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

Telsey Advisory Group reissued their outperform rating on shares of Birkenstock (NYSE:BIRK) in a report released on Friday,Benzinga reports. The firm currently has a $70.00 price objective on the stock.

A number of other equities research analysts have also commented on the stock. Piper Sandler began coverage on shares of Birkenstock in a research note on Tuesday, December 10th. They issued an “overweight” rating and a $65.00 price objective on the stock. Evercore ISI reiterated an “outperform” rating and set a $77.00 price target (up from $63.00) on shares of Birkenstock in a report on Monday, August 26th. Hsbc Global Res raised Birkenstock to a “strong-buy” rating in a research note on Tuesday, December 3rd. HSBC raised Birkenstock from a “hold” rating to a “buy” rating and raised their target price for the stock from $58.00 to $60.00 in a research note on Tuesday, December 3rd. Finally, BTIG Research set a $60.00 price target on Birkenstock and gave the company a “buy” rating in a research note on Friday, October 18th. Two equities 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 data from MarketBeat.com, Birkenstock has an average rating of “Moderate Buy” and a consensus target price of $66.13.

Birkenstock Trading Up 2.7 %

Shares of BIRK stock opened at $55.06 on Friday. The stock has a 50-day moving average of $49.31 and a 200-day moving average of $53.03. 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 $10.34 billion, a price-to-earnings ratio of 90.26, a PEG ratio of 1.19 and a beta of 2.22. Birkenstock has a 1-year low of $41.00 and a 1-year high of $64.78.

Hedge Funds Weigh In On Birkenstock

Several institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in shares of Birkenstock by 33.7% in the third quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock worth $44,000 after purchasing an additional 225 shares in the last quarter. MetLife Investment Management LLC grew its stake in 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 buying an additional 236 shares in the last quarter. Quarry LP purchased a new stake in shares of Birkenstock during the third quarter worth $25,000. Amalgamated Bank boosted its holdings in shares of Birkenstock by 51.8% in the third quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock worth $102,000 after acquiring an additional 707 shares during the period. Finally, Venturi Wealth Management LLC grew its position in shares of Birkenstock by 58.8% in the third quarter. Venturi Wealth Management LLC now owns 6,670 shares of the company’s stock valued at $329,000 after purchasing an additional 2,470 shares in the last quarter. 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.