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

Birkenstock (NYSE:BIRK)‘s stock had its “outperform” rating reissued by analysts at Telsey Advisory Group in a report released on Tuesday, Benzinga reports. They currently have a $70.00 price objective on the stock. Telsey Advisory Group’s price target would suggest a potential upside of 41.64% from the company’s previous close.

Several other research firms also recently issued reports on BIRK. The Goldman Sachs Group downgraded shares of Birkenstock from a “buy” rating to a “neutral” rating and raised their price target for the company from $54.20 to $58.00 in a research note on Wednesday, June 12th. Citigroup assumed coverage on Birkenstock in a research report on Monday, July 1st. They set a “buy” rating and a $65.00 target price on the stock. BNP Paribas initiated coverage on Birkenstock in a research note on Thursday, June 20th. They issued an “outperform” rating and a $68.00 price objective for the company. Evercore ISI restated 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. Finally, Robert W. Baird boosted their price objective on Birkenstock from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.23.

Birkenstock Stock Up 0.5 %

BIRK traded up $0.25 during trading hours on Tuesday, hitting $49.42. 170,367 shares of the company’s stock were exchanged, compared to its average volume of 1,000,100. The stock’s 50-day moving average is $54.53 and its two-hundred day moving average is $51.54. Birkenstock has a 1-year low of $35.83 and a 1-year high of $64.78. The company has a quick ratio of 1.49, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. The stock has a market cap of $9.28 billion and a price-to-earnings ratio of 57.43.

Birkenstock (NYSE:BIRK) last announced its earnings results on Thursday, August 29th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). Birkenstock had a return on equity of 5.79% and a net margin of 6.26%. The company had revenue of $564.76 million for the quarter, compared to the consensus estimate of $628.70 million. Sell-side analysts predict that Birkenstock will post 1.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Birkenstock by 377.1% during the second quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock valued at $36,000 after purchasing an additional 528 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Birkenstock in the first quarter worth $40,000. CWM LLC increased its position in Birkenstock by 358.2% during the first quarter. CWM LLC now owns 2,181 shares of the company’s stock valued at $103,000 after acquiring an additional 1,705 shares during the last quarter. Acadian Asset Management LLC bought a new position in Birkenstock in the second quarter valued at about $136,000. Finally, Connable Office Inc. bought a new stake in shares of Birkenstock during the 4th quarter valued at about $216,000. 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.