Birkenstock (NYSE:BIRK) Earns Outperform Rating from Telsey Advisory Group

Birkenstock (NYSE:BIRK)‘s stock had its “outperform” rating reiterated by research analysts at Telsey Advisory Group in a research note issued on Wednesday,Benzinga reports. They currently have a $70.00 price target on the stock. Telsey Advisory Group’s target price points to a potential upside of 18.77% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Hsbc Global Res raised shares of Birkenstock to a “strong-buy” rating in a research note on Tuesday, December 3rd. Robert W. Baird upped their price objective on Birkenstock from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. BMO Capital Markets raised their target price on Birkenstock from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. UBS Group lifted their target price on Birkenstock from $83.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Birkenstock from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.31.

Birkenstock Trading Down 1.7 %

Shares of Birkenstock stock opened at $58.94 on Wednesday. Birkenstock has a twelve month low of $41.00 and a twelve month high of $64.78. The firm’s 50-day moving average price is $54.45 and its 200 day moving average price is $53.04. The company has a current ratio of 2.60, a quick ratio of 1.20 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $11.07 billion, a PE ratio of 54.57, a P/E/G ratio of 1.19 and a beta of 1.61.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Quarry LP acquired a new stake in shares of Birkenstock in the third quarter valued at approximately $25,000. MetLife Investment Management LLC boosted its stake in Birkenstock by 52.2% during the 3rd quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock worth $34,000 after purchasing an additional 236 shares during the period. GAMMA Investing LLC grew its position in Birkenstock by 33.7% during the 3rd quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock worth $44,000 after purchasing an additional 225 shares during the last quarter. Amalgamated Bank increased its stake in 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 period. Finally, Point72 DIFC Ltd purchased a new stake in shares of Birkenstock in the third quarter valued at about $299,000. Hedge funds and other institutional investors 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.