Birkenstock’s (BIRK) “Outperform” Rating Reaffirmed at Telsey Advisory Group

Birkenstock (NYSE:BIRK)‘s stock had its “outperform” rating restated by Telsey Advisory Group in a report issued on Friday,Benzinga reports. They presently have a $70.00 price objective on the stock. Telsey Advisory Group’s target price would suggest a potential upside of 30.62% from the stock’s current price.

Several other equities research analysts also recently commented on the company. HSBC raised Birkenstock from a “hold” rating to a “buy” rating and boosted their target price for the stock from $58.00 to $60.00 in a report on Tuesday, December 3rd. Stifel Nicolaus upped their price target on shares of Birkenstock from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Piper Sandler initiated coverage on shares of Birkenstock in a research note on Tuesday. They set an “overweight” rating and a $65.00 price objective for the company. BTIG Research set a $60.00 target price on shares of Birkenstock and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Evercore ISI reissued an “outperform” rating and set a $77.00 price target (up previously from $63.00) on shares of Birkenstock in a research report on Monday, August 26th. Two 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 data from MarketBeat, Birkenstock has an average rating of “Moderate Buy” and an average target price of $66.13.

Birkenstock Price Performance

BIRK stock opened at $53.59 on Friday. 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 firm has a 50 day moving average price of $49.19 and a 200-day moving average price of $52.93. Birkenstock has a 52-week low of $41.00 and a 52-week high of $64.78. The firm has a market capitalization of $10.07 billion, a price-to-earnings ratio of 87.85, a PEG ratio of 1.19 and a beta of 2.22.

Hedge Funds Weigh In On Birkenstock

Several institutional investors have recently made changes to their positions in BIRK. GAMMA Investing LLC increased its holdings in Birkenstock by 33.7% during the third quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock valued at $44,000 after buying an additional 225 shares during the last quarter. MetLife Investment Management LLC grew 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. Quarry LP purchased a new stake in shares of Birkenstock in the 3rd quarter worth $25,000. Amalgamated Bank raised its holdings in Birkenstock by 51.8% in the 3rd quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock worth $102,000 after purchasing an additional 707 shares during the period. Finally, Venturi Wealth Management LLC lifted its position in Birkenstock by 58.8% during the third quarter. Venturi Wealth Management LLC now owns 6,670 shares of the company’s stock valued at $329,000 after purchasing an additional 2,470 shares in the last quarter. Institutional investors own 19.93% of the company’s stock.

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.