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.

UBS Group set a $77.00 target price on Birkenstock (NYSE:BIRK - Free Report) in a report issued on Tuesday morning, Marketbeat Ratings reports. The firm currently has a buy rating on the stock.

Several other brokerages have also recently commented on BIRK. Evercore ISI boosted their price target on shares of Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. BTIG Research upped their price target on shares of Birkenstock from $70.00 to $72.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Piper Sandler decreased their price target on Birkenstock from $70.00 to $60.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Stifel Nicolaus lifted their target price on Birkenstock from $62.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Finally, Bank of America upped their price target on shares of Birkenstock from $70.00 to $73.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $68.58.

Birkenstock Stock Performance

Shares of NYSE BIRK opened at $49.43 on Tuesday. Birkenstock has a 12-month low of $40.56 and a 12-month high of $64.78. The firm has a 50 day moving average of $51.07 and a 200 day moving average of $51.12. The firm has a market capitalization of $9.28 billion, a price-to-earnings ratio of 34.81, a price-to-earnings-growth ratio of 1.18 and a beta of 1.31. The company has a current ratio of 3.06, a quick ratio of 1.34 and a debt-to-equity ratio of 0.47.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BIRK. Signaturefd LLC increased its holdings in Birkenstock by 66.5% in the 1st quarter. Signaturefd LLC now owns 841 shares of the company's stock valued at $39,000 after purchasing an additional 336 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in Birkenstock during the 4th quarter valued at $45,000. GAMMA Investing LLC increased its stake in Birkenstock by 34.5% during the 2nd quarter. GAMMA Investing LLC now owns 908 shares of the company's stock worth $45,000 after buying an additional 233 shares during the period. Quarry LP boosted its position in Birkenstock by 120.3% in the 4th quarter. Quarry LP now owns 1,097 shares of the company's stock valued at $62,000 after buying an additional 599 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Birkenstock by 112.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,338 shares of the company's stock valued at $76,000 after acquiring an additional 707 shares in the last quarter. 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.