UBS Group Upgrades Birkenstock (NYSE:BIRK) to Buy

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

BIRK has been the topic of several other reports. Robert W. Baird boosted their target price on Birkenstock from $58.00 to $65.00 and gave the stock an outperform rating in a report on Friday, May 31st. Bank of America boosted their target price on Birkenstock from $54.00 to $62.00 and gave the stock a neutral rating in a report on Friday, May 31st. Deutsche Bank Aktiengesellschaft reissued a buy rating and issued a $70.00 target price on shares of Birkenstock in a report on Thursday, June 13th. Telsey Advisory Group restated an outperform rating and issued a $56.00 price objective on shares of Birkenstock in a research report on Thursday, May 30th. Finally, Evercore ISI boosted their price objective on shares of Birkenstock from $54.00 to $63.00 and gave the stock an outperform rating in a research report on Friday, May 31st. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Birkenstock has a consensus rating of Moderate Buy and an average price target of $60.12.

Birkenstock Stock Up 1.8 %

NYSE BIRK opened at $55.39 on Monday. The company has a quick ratio of 1.13, a current ratio of 2.87 and a debt-to-equity ratio of 0.56. The stock’s 50 day moving average is $51.79 and its two-hundred day moving average is $48.75. Birkenstock has a 1-year low of $35.83 and a 1-year high of $61.83.

Birkenstock (NYSE:BIRK) last released its quarterly earnings data on Thursday, May 30th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. The company had revenue of $522.51 million for the quarter, compared to analyst estimates of $499.98 million. As a group, equities analysts expect that Birkenstock will post 1.36 EPS for the current year.

Institutional Trading of Birkenstock

A number of large investors have recently made changes to their positions in BIRK. Banque Cantonale Vaudoise bought a new stake in shares of Birkenstock in the 1st quarter valued at $40,000. Tower Research Capital LLC TRC bought a new stake in shares of Birkenstock in the 4th quarter valued at $77,000. Venturi Wealth Management LLC bought a new stake in shares of Birkenstock in the 4th quarter valued at $83,000. CWM LLC increased its position in shares of 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. bought a new stake in shares of 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.