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

Telsey Advisory Group reissued their outperform rating on shares of Birkenstock (NYSE:BIRK - Free Report) in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a $70.00 target price on the stock.

BIRK has been the subject of several other reports. Piper Sandler started coverage on Birkenstock in a research note on Tuesday, December 10th. They set an "overweight" rating and a $65.00 target price for the company. Robert W. Baird upped their price objective on Birkenstock from $65.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, December 19th. BTIG Research boosted their target price on Birkenstock from $60.00 to $70.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Birkenstock from $65.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Finally, HSBC upgraded Birkenstock from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $58.00 to $60.00 in a research report on Tuesday, December 3rd. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $68.31.

Birkenstock Price Performance

BIRK traded down $0.57 on Wednesday, hitting $58.41. 1,535,764 shares of the stock were exchanged, compared to its average volume of 1,294,090. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.60 and a quick ratio of 1.20. Birkenstock has a 12 month low of $41.00 and a 12 month high of $64.78. The firm has a market capitalization of $10.97 billion, a price-to-earnings ratio of 54.08, a PEG ratio of 1.19 and a beta of 1.61. The business has a 50-day moving average of $54.45 and a two-hundred day moving average of $53.04.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BIRK. Millennium Management LLC bought a new stake in shares of Birkenstock during the 2nd quarter worth $61,972,000. FMR LLC increased its holdings in Birkenstock by 61.4% during 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 during the last quarter. Ghisallo Capital Management LLC raised its position in 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 during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Birkenstock by 30.4% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,000,000 shares of the company's stock valued at $163,230,000 after acquiring an additional 700,000 shares during the period. Finally, D. E. Shaw & Co. Inc. purchased a new stake in shares of Birkenstock during the 2nd quarter worth approximately $25,098,000. 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.