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

Telsey Advisory Group reissued their outperform rating on shares of Birkenstock (NYSE:BIRK) in a research note released on Thursday,Benzinga reports. The brokerage currently has a $70.00 price target on the stock.

A number of other research firms have also commented on BIRK. Stifel Nicolaus raised their price objective on shares of Birkenstock from $62.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. William Blair reaffirmed an “outperform” rating on shares of Birkenstock in a research note on Tuesday, June 3rd. UBS Group set a $77.00 price objective on shares of Birkenstock and gave the stock a “buy” rating in a research note on Tuesday, August 5th. BTIG Research upped their price objective on shares of Birkenstock from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Finally, Evercore ISI upped their price objective on shares of Birkenstock from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, May 19th. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $68.58.

Birkenstock Price Performance

NYSE BIRK opened at $48.41 on Thursday. The stock has a market capitalization of $9.09 billion, a P/E ratio of 34.09, a P/E/G ratio of 1.20 and a beta of 1.31. Birkenstock has a 1 year low of $40.56 and a 1 year high of $64.78. The business’s fifty day moving average is $50.35 and its two-hundred day moving average is $50.69. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.34 and a current ratio of 3.06.

Birkenstock (NYSE:BIRK) last posted its quarterly earnings results on Thursday, May 15th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. The company had revenue of $623.54 million for the quarter, compared to analysts’ expectations of $567.84 million. Birkenstock had a return on equity of 10.22% and a net margin of 12.86%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 earnings per share. On average, research analysts forecast that Birkenstock will post 1.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Birkenstock

Institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. increased its holdings in shares of Birkenstock by 37.6% during the 1st quarter. Principal Financial Group Inc. now owns 746,716 shares of the company’s stock valued at $34,237,000 after acquiring an additional 203,918 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Birkenstock by 23.3% during the first quarter. Bank of New York Mellon Corp now owns 160,030 shares of the company’s stock worth $7,337,000 after purchasing an additional 30,222 shares during the period. AGF Management Ltd. boosted its position in Birkenstock by 79.9% during the first quarter. AGF Management Ltd. now owns 1,179,688 shares of the company’s stock worth $54,089,000 after purchasing an additional 523,961 shares during the period. TD Asset Management Inc grew its holdings in Birkenstock by 30.8% during the first quarter. TD Asset Management Inc now owns 412,572 shares of the company’s stock valued at $18,916,000 after purchasing an additional 97,200 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Birkenstock during the fourth quarter valued at approximately $283,000. 19.93% of the stock is currently owned by institutional investors.

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.