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

Birkenstock (NYSE:BIRK - Get Free Report) had its price objective hoisted by analysts at UBS Group from $83.00 to $95.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. UBS Group's price objective indicates a potential upside of 64.96% from the company's previous close.

Other equities analysts have also issued reports about the stock. Piper Sandler started coverage on shares of Birkenstock in a report on Tuesday, December 10th. They set an "overweight" rating and a $65.00 target price for the company. Stifel Nicolaus increased their target price on Birkenstock from $63.00 to $70.00 and gave the stock a "buy" rating in a research note on Friday, August 23rd. Robert W. Baird lifted their price target on Birkenstock from $65.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday. Hsbc Global Res raised shares of Birkenstock to a "strong-buy" rating in a research report on Tuesday, December 3rd. Finally, Evercore ISI restated an "outperform" rating and set a $77.00 price objective (up from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $68.31.

Birkenstock Stock Up 0.8 %

Birkenstock stock traded up $0.43 during trading hours on Thursday, hitting $57.59. 2,624,268 shares of the stock traded hands, compared to its average volume of 1,060,974. Birkenstock has a one year low of $41.00 and a one year high of $64.78. The company has a market cap of $10.82 billion, a PE ratio of 94.41, a PEG ratio of 1.19 and a beta of 2.22. The firm's 50-day moving average price is $49.97 and its two-hundred day moving average price is $53.08. The company has a current ratio of 2.91, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55.

Institutional Trading of Birkenstock

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BIRK. Geode Capital Management LLC lifted its position in shares of Birkenstock by 50.5% during the 3rd quarter. Geode Capital Management LLC now owns 188,714 shares of the company's stock valued at $9,302,000 after buying an additional 63,289 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Birkenstock during the third quarter valued at $1,536,000. Y Intercept Hong Kong Ltd lifted its stake in Birkenstock by 313.9% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 20,028 shares of the company's stock worth $987,000 after purchasing an additional 15,189 shares in the last quarter. State Street Corp boosted its stake in Birkenstock by 49.4% during the third quarter. State Street Corp now owns 402,899 shares of the company's stock valued at $19,859,000 after buying an additional 133,212 shares during the last quarter. Finally, Stifel Financial Corp purchased a new position in shares of Birkenstock in the third quarter valued at $1,315,000. 19.93% of the stock is owned by hedge funds and other institutional investors.

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.