Birkenstock (NYSE:BIRK) PT Set at $77.00 by UBS Group

Key Points

• UBS Group has raised its target price for Birkenstock (NYSE:BIRK) from $76.00 to $77.00, indicating a potential upside of 53.10% from the previous close, alongside a "buy" rating.
• Multiple analysts, including BMO Capital Markets and Bank of America, have also increased their target prices and assigned "outperform" or "buy" ratings, reflecting a consensus "Buy" rating among thirteen analysts.
• Birkenstock's recent earnings exceeded analysts' expectations, reporting $0.58 earnings per share and revenue of $623.54 million, marking a 19.3% increase compared to the same quarter last year.

Birkenstock (NYSE:BIRK - Get Free Report) received a $77.00 target price from stock analysts at UBS Group in a research report issued to clients and investors on Tuesday, MarketBeat reports. The brokerage presently has a "buy" rating on the stock. UBS Group's price target indicates a potential upside of 59.75% from the stock's previous close.

BIRK has been the topic of a number of other research reports. BMO Capital Markets raised their price target on shares of Birkenstock from $70.00 to $75.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. The Goldman Sachs Group raised shares of Birkenstock from a "neutral" rating to a "buy" rating and set a $60.00 price target on the stock in a report on Thursday, July 24th. Telsey Advisory Group reissued an "outperform" rating and issued a $70.00 price target on shares of Birkenstock in a report on Tuesday, August 5th. William Blair reissued an "outperform" rating on shares of Birkenstock in a report on Tuesday, June 3rd. Finally, Bank of America raised their price target on shares of Birkenstock from $70.00 to $73.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Thirteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $68.58.

Birkenstock Trading Down 0.6%

NYSE:BIRK traded down $0.31 during trading hours on Tuesday, reaching $48.20. The company's stock had a trading volume of 1,235,681 shares, compared to its average volume of 1,886,562. The firm has a market capitalization of $9.05 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 1.15 and a beta of 1.31. The firm has a 50-day simple moving average of $50.86 and a 200-day simple moving average of $50.91. Birkenstock has a 1 year low of $40.56 and a 1 year high of $64.78. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.34 and a current ratio of 3.06.

Birkenstock (NYSE:BIRK - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.01. The business had revenue of $623.54 million for the quarter, compared to analyst estimates of $567.84 million. Birkenstock had a net margin of 12.86% and a return on equity of 10.22%. The company's revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 EPS. Research analysts expect that Birkenstock will post 1.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Birkenstock

Several hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in Birkenstock by 34.5% during the second quarter. GAMMA Investing LLC now owns 908 shares of the company's stock worth $45,000 after acquiring an additional 233 shares in the last quarter. Signaturefd LLC boosted its stake in Birkenstock by 66.5% during the first quarter. Signaturefd LLC now owns 841 shares of the company's stock worth $39,000 after acquiring an additional 336 shares in the last quarter. Connable Office Inc. boosted its stake in Birkenstock by 7.8% during the second quarter. Connable Office Inc. now owns 4,767 shares of the company's stock worth $234,000 after acquiring an additional 344 shares in the last quarter. Legal & General Group Plc boosted its stake in Birkenstock by 12.3% during the fourth quarter. Legal & General Group Plc now owns 3,158 shares of the company's stock worth $179,000 after acquiring an additional 347 shares in the last quarter. Finally, Malaga Cove Capital LLC boosted its stake in Birkenstock by 3.5% during the fourth quarter. Malaga Cove Capital LLC now owns 12,108 shares of the company's stock worth $686,000 after acquiring an additional 407 shares in the last quarter. 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.