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

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

A number of other research firms have also recently commented on BIRK. BMO Capital Markets reiterated an "outperform" rating and set a $60.00 target price on shares of Birkenstock in a research report on Friday, August 30th. Piper Sandler assumed coverage on Birkenstock in a research report on Tuesday, December 10th. They set an "overweight" rating and a $65.00 price target on the stock. HSBC upgraded Birkenstock from a "hold" rating to a "buy" rating and boosted their price objective for the company from $58.00 to $60.00 in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Birkenstock from $65.00 to $66.00 and gave the company a "buy" rating in a report on Thursday. Finally, Hsbc Global Res upgraded shares of Birkenstock to a "strong-buy" rating in a research note on Tuesday, December 3rd. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $68.31.

Birkenstock Stock Up 0.8 %

BIRK stock traded up $0.43 during trading on Thursday, hitting $57.59. 2,624,268 shares of the company's stock were exchanged, compared to its average volume of 1,060,974. The business has a 50-day moving average price of $49.97 and a two-hundred day moving average price of $53.08. The company has a current ratio of 2.91, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $10.82 billion, a price-to-earnings ratio of 94.41, a PEG ratio of 1.19 and a beta of 2.22. Birkenstock has a 52-week low of $41.00 and a 52-week high of $64.78.

Institutional Trading of Birkenstock

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BIRK. Geode Capital Management LLC raised its position in shares of Birkenstock by 50.5% in the 3rd quarter. Geode Capital Management LLC now owns 188,714 shares of the company's stock worth $9,302,000 after buying an additional 63,289 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Birkenstock in the 3rd quarter valued at about $1,536,000. Y Intercept Hong Kong Ltd grew its holdings in shares of Birkenstock by 313.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 20,028 shares of the company's stock worth $987,000 after purchasing an additional 15,189 shares during the period. State Street Corp increased its position in Birkenstock by 49.4% during the 3rd quarter. State Street Corp now owns 402,899 shares of the company's stock worth $19,859,000 after purchasing an additional 133,212 shares in the last quarter. Finally, Stifel Financial Corp purchased a new position in Birkenstock in the third quarter valued at approximately $1,315,000. 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.