In On Birkenstock

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP acquired a new position in Birkenstock during the third quarter worth about $25,000. MetLife Investment Management LLC increased its position in Birkenstock by 52.2% during the 3rd quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock worth $34,000 after purchasing an additional 236 shares in the last quarter. GAMMA Investing LLC lifted its stake in Birkenstock by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock valued at $44,000 after purchasing an additional 225 shares during the last quarter. Amalgamated Bank grew its stake in shares of Birkenstock by 51.8% during the third quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock worth $102,000 after buying an additional 707 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Birkenstock during the second quarter worth $136,000. 19.93% of the stock is currently owned by institutional investors and hedge funds.

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.