UBS Group Has Lowered Expectations for Birkenstock (NYSE:BIRK) Stock Price

Birkenstock (NYSE:BIRK) had its price objective lowered by UBS Group from $85.00 to $83.00 in a research note released on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also recently weighed in on BIRK. Hsbc Global Res raised shares of Birkenstock to a “strong-buy” rating in a report on Tuesday, December 3rd. HSBC raised Birkenstock from a “hold” rating to a “buy” rating and lifted their price target for the stock from $58.00 to $60.00 in a report on Tuesday, December 3rd. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of Birkenstock in a report on Tuesday, September 24th. BTIG Research set a $60.00 target price on Birkenstock and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Evercore ISI restated an “outperform” rating and issued a $77.00 price target (up from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $66.13.

Birkenstock Price Performance

NYSE:BIRK opened at $54.37 on Tuesday. The firm’s fifty day moving average price is $48.93 and its two-hundred day moving average price is $52.92. 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 $10.21 billion, a P/E ratio of 89.13, a P/E/G ratio of 1.16 and a beta of 2.22. Birkenstock has a one year low of $41.00 and a one year high of $64.78.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP bought a new stake in Birkenstock in the third quarter worth approximately $25,000. MetLife Investment Management LLC lifted its position in shares of 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 period. GAMMA Investing LLC increased its stake in Birkenstock by 33.7% in the third quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock valued at $44,000 after purchasing an additional 225 shares in the last quarter. Amalgamated Bank raised its holdings in shares of Birkenstock by 51.8% during the third 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 period. Finally, Acadian Asset Management LLC bought a new position in shares of Birkenstock during the 2nd quarter worth about $136,000. 19.93% of the stock is owned by institutional investors and hedge funds.

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.