Telsey Advisory Group Reiterates Outperform Rating for Birkenstock (NYSE:BIRK)

Birkenstock (NYSE:BIRK)‘s stock had its “outperform” rating reissued by equities researchers at Telsey Advisory Group in a report issued on Thursday, Benzinga reports. They currently have a $56.00 price target on the stock. Telsey Advisory Group’s price objective suggests a potential upside of 20.85% from the company’s current price.

Several other brokerages have also recently commented on BIRK. UBS Group boosted their price target on Birkenstock from $51.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Piper Sandler increased their target price on shares of Birkenstock from $56.50 to $61.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. BMO Capital Markets boosted their price target on shares of Birkenstock from $50.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Finally, Robert W. Baird upped their price objective on shares of Birkenstock from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Birkenstock has an average rating of “Moderate Buy” and a consensus price target of $49.15.

Birkenstock Stock Down 2.6 %

NYSE:BIRK opened at $46.34 on Thursday. Birkenstock has a 52 week low of $35.83 and a 52 week high of $55.00. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.28 and a current ratio of 2.85. The stock’s 50-day moving average price is $45.25 and its 200-day moving average price is $46.34.

Birkenstock (NYSE:BIRK) last announced its earnings results on Thursday, February 29th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). The firm had revenue of $303.00 million during the quarter, compared to analyst estimates of $289.09 million. Birkenstock’s quarterly revenue was up 21.9% compared to the same quarter last year. Sell-side analysts predict that Birkenstock will post 1.29 EPS for the current year.

Institutional Investors Weigh In On Birkenstock

Institutional investors have recently modified their holdings of the company. New York State Common Retirement Fund acquired a new position in shares of Birkenstock during the 4th quarter worth about $1,067,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Birkenstock during the 4th quarter worth approximately $1,886,000. Federated Hermes Inc. acquired a new position in shares of Birkenstock in the 4th quarter valued at $27,152,000. Teacher Retirement System of Texas acquired a new position in shares of Birkenstock in the 4th quarter valued at $1,949,000. Finally, Amalgamated Bank purchased a new position in shares of Birkenstock in the 4th quarter valued at $233,000. 19.93% of the stock is owned by hedge funds and other 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.