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

Telsey Advisory Group reaffirmed their outperform rating on shares of Birkenstock (NYSE:BIRK) in a research note published on Thursday morning,Benzinga reports. They currently have a $70.00 price objective on the stock.

BIRK has been the topic of a number of other reports. BTIG Research increased their price target on shares of Birkenstock from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday. Stifel Nicolaus boosted their price objective on shares of Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Evercore ISI restated an “outperform” rating and issued a $77.00 target price (up previously from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. HSBC upgraded shares of Birkenstock from a “hold” rating to a “buy” rating and upped their price objective for the stock from $58.00 to $60.00 in a report on Tuesday, December 3rd. Finally, Robert W. Baird raised their target price on Birkenstock from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday. Two 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.31.

Birkenstock Trading Up 0.8 %

Shares of BIRK stock opened at $57.59 on Thursday. The company’s fifty day simple moving average is $49.97 and its two-hundred day simple moving average is $53.08. 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. The stock has a market capitalization of $10.82 billion, a price-to-earnings ratio of 94.41, a PEG ratio of 1.19 and a beta of 2.22.

Institutional Investors Weigh In On Birkenstock

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP purchased a new stake in shares of Birkenstock during the third quarter valued at $25,000. MetLife Investment Management LLC lifted its holdings 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 buying an additional 236 shares during the last quarter. GAMMA Investing LLC increased its holdings in Birkenstock by 33.7% in the third quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock worth $44,000 after buying an additional 225 shares during the last quarter. Amalgamated Bank raised its position in 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 acquiring an additional 707 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Birkenstock in the second quarter valued at approximately $136,000. 19.93% of the stock is currently owned by institutional investors.

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.