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

Birkenstock (NYSE:BIRK)‘s stock had its “outperform” rating reissued by investment analysts at Telsey Advisory Group in a research note issued to investors on Thursday,Benzinga reports. They presently have a $70.00 price objective on the stock. Telsey Advisory Group’s price objective suggests a potential upside of 22.46% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Evercore ISI reiterated an “outperform” rating and issued a $77.00 price target (up from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. BTIG Research increased their target price on Birkenstock from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price target on Birkenstock from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday. Robert W. Baird increased their price objective on shares of Birkenstock from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Piper Sandler began coverage on shares of Birkenstock in a research report on Tuesday, December 10th. They issued an “overweight” rating and a $65.00 target price for the company. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.94.

Birkenstock Stock Performance

NYSE BIRK opened at $57.16 on Thursday. Birkenstock has a 12-month low of $41.00 and a 12-month high of $64.78. The firm has a 50-day moving average price of $49.81 and a two-hundred day moving average price of $53.05. The company has a market capitalization of $10.74 billion, a P/E ratio of 93.70, a P/E/G ratio of 1.19 and a beta of 2.22. The company has a quick ratio of 1.49, a current ratio of 2.91 and a debt-to-equity ratio of 0.55.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Quarry LP acquired a new stake in shares of Birkenstock during the 3rd quarter valued at $25,000. MetLife Investment Management LLC raised its position in Birkenstock by 52.2% in the third quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock valued at $34,000 after purchasing an additional 236 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Birkenstock by 33.7% during the third quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock valued at $44,000 after purchasing an additional 225 shares in the last quarter. Amalgamated Bank grew its holdings in shares of Birkenstock by 51.8% during the third quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock worth $102,000 after purchasing an additional 707 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Birkenstock in the second quarter valued at approximately $136,000. 19.93% of the stock is currently owned by institutional investors and hedge funds.

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.