Telsey Advisory Group Reaffirms “Outperform” Rating for Birkenstock (NYSE:BIRK)

Telsey Advisory Group reaffirmed their outperform rating on shares of Birkenstock (NYSE:BIRK) in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a $70.00 price target on the stock.

BIRK has been the subject of a number of other reports. Evercore ISI reaffirmed an outperform rating and issued a $77.00 price objective (up from $63.00) on shares of Birkenstock in a research report on Monday, August 26th. 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 research report on Friday, May 31st. JPMorgan Chase & Co. upped their price objective on shares of Birkenstock from $56.00 to $64.00 and gave the stock an overweight rating in a research report on Monday, June 3rd. Stifel Nicolaus upped their price objective on shares of Birkenstock from $63.00 to $70.00 and gave the stock a buy rating in a research report on Friday, August 23rd. Finally, BMO Capital Markets reaffirmed an outperform rating and issued a $60.00 price objective on shares of Birkenstock in a research report on Friday, August 30th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Birkenstock has a consensus rating of Moderate Buy and a consensus target price of $62.23.

Birkenstock Trading Up 1.0 %

BIRK opened at $49.83 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 1.49. Birkenstock has a fifty-two week low of $35.83 and a fifty-two week high of $64.78. The firm has a market capitalization of $9.36 billion and a PE ratio of 56.94. The company’s 50-day moving average is $54.26 and its 200 day moving average is $51.53.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets bought a new position in Birkenstock in the 1st quarter worth approximately $702,000. Capital World Investors boosted its holdings in Birkenstock by 1.0% in the 1st quarter. Capital World Investors now owns 1,469,369 shares of the company’s stock worth $69,428,000 after buying an additional 14,089 shares during the period. Blackstone Inc. bought a new position in Birkenstock in the 4th quarter worth approximately $3,411,000. SG Americas Securities LLC bought a new position in Birkenstock in the 1st quarter worth approximately $744,000. Finally, Ghisallo Capital Management LLC bought a new position in Birkenstock in the 4th quarter worth approximately $4,873,000. 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.