Birkenstock (NYSE:BIRK) Rating Reiterated by Telsey Advisory Group

Birkenstock (NYSE:BIRK)‘s stock had its “outperform” rating restated by stock analysts at Telsey Advisory Group in a note issued to investors on Tuesday, Benzinga reports. They presently have a $70.00 target price on the stock. Telsey Advisory Group’s price objective would suggest a potential upside of 41.84% from the stock’s previous close.

Several other research analysts have also recently commented on the stock. BNP Paribas began coverage on shares of Birkenstock in a research report on Thursday, June 20th. They issued an “outperform” rating and a $68.00 target price for the company. BMO Capital Markets restated an “outperform” rating and issued a $60.00 target price on shares of Birkenstock in a research report on Friday, August 30th. The Goldman Sachs Group lowered Birkenstock from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $54.20 to $58.00 in a research report on Wednesday, June 12th. Robert W. Baird upped their price objective on shares of Birkenstock from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Finally, Evercore ISI reiterated an “outperform” rating and issued a $77.00 target price (up previously from $63.00) on shares of Birkenstock in a research report on Monday, August 26th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Birkenstock presently has an average rating of “Moderate Buy” and an average target price of $62.23.

Birkenstock Stock Down 1.6 %

Shares of NYSE:BIRK opened at $49.35 on Tuesday. Birkenstock has a 1-year low of $35.83 and a 1-year high of $64.78. The company’s fifty day moving average is $54.34 and its two-hundred day moving average is $51.54. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 2.91. The stock has a market capitalization of $9.27 billion and a price-to-earnings ratio of 56.94.

Birkenstock (NYSE:BIRK) last issued its earnings results on Thursday, August 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). The business had revenue of $564.76 million during the quarter, compared to the consensus estimate of $628.70 million. Birkenstock had a return on equity of 5.79% and a net margin of 6.26%. Equities analysts anticipate that Birkenstock will post 1.37 EPS for the current year.

Hedge Funds Weigh In On Birkenstock

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in shares of Birkenstock by 377.1% in the second quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $36,000 after buying an additional 528 shares during the period. Banque Cantonale Vaudoise acquired a new position in Birkenstock in the 1st quarter worth approximately $40,000. CWM LLC grew its position in Birkenstock by 358.2% during the 1st quarter. CWM LLC now owns 2,181 shares of the company’s stock worth $103,000 after purchasing an additional 1,705 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Birkenstock during the 2nd quarter valued at $136,000. Finally, MSA Advisors LLC purchased a new stake in shares of Birkenstock in the second quarter valued at $223,000. Institutional investors and hedge funds own 19.93% of the company’s stock.

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.