Telsey Advisory Group Reaffirms Outperform Rating for Birkenstock (NYSE:BIRK)

Birkenstock (NYSE:BIRK)‘s stock had its “outperform” rating reissued by equities research analysts at Telsey Advisory Group in a report issued on Friday,Benzinga reports. They presently have a $70.00 price target on the stock. Telsey Advisory Group’s target price points to a potential upside of 27.13% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Piper Sandler began coverage on shares of Birkenstock in a research note on Tuesday, December 10th. They issued an “overweight” rating and a $65.00 price objective on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $60.00 price target on shares of Birkenstock in a research report on Friday, August 30th. Hsbc Global Res upgraded shares of Birkenstock to a “strong-buy” rating in a research note on Tuesday, December 3rd. BTIG Research set a $60.00 price objective on Birkenstock and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, HSBC upgraded Birkenstock from a “hold” rating to a “buy” rating and lifted their target price for the company from $58.00 to $60.00 in a research report on Tuesday, December 3rd. Two equities research 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. According to MarketBeat.com, Birkenstock currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.13.

Birkenstock Stock Up 2.7 %

Birkenstock stock opened at $55.06 on Friday. The stock has a market cap of $10.34 billion, a PE ratio of 90.26, a price-to-earnings-growth ratio of 1.19 and a beta of 2.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 2.91. The stock has a fifty day moving average of $49.31 and a 200 day moving average of $53.01. Birkenstock has a one year low of $41.00 and a one year high of $64.78.

Institutional Trading of Birkenstock

Several hedge funds have recently bought and sold shares of the stock. Federated Hermes Inc. increased its holdings in shares of Birkenstock by 42.0% in the second quarter. Federated Hermes Inc. now owns 1,071,235 shares of the company’s stock worth $58,286,000 after purchasing an additional 316,935 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Birkenstock by 128.8% during the 2nd quarter. Renaissance Technologies LLC now owns 124,000 shares of the company’s stock worth $6,747,000 after acquiring an additional 69,800 shares in the last quarter. Element Capital Management LLC bought a new position in shares of Birkenstock during the 2nd quarter valued at approximately $6,325,000. Bradley Foster & Sargent Inc. CT bought a new position in shares of Birkenstock during the 2nd quarter valued at approximately $849,000. Finally, Dark Forest Capital Management LP purchased a new position in shares of Birkenstock in the second quarter valued at $602,000. 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.