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

Birkenstock (NYSE:BIRK) had its target price reduced by UBS Group from $85.00 to $83.00 in a research note issued to investors on Tuesday,Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other brokerages have also recently weighed in on BIRK. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Birkenstock in a report on Tuesday, September 24th. Stifel Nicolaus raised their price objective on shares of Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a report on Friday, August 23rd. BTIG Research set a $60.00 target price on shares of Birkenstock and gave the stock a “buy” rating in a research note on Friday, October 18th. Piper Sandler began coverage on Birkenstock in a research note on Tuesday. They issued an “overweight” rating and a $65.00 price target on the stock. Finally, Hsbc Global Res raised Birkenstock to a “strong-buy” rating in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.13.

Birkenstock Price Performance

Shares of NYSE BIRK opened at $53.59 on Tuesday. The stock’s 50-day moving average is $49.19 and its two-hundred day moving average is $52.93. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 1.49. The company has a market cap of $10.07 billion, a price-to-earnings ratio of 87.85, a price-to-earnings-growth ratio of 1.16 and a beta of 2.22. Birkenstock has a 1-year low of $41.00 and a 1-year high of $64.78.

Institutional Investors Weigh In On Birkenstock

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIRK. Quarry LP purchased a new stake in shares of Birkenstock in the third quarter valued at about $25,000. MetLife Investment Management LLC raised its stake in Birkenstock by 52.2% during the 3rd quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock valued at $34,000 after acquiring an additional 236 shares during the last quarter. GAMMA Investing LLC lifted its position in Birkenstock by 33.7% during the 3rd quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock worth $44,000 after acquiring an additional 225 shares during the period. Amalgamated Bank grew its stake in shares of Birkenstock by 51.8% in the 3rd quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock valued at $102,000 after purchasing an additional 707 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Birkenstock in the second quarter valued at approximately $136,000. Hedge funds and other institutional investors 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.