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 research note issued to investors on Thursday, Marketbeat reports. They currently have a $56.00 price target on the stock.

Several other research analysts have also recently weighed in on the company. Robert W. Baird raised their target price on Birkenstock from $54.00 to $58.00 and gave the company an outperform rating in a research note on Friday, March 1st. BMO Capital Markets lifted their price objective on shares of Birkenstock from $50.00 to $54.00 and gave the stock an outperform rating in a research report on Friday, March 1st. UBS Group upped their target price on Birkenstock from $51.00 to $52.00 and gave the company a neutral rating in a report on Monday, March 4th. Finally, Piper Sandler upped their price target on shares of Birkenstock from $56.50 to $61.00 and gave the stock an overweight rating in a research note on Friday, March 1st. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $49.15.

Birkenstock Trading Up 3.9 %

Birkenstock stock opened at $48.11 on Thursday. Birkenstock has a one year low of $35.83 and a one year high of $55.00. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.28 and a current ratio of 2.85. The company has a 50-day simple moving average of $45.27 and a 200-day simple moving average of $46.41.

Birkenstock (NYSE:BIRK) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). The firm had revenue of $303.00 million during the quarter, compared to the consensus estimate of $289.09 million. The firm’s revenue was up 21.9% on a year-over-year basis. On average, sell-side analysts forecast that Birkenstock will post 1.29 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund bought a new position in Birkenstock during the fourth quarter valued at about $1,067,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Birkenstock in the fourth quarter valued at about $1,886,000. Federated Hermes Inc. bought a new position in shares of Birkenstock in the fourth quarter worth about $27,152,000. Amalgamated Bank bought a new position in Birkenstock in the 4th quarter worth approximately $233,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Birkenstock during the fourth quarter worth $1,949,000. 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.