Telsey Advisory Group Reaffirms “Outperform” Rating for Birkenstock (NYSE:BIRK)

Birkenstock (NYSE:BIRK)‘s stock had its “outperform” rating reiterated by equities researchers at Telsey Advisory Group in a research note issued on Friday,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 53.83% from the stock’s current price.

A number of other analysts have also recently issued reports on BIRK. Guggenheim raised Birkenstock to a “strong-buy” rating in a research report on Wednesday. JPMorgan Chase & Co. reduced their price target on Birkenstock from $81.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, September 19th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Birkenstock in a report on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $68.38.

Birkenstock Trading Up 1.1%

Shares of NYSE:BIRK opened at $45.51 on Friday. The firm has a fifty day moving average of $41.96 and a two-hundred day moving average of $47.14. The company has a quick ratio of 1.29, a current ratio of 2.78 and a debt-to-equity ratio of 0.50. Birkenstock has a 12-month low of $38.16 and a 12-month high of $62.66. The firm has a market capitalization of $8.55 billion, a P/E ratio of 25.28, a price-to-earnings-growth ratio of 0.87 and a beta of 1.14.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BIRK. GAMMA Investing LLC boosted its position in Birkenstock by 34.5% during the second quarter. GAMMA Investing LLC now owns 908 shares of the company’s stock worth $45,000 after purchasing an additional 233 shares during the period. Connable Office Inc. lifted its stake in shares of Birkenstock by 7.8% in the second quarter. Connable Office Inc. now owns 4,767 shares of the company’s stock worth $234,000 after buying an additional 344 shares during the last quarter. Illinois Municipal Retirement Fund lifted its stake in shares of Birkenstock by 1.3% in the third quarter. Illinois Municipal Retirement Fund now owns 35,968 shares of the company’s stock worth $1,628,000 after buying an additional 448 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Birkenstock by 30.7% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,951 shares of the company’s stock worth $87,000 after buying an additional 458 shares during the period. Finally, Public Employees Retirement System of Ohio grew its stake in Birkenstock by 2.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,990 shares of the company’s stock valued at $769,000 after buying an additional 460 shares during the last quarter. 19.93% of the stock is owned by institutional investors.

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.