UBS Group Boosts Birkenstock (NYSE:BIRK) Price Target to $76.00

Birkenstock (NYSE:BIRK) had its target price boosted by stock analysts at UBS Group from $72.00 to $76.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price target indicates a potential upside of 34.04% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Stifel Nicolaus lifted their price target on shares of Birkenstock from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Friday. Piper Sandler cut their price target on shares of Birkenstock from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. BTIG Research lifted their price target on shares of Birkenstock from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday. Robert W. Baird lifted their price target on shares of Birkenstock from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $70.00 price objective on shares of Birkenstock in a report on Thursday. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.63.

Birkenstock Stock Performance

Shares of BIRK stock opened at $56.70 on Friday. The firm has a market cap of $10.65 billion, a price-to-earnings ratio of 45.73, a PEG ratio of 1.02 and a beta of 1.56. The company’s 50 day moving average is $48.32 and its 200 day moving average is $51.68. The company has a quick ratio of 1.08, a current ratio of 2.84 and a debt-to-equity ratio of 0.48. Birkenstock has a 52-week low of $40.56 and a 52-week high of $64.78.

Birkenstock (NYSE:BIRK) last released its quarterly earnings results on Thursday, May 15th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. The business had revenue of $623.54 million for the quarter, compared to analyst estimates of $567.84 million. On average, sell-side analysts anticipate that Birkenstock will post 1.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. raised its position in shares of Birkenstock by 25.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,167,145 shares of the company’s stock worth $236,914,000 after acquiring an additional 1,042,891 shares during the period. Bamco Inc. NY raised its position in shares of Birkenstock by 8.3% in the fourth quarter. Bamco Inc. NY now owns 3,359,351 shares of the company’s stock worth $190,341,000 after acquiring an additional 256,844 shares during the period. Norges Bank acquired a new position in shares of Birkenstock in the fourth quarter worth about $131,786,000. Westfield Capital Management Co. LP acquired a new position in shares of Birkenstock in the first quarter worth about $72,108,000. Finally, Capital World Investors raised its position in shares of Birkenstock by 1.1% in the fourth quarter. Capital World Investors now owns 1,490,366 shares of the company’s stock worth $84,444,000 after acquiring an additional 16,466 shares during the period. 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.