Birkenstock's (BIRK) Outperform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reiterated their outperform rating on shares of Birkenstock (NYSE:BIRK - Free Report) in a research note released on Thursday morning,Benzinga reports. Telsey Advisory Group currently has a $70.00 price objective on the stock.

A number of other research analysts have also recently weighed in on the stock. Piper Sandler assumed coverage on shares of Birkenstock in a report on Tuesday, December 10th. They issued an "overweight" rating and a $65.00 price objective for the company. UBS Group lifted their price objective on shares of Birkenstock from $83.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, December 19th. BMO Capital Markets lifted their price objective on shares of Birkenstock from $60.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday, December 19th. BTIG Research lifted their price objective on shares of Birkenstock from $60.00 to $70.00 and gave the company a "buy" rating in a report on Wednesday, December 18th. Finally, Robert W. Baird lifted their price objective on shares of Birkenstock from $65.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $68.31.

Birkenstock Trading Down 4.1 %

Shares of BIRK traded down $2.20 during trading on Thursday, reaching $51.82. 2,092,537 shares of the company traded hands, compared to its average volume of 1,572,222. Birkenstock has a twelve month low of $41.00 and a twelve month high of $64.78. The stock has a market cap of $9.73 billion, a PE ratio of 47.98, a price-to-earnings-growth ratio of 1.09 and a beta of 1.61. The stock has a 50-day simple moving average of $57.54 and a 200-day simple moving average of $53.25. The company has a quick ratio of 1.20, a current ratio of 2.60 and a debt-to-equity ratio of 0.50.

Birkenstock (NYSE:BIRK - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.03. Birkenstock had a net margin of 10.57% and a return on equity of 8.82%. The business had revenue of $385.88 million during the quarter, compared to analysts' expectations of $355.80 million. On average, analysts anticipate that Birkenstock will post 1.77 earnings per share for the current year.

Institutional Trading of Birkenstock

Several institutional investors have recently modified their holdings of BIRK. Norges Bank purchased a new stake in shares of Birkenstock during the 4th quarter worth approximately $131,786,000. FMR LLC lifted its position in shares of Birkenstock by 61.4% during the 3rd 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. Marshall Wace LLP lifted its position in shares of Birkenstock by 260.5% during the 4th quarter. Marshall Wace LLP now owns 1,100,692 shares of the company's stock worth $62,365,000 after buying an additional 795,382 shares during the last quarter. AGF Management Ltd. purchased a new stake in shares of Birkenstock during the 4th quarter worth approximately $37,153,000. Finally, AXA S.A. purchased a new stake in shares of Birkenstock during the 4th quarter worth approximately $29,050,000. Hedge funds and other institutional investors own 19.93% of the company's stock.

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.