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 note issued to investors on Tuesday, Benzinga reports. They presently have a $70.00 price objective on the stock. Telsey Advisory Group’s price target would indicate a potential upside of 41.64% from the stock’s current price.

Several other research firms also recently weighed in on BIRK. UBS Group raised shares of Birkenstock from a “neutral” rating to a “buy” rating and lifted their price target for the company from $52.00 to $85.00 in a research note on Monday, July 1st. The Goldman Sachs Group cut Birkenstock from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $54.20 to $58.00 in a research report on Wednesday, June 12th. JPMorgan Chase & Co. upped their target price on Birkenstock from $56.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, June 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Birkenstock in a report on Thursday, June 13th. Finally, Citigroup started coverage on Birkenstock in a research report on Monday, July 1st. They set a “buy” rating and a $65.00 price target for the company. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.23.

Birkenstock Stock Up 0.5 %

Shares of NYSE:BIRK traded up $0.25 on Tuesday, hitting $49.42. 170,367 shares of the company traded hands, compared to its average volume of 1,000,100. The stock has a 50 day simple moving average of $54.53 and a 200-day simple moving average of $51.54. Birkenstock has a 52 week low of $35.83 and a 52 week high of $64.78. The company has a quick ratio of 1.49, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. The company has a market cap of $9.28 billion and a PE ratio of 57.43.

Birkenstock (NYSE:BIRK) last released its earnings results on Thursday, August 29th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). The company had revenue of $564.76 million during the quarter, compared to analysts’ expectations of $628.70 million. Birkenstock had a return on equity of 5.79% and a net margin of 6.26%. As a group, research analysts expect that Birkenstock will post 1.37 earnings per share for the current year.

Institutional Trading of Birkenstock

Several hedge funds and other institutional investors have recently modified their holdings of BIRK. GAMMA Investing LLC lifted its stake in shares of Birkenstock by 377.1% in the second quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $36,000 after buying an additional 528 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in Birkenstock in the first quarter valued at $40,000. CWM LLC grew its position in Birkenstock by 358.2% during the 1st quarter. CWM LLC now owns 2,181 shares of the company’s stock worth $103,000 after acquiring an additional 1,705 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Birkenstock in the second quarter valued at $136,000. Finally, MSA Advisors LLC bought a new position in shares of Birkenstock in the second quarter worth about $223,000. 19.93% of the stock is currently owned by hedge funds and other 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.