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

Telsey Advisory Group reiterated their outperform rating on shares of Birkenstock (NYSE:BIRK) in a report released on Thursday,Benzinga reports. They currently have a $70.00 price target on the stock.

Several other equities research analysts have also issued reports on BIRK. Hsbc Global Res raised Birkenstock to a “strong-buy” rating in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft boosted their price objective on Birkenstock from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday. Robert W. Baird raised their target price on shares of Birkenstock from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday. BTIG Research boosted their price target on shares of Birkenstock from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Piper Sandler assumed coverage on shares of Birkenstock in a research report on Tuesday, December 10th. They set an “overweight” rating and a $65.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $68.31.

Birkenstock Stock Performance

NYSE BIRK opened at $60.40 on Thursday. The company’s 50 day simple moving average is $50.18 and its two-hundred day simple moving average is $53.10. The stock has a market capitalization of $11.34 billion, a PE ratio of 99.02, a P/E/G ratio of 1.19 and a beta of 2.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 1.49. Birkenstock has a 1 year low of $41.00 and a 1 year high of $64.78.

Hedge Funds Weigh In On Birkenstock

A number of large investors have recently bought and sold shares of the stock. Quarry LP bought a new position in shares of Birkenstock in the third quarter worth approximately $25,000. MetLife Investment Management LLC boosted its position in 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 buying an additional 236 shares during the period. GAMMA Investing LLC grew its holdings in Birkenstock by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock worth $44,000 after acquiring an additional 225 shares during the last quarter. Amalgamated Bank increased its position in shares of Birkenstock by 51.8% in the third 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 period. Finally, Acadian Asset Management LLC bought a new position in shares of Birkenstock during the second quarter valued at about $136,000. 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.