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

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

Other equities analysts also recently issued reports about the stock. Bank of America upgraded shares of Birkenstock from a neutral rating to a buy rating and increased their price objective for the stock from $62.00 to $65.00 in a research note on Thursday, July 25th. Stifel Nicolaus raised their price target on Birkenstock from $63.00 to $70.00 and gave the company a buy rating in a research note on Friday, August 23rd. UBS Group upgraded Birkenstock from a neutral rating to a buy rating and upped their price objective for the stock from $52.00 to $85.00 in a research note on Monday, July 1st. Evercore ISI reissued an outperform rating and issued a $77.00 target price (up from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. Finally, Robert W. Baird upped their target price on shares of Birkenstock from $58.00 to $65.00 and gave the company an outperform rating in a report on Friday, May 31st. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Birkenstock presently has an average rating of Moderate Buy and an average target price of $62.23.

Birkenstock Stock Performance

Shares of Birkenstock stock opened at $49.25 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. The firm has a market cap of $9.25 billion and a price-to-earnings ratio of 56.94. The stock’s 50-day moving average is $54.16 and its 200-day moving average is $51.54. Birkenstock has a one year low of $35.83 and a one year high of $64.78.

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

Hedge Funds Weigh In On Birkenstock

Hedge funds have recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Birkenstock during the fourth quarter worth about $458,539,000. Bamco Inc. NY lifted its position in shares of Birkenstock by 1.4% during the 1st quarter. Bamco Inc. NY now owns 2,974,458 shares of the company’s stock worth $140,543,000 after buying an additional 40,457 shares during the last quarter. Capital World Investors boosted its stake in Birkenstock by 1.0% in the first quarter. Capital World Investors now owns 1,469,369 shares of the company’s stock valued at $69,428,000 after buying an additional 14,089 shares in the last quarter. Millennium Management LLC acquired a new position in Birkenstock during the second quarter worth about $61,972,000. Finally, Federated Hermes Inc. lifted its holdings in shares of Birkenstock by 42.0% in the second quarter. Federated Hermes Inc. now owns 1,071,235 shares of the company’s stock worth $58,286,000 after acquiring an additional 316,935 shares during the last quarter. Institutional investors own 19.93% of the company’s stock.

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.