UBS Group Issues Pessimistic Forecast for Birkenstock (NYSE:BIRK) Stock Price

Birkenstock (NYSE:BIRK) had its price target decreased by investment analysts at UBS Group from $85.00 to $83.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective would suggest a potential upside of 53.28% from the company’s previous close.

A number of other brokerages also recently commented on BIRK. Evercore ISI reiterated an “outperform” rating and set a $77.00 target price (up previously from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. HSBC upgraded Birkenstock from a “hold” rating to a “buy” rating and increased their price objective for the company from $58.00 to $60.00 in a report on Tuesday, December 3rd. Telsey Advisory Group restated an “outperform” rating and set a $70.00 target price on shares of Birkenstock in a research note on Tuesday, September 24th. Stifel Nicolaus upped their price target on Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Hsbc Global Res raised shares of Birkenstock to a “strong-buy” rating in a report on Tuesday, December 3rd. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $66.13.

Birkenstock Stock Down 0.4 %

Shares of Birkenstock stock opened at $54.15 on Tuesday. Birkenstock has a 52-week low of $41.00 and a 52-week high of $64.78. The company has a 50 day moving average of $49.06 and a 200 day moving average of $52.93. The company has a quick ratio of 1.49, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $10.17 billion, a P/E ratio of 88.77, a P/E/G ratio of 1.16 and a beta of 2.22.

Institutional Trading of Birkenstock

Institutional investors and hedge funds have recently modified their holdings of the business. Bamco Inc. NY raised its stake in Birkenstock by 2.6% in the 3rd quarter. Bamco Inc. NY now owns 3,102,507 shares of the company’s stock valued at $152,923,000 after purchasing an additional 78,093 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Birkenstock by 30.4% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,000,000 shares of the company’s stock valued at $163,230,000 after buying an additional 700,000 shares during the last quarter. FMR LLC lifted its stake in shares of Birkenstock by 61.4% during the third quarter. FMR LLC now owns 2,128,689 shares of the company’s stock valued at $104,923,000 after buying an additional 809,784 shares during the period. Millennium Management LLC acquired a new stake in Birkenstock during the second quarter worth approximately $61,972,000. Finally, Federated Hermes Inc. grew its stake in Birkenstock by 42.0% in the 2nd quarter. Federated Hermes Inc. now owns 1,071,235 shares of the company’s stock worth $58,286,000 after acquiring an additional 316,935 shares during the period. Hedge funds and other 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.