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

Birkenstock (NYSE:BIRK)‘s stock had its “outperform” rating reaffirmed by equities researchers at Telsey Advisory Group in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $70.00 price target on the stock. Telsey Advisory Group’s price target indicates a potential upside of 22.46% from the stock’s previous close.

BIRK has been the topic of a number of other reports. Stifel Nicolaus lifted their price objective on shares of Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Robert W. Baird raised their target price on shares of Birkenstock from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday. Hsbc Global Res raised shares of Birkenstock to a “strong-buy” rating in a research report on Tuesday, December 3rd. Piper Sandler began coverage on Birkenstock in a report on Tuesday, December 10th. They issued an “overweight” rating and a $65.00 price objective for the company. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $60.00 target price on shares of Birkenstock in a report on Friday, August 30th. Two 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $66.94.

Birkenstock Trading Up 2.0 %

Shares of NYSE:BIRK opened at $57.16 on Thursday. The firm has a market cap of $10.74 billion, a price-to-earnings ratio of 93.70, a PEG ratio of 1.19 and a beta of 2.22. The company has a quick ratio of 1.49, a current ratio of 2.91 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. The company’s fifty day simple moving average is $49.81 and its 200 day simple moving average is $53.05.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new position in Birkenstock in the 3rd quarter valued at about $25,000. MetLife Investment Management LLC lifted its position in Birkenstock by 52.2% during the third quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock worth $34,000 after acquiring an additional 236 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Birkenstock by 33.7% during the third quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock worth $44,000 after acquiring an additional 225 shares during the period. Amalgamated Bank grew its position in shares of Birkenstock by 51.8% in the third quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock valued at $102,000 after purchasing an additional 707 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Birkenstock during the second quarter worth approximately $136,000. 19.93% of the stock is owned by institutional investors and hedge funds.

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.