Birkenstock (NYSE:BIRK) Earns Outperform Rating from Telsey Advisory Group

Birkenstock (NYSE:BIRK)‘s stock had its “outperform” rating restated by equities researchers at Telsey Advisory Group in a note issued to investors on Wednesday,Benzinga reports. They presently have a $70.00 price objective on the stock. Telsey Advisory Group’s price objective would indicate a potential upside of 19.32% from the stock’s current price.

BIRK has been the subject of several other research reports. HSBC upgraded Birkenstock from a “hold” rating to a “buy” rating and lifted their price objective for the company from $58.00 to $60.00 in a research report on Tuesday, December 3rd. Hsbc Global Res raised Birkenstock to a “strong-buy” rating in a research note on Tuesday, December 3rd. BMO Capital Markets boosted their price objective on Birkenstock from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Robert W. Baird boosted their price objective on Birkenstock from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, BTIG Research boosted their price objective on Birkenstock from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Two equities research 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 company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.31.

Birkenstock Price Performance

Birkenstock stock opened at $58.67 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.60 and a quick ratio of 1.20. The company has a market capitalization of $11.02 billion, a PE ratio of 54.32, a price-to-earnings-growth ratio of 1.17 and a beta of 1.61. Birkenstock has a one year low of $41.00 and a one year high of $64.78. The business has a 50 day simple moving average of $55.00 and a 200 day simple moving average of $53.11.

Institutional Investors Weigh In On Birkenstock

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIRK. Millennium Management LLC bought a new stake in Birkenstock in the second quarter valued at about $61,972,000. FMR LLC increased its holdings in shares of 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 acquiring an additional 809,784 shares in the last quarter. Ghisallo Capital Management LLC increased its holdings in shares of Birkenstock by 800.0% in the second quarter. Ghisallo Capital Management LLC now owns 900,000 shares of the company’s stock worth $48,969,000 after acquiring an additional 800,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Birkenstock by 30.4% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,000,000 shares of the company’s stock worth $163,230,000 after acquiring an additional 700,000 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. bought a new stake in shares of Birkenstock in the second quarter worth about $25,098,000. Institutional investors own 19.93% of the company’s stock.

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.