Birkenstock (NYSE:BIRK) Earns “Outperform” Rating from Telsey Advisory Group

Birkenstock (NYSE:BIRK)‘s stock had its “outperform” rating reissued by research analysts at Telsey Advisory Group in a note issued to investors on Thursday,Benzinga reports. They presently have a $70.00 price target on the stock. Telsey Advisory Group’s price objective would suggest a potential upside of 15.89% from the stock’s previous close.

A number of other research firms also recently weighed in on BIRK. Hsbc Global Res raised Birkenstock to a “strong-buy” rating in a report on Tuesday, December 3rd. BTIG Research boosted their price objective on shares of Birkenstock from $60.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised their target price on shares of Birkenstock from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday. UBS Group cut their price target on Birkenstock from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Tuesday, December 10th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $60.00 price target on shares of Birkenstock in a research report on Friday, August 30th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Birkenstock has an average rating of “Moderate Buy” and an average price target of $68.31.

Birkenstock Price Performance

Shares of NYSE BIRK opened at $60.40 on Thursday. The firm has a market cap of $11.34 billion, a P/E ratio of 99.02, a price-to-earnings-growth ratio of 1.19 and a beta of 2.22. The business’s 50 day moving average is $49.97 and its 200-day moving average 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. 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 hedge funds have recently made changes to their positions in BIRK. Quarry LP acquired a new position in Birkenstock during the 3rd quarter worth approximately $25,000. MetLife Investment Management LLC grew its stake in shares of Birkenstock by 52.2% during the third quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock worth $34,000 after buying an additional 236 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Birkenstock by 33.7% during the third quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock worth $44,000 after buying an additional 225 shares in the last quarter. Amalgamated Bank lifted 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 acquiring an additional 707 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Birkenstock during the 2nd quarter valued at $136,000. 19.93% of the stock is currently owned by institutional investors and hedge funds.

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.