Birkenstock (NYSE:BIRK) Given Outperform Rating at Telsey Advisory Group

Birkenstock (NYSE:BIRK)‘s stock had its “outperform” rating reissued by investment analysts at Telsey Advisory Group in a research report issued on Thursday,Benzinga reports. They presently have a $70.00 target price on the stock. Telsey Advisory Group’s target price would suggest a potential upside of 24.73% from the company’s previous close.

BIRK has been the subject of a number of other research reports. UBS Group raised their price objective on Birkenstock from $83.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. BTIG Research lifted their price target on shares of Birkenstock from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Robert W. Baird boosted their price target on shares of Birkenstock from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Hsbc Global Res raised shares of Birkenstock to a “strong-buy” rating in a research note on Tuesday, December 3rd. Finally, HSBC raised shares of Birkenstock from a “hold” rating to a “buy” rating and boosted their target price for the stock from $58.00 to $60.00 in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $68.31.

Birkenstock Stock Performance

Shares of BIRK opened at $56.12 on Thursday. Birkenstock has a one year low of $41.00 and a one year high of $64.78. The company has a market cap of $10.54 billion, a PE ratio of 51.96, a P/E/G ratio of 1.13 and a beta of 1.61. The stock has a 50-day moving average of $57.43 and a 200-day moving average of $53.35. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.60 and a quick ratio of 1.20.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BIRK. HighTower Advisors LLC boosted its holdings in shares of Birkenstock by 370.8% in the 3rd quarter. HighTower Advisors LLC now owns 26,165 shares of the company’s stock worth $1,289,000 after purchasing an additional 20,607 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Birkenstock in the 3rd quarter worth approximately $1,323,000. Renaissance Capital LLC boosted its stake in Birkenstock by 94.0% in the fourth quarter. Renaissance Capital LLC now owns 82,190 shares of the company’s stock worth $4,657,000 after buying an additional 39,831 shares in the last quarter. FMR LLC boosted its stake 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 buying an additional 809,784 shares in the last quarter. Finally, State Street Corp grew its position in Birkenstock by 49.4% during the third quarter. State Street Corp now owns 402,899 shares of the company’s stock valued at $19,859,000 after acquiring an additional 133,212 shares during the last quarter. 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.