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

Telsey Advisory Group restated their outperform rating on shares of Birkenstock (NYSE:BIRK) in a report issued on Wednesday,Benzinga reports. Telsey Advisory Group currently has a $70.00 price target on the stock.

Several other equities research analysts have also recently issued reports on BIRK. BTIG Research raised their price objective on Birkenstock from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. BMO Capital Markets raised their price target on Birkenstock from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Birkenstock from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Hsbc Global Res raised shares of Birkenstock to a “strong-buy” rating in a research report on Tuesday, December 3rd. Finally, Piper Sandler began coverage on shares of Birkenstock in a research report on Tuesday, December 10th. They set an “overweight” rating and a $65.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $68.31.

Birkenstock Stock Performance

Shares of BIRK opened at $58.41 on Wednesday. Birkenstock has a 1 year low of $41.00 and a 1 year high of $64.78. The company’s 50 day simple moving average is $54.72 and its 200 day simple moving average is $53.07. The company has a market capitalization of $10.97 billion, a price-to-earnings ratio of 54.08, a PEG ratio of 1.19 and a beta of 1.61. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.20 and a current ratio of 2.60.

Institutional Investors Weigh In On Birkenstock

Hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new stake in Birkenstock in the third quarter valued at approximately $25,000. MetLife Investment Management LLC grew its holdings 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 purchasing an additional 236 shares in the last quarter. GAMMA Investing LLC increased its stake in Birkenstock by 33.7% during the 3rd quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock worth $44,000 after buying an additional 225 shares during the period. Amalgamated Bank lifted 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 buying an additional 707 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new position in Birkenstock in the 3rd quarter valued at about $299,000. 19.93% of the stock is currently 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.