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

Birkenstock (NYSE:BIRK)‘s stock had its “outperform” rating reissued by stock analysts at Telsey Advisory Group in a research note issued on Friday,Benzinga reports. They presently have a $70.00 target price on the stock. Telsey Advisory Group’s target price would indicate a potential upside of 30.62% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus upped their price target on Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Evercore ISI reiterated an “outperform” rating and set a $77.00 target price (up previously from $63.00) on shares of Birkenstock in a research report on Monday, August 26th. Piper Sandler began coverage on shares of Birkenstock in a research report on Tuesday. They issued an “overweight” rating and a $65.00 price target on the stock. UBS Group cut their price objective on shares of Birkenstock from $85.00 to $83.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Hsbc Global Res raised shares of Birkenstock to a “strong-buy” rating in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Birkenstock has a consensus rating of “Moderate Buy” and an average price target of $66.13.

Birkenstock Trading Down 1.0 %

Shares of BIRK stock opened at $53.59 on Friday. Birkenstock has a 12-month low of $41.00 and a 12-month 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 company has a 50 day moving average of $49.19 and a 200-day moving average of $52.93. The firm has a market cap of $10.07 billion, a P/E ratio of 87.85, a PEG ratio of 1.19 and a beta of 2.22.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its position in shares of Birkenstock by 19.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 62,776 shares of the company’s stock worth $3,416,000 after purchasing an additional 10,157 shares during the period. Principal Financial Group Inc. purchased a new stake in Birkenstock in the second quarter worth about $4,323,000. TD Asset Management Inc boosted its position in Birkenstock by 22.6% during the 2nd quarter. TD Asset Management Inc now owns 244,372 shares of the company’s stock valued at $13,296,000 after acquiring an additional 45,000 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of Birkenstock during the 2nd quarter worth approximately $18,755,000. Finally, Acadian Asset Management LLC bought a new position in shares of Birkenstock in the 2nd quarter worth approximately $136,000. 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.