Birkenstock’s (BIRK) “Outperform” Rating Reiterated at Telsey Advisory Group

Birkenstock (NYSE:BIRK)‘s stock had its “outperform” rating reissued by analysts at Telsey Advisory Group in a research note issued on Thursday,Benzinga reports. They currently have a $70.00 target price on the stock. Telsey Advisory Group’s target price indicates a potential upside of 24.73% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. BMO Capital Markets boosted their price target on Birkenstock from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. HSBC upgraded Birkenstock from a “hold” rating to a “buy” rating and upped their target price for the company from $58.00 to $60.00 in a research report on Tuesday, December 3rd. Hsbc Global Res raised Birkenstock to a “strong-buy” rating in a research note on Tuesday, December 3rd. UBS Group increased their price objective on shares of Birkenstock from $83.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Robert W. Baird boosted 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, December 19th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.31.

Birkenstock Stock Up 1.6 %

BIRK opened at $56.12 on Thursday. The stock has a fifty day moving average of $57.43 and a 200-day moving average of $53.35. The company has a market capitalization of $10.54 billion, a P/E ratio of 51.96, a P/E/G ratio of 1.13 and a beta of 1.61. Birkenstock has a fifty-two week low of $41.00 and a fifty-two week high of $64.78. 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

Several hedge funds have recently added to or reduced their stakes in the business. Quarry LP bought a new stake in Birkenstock in the third quarter valued at approximately $25,000. Signaturefd LLC lifted its position in shares of Birkenstock by 642.6% in the 4th quarter. Signaturefd LLC now owns 505 shares of the company’s stock worth $29,000 after purchasing an additional 437 shares during the period. MetLife Investment Management LLC boosted its stake in shares of Birkenstock by 52.2% in 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 during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Birkenstock during the fourth quarter worth $34,000. Finally, GAMMA Investing LLC raised its stake in Birkenstock by 33.7% during the third quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock worth $44,000 after buying an additional 225 shares during the last quarter. 19.93% of the stock is currently 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.