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

Telsey Advisory Group reissued their outperform rating on shares of Birkenstock (NYSE:BIRK) in a research report report published on Thursday,Benzinga reports. Telsey Advisory Group currently has a $70.00 target price on the stock.

A number of other equities research analysts have also recently commented on BIRK. Hsbc Global Res upgraded Birkenstock to a “strong-buy” rating in a research note on Tuesday, December 3rd. Piper Sandler initiated coverage on Birkenstock in a research report on Tuesday, December 10th. They issued an “overweight” rating and a $65.00 target price on the stock. UBS Group lowered their price target on Birkenstock from $85.00 to $83.00 and set a “buy” rating for the company in a report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Birkenstock from $65.00 to $66.00 and gave the company a “buy” rating in a report on Thursday. Finally, BTIG Research increased their price target on shares of Birkenstock from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.31.

Birkenstock Price Performance

BIRK stock opened at $57.59 on Thursday. Birkenstock has a 12 month low of $41.00 and a 12 month high of $64.78. The company has a current ratio of 2.91, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. The stock has a market cap of $10.82 billion, a PE ratio of 94.41, a P/E/G ratio of 1.19 and a beta of 2.22. The company has a 50-day moving average price of $49.97 and a 200 day moving average price of $53.08.

Hedge Funds Weigh In On Birkenstock

Several institutional investors and hedge funds have recently modified their holdings of the business. HighTower Advisors LLC lifted its position in Birkenstock by 370.8% during the 3rd quarter. HighTower Advisors LLC now owns 26,165 shares of the company’s stock worth $1,289,000 after buying an additional 20,607 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Birkenstock in the third quarter worth about $1,323,000. Federated Hermes Inc. increased its holdings in shares of Birkenstock by 42.0% during the second quarter. Federated Hermes Inc. now owns 1,071,235 shares of the company’s stock worth $58,286,000 after buying an additional 316,935 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Birkenstock by 128.8% in the 2nd quarter. Renaissance Technologies LLC now owns 124,000 shares of the company’s stock valued at $6,747,000 after buying an additional 69,800 shares during the last quarter. Finally, Element Capital Management LLC bought a new stake in Birkenstock in the second quarter valued at approximately $6,325,000. 19.93% of the stock is currently owned by institutional investors and hedge funds.

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.