Birkenstock’s (BIRK) Outperform Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reaffirmed their outperform rating on shares of Birkenstock (NYSE:BIRK) in a research report released on Thursday,Benzinga reports. They currently have a $70.00 price target on the stock.

Several other analysts have also issued reports on BIRK. Hsbc Global Res raised Birkenstock to a “strong-buy” rating in a research note on Tuesday, December 3rd. HSBC raised Birkenstock from a “hold” rating to a “buy” rating and upped their target price for the stock from $58.00 to $60.00 in a research note on Tuesday, December 3rd. BMO Capital Markets upped their target price on Birkenstock from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. UBS Group upped their target price on Birkenstock from $83.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, BTIG Research increased their price objective on Birkenstock from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.31.

Birkenstock Stock Down 4.1 %

Shares of NYSE BIRK opened at $51.82 on Thursday. Birkenstock has a 12 month low of $41.00 and a 12 month high of $64.78. The company has a current ratio of 2.60, a quick ratio of 1.20 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $9.73 billion, a price-to-earnings ratio of 41.79, a PEG ratio of 1.07 and a beta of 1.61. The business has a 50-day moving average of $57.54 and a 200-day moving average of $53.23.

Birkenstock (NYSE:BIRK) last issued its earnings results on Thursday, February 20th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03. The business had revenue of $385.88 million during the quarter, compared to analyst estimates of $355.80 million. Birkenstock had a return on equity of 9.61% and a net margin of 11.73%. Sell-side analysts expect that Birkenstock will post 1.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Birkenstock

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. raised its holdings in shares of Birkenstock by 5.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,124,254 shares of the company’s stock valued at $233,681,000 after acquiring an additional 194,622 shares in the last quarter. Bamco Inc. NY raised its holdings in shares of Birkenstock by 8.3% during the fourth quarter. Bamco Inc. NY now owns 3,359,351 shares of the company’s stock valued at $190,341,000 after acquiring an additional 256,844 shares in the last quarter. Norges Bank bought a new position in Birkenstock in the fourth quarter worth $131,786,000. FMR LLC raised its holdings in Birkenstock by 61.4% in the third quarter. FMR LLC now owns 2,128,689 shares of the company’s stock worth $104,923,000 after purchasing an additional 809,784 shares in the last quarter. Finally, Capital World Investors raised its holdings in Birkenstock by 1.1% in the fourth quarter. Capital World Investors now owns 1,490,366 shares of the company’s stock worth $84,444,000 after purchasing an additional 16,466 shares in the last quarter. 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.