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

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

Several other brokerages have also commented on BIRK. BMO Capital Markets restated an “outperform” rating and issued a $60.00 price objective on shares of Birkenstock in a report on Friday, August 30th. Hsbc Global Res upgraded Birkenstock to a “strong-buy” rating in a research report on Tuesday, December 3rd. Stifel Nicolaus upped their price target on Birkenstock from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Piper Sandler began coverage on Birkenstock in a research report on Tuesday, December 10th. They set an “overweight” rating and a $65.00 price objective for the company. Finally, BTIG Research upped their target price on shares of Birkenstock from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.31.

Birkenstock Stock Up 4.9 %

Shares of NYSE BIRK opened at $60.40 on Thursday. The firm has a fifty day simple moving average of $50.18 and a two-hundred day simple moving average of $53.10. The firm has a market capitalization of $11.34 billion, a PE ratio of 99.02, a price-to-earnings-growth ratio of 1.19 and a beta of 2.22. 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 12 month low of $41.00 and a 12 month high of $64.78.

Hedge Funds Weigh In On Birkenstock

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BIRK. Quarry LP purchased a new position in shares of Birkenstock in the third quarter worth $25,000. MetLife Investment Management LLC raised its position in Birkenstock by 52.2% in the 3rd 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 lifted its stake in Birkenstock by 33.7% during the 3rd quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock valued at $44,000 after acquiring an additional 225 shares during the period. Amalgamated Bank boosted its holdings in shares of Birkenstock by 51.8% during 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 bought a new stake in shares of Birkenstock in the second quarter worth approximately $136,000. 19.93% of the stock is 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.