Birkenstock’s (BIRK) Outperform Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reiterated their outperform rating on shares of Birkenstock (NYSE:BIRK) in a report released on Friday morning,Benzinga reports. The brokerage currently has a $70.00 price objective on the stock.

Other research analysts have also issued reports about the stock. Guggenheim upgraded shares of Birkenstock to a “strong-buy” rating in a research note on Wednesday, December 10th. JPMorgan Chase & Co. dropped their price target on Birkenstock from $81.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, September 19th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Birkenstock in a research note on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Birkenstock presently has an average rating of “Buy” and a consensus target price of $68.38.

Birkenstock Stock Performance

Shares of Birkenstock stock opened at $45.51 on Friday. The firm’s fifty day simple moving average is $41.96 and its 200-day simple moving average is $47.09. Birkenstock has a 12 month low of $38.16 and a 12 month high of $62.66. The stock has a market capitalization of $8.55 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 0.87 and a beta of 1.14. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.78 and a quick ratio of 1.29.

Institutional Investors Weigh In On Birkenstock

A number of institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in shares of Birkenstock by 34.5% in the 2nd quarter. GAMMA Investing LLC now owns 908 shares of the company’s stock valued at $45,000 after buying an additional 233 shares during the period. Connable Office Inc. grew its holdings in Birkenstock by 7.8% during the second quarter. Connable Office Inc. now owns 4,767 shares of the company’s stock worth $234,000 after acquiring an additional 344 shares during the period. Illinois Municipal Retirement Fund raised its position in Birkenstock by 1.3% in the third quarter. Illinois Municipal Retirement Fund now owns 35,968 shares of the company’s stock worth $1,628,000 after acquiring an additional 448 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Birkenstock by 30.7% in the third quarter. Smartleaf Asset Management LLC now owns 1,951 shares of the company’s stock valued at $87,000 after acquiring an additional 458 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Birkenstock by 2.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,990 shares of the company’s stock worth $769,000 after purchasing an additional 460 shares in the last quarter. Hedge funds and other 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.