Birkenstock’s (BIRK) “Outperform” Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group restated their outperform rating on shares of Birkenstock (NYSE:BIRK) in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has a $70.00 price objective on the stock.

Several other analysts have also recently weighed in on the stock. The Goldman Sachs Group cut shares of Birkenstock from a buy rating to a neutral rating and raised their price objective for the company from $54.20 to $58.00 in a research report on Wednesday, June 12th. UBS Group upgraded shares of Birkenstock from a neutral rating to a buy rating and raised their price objective for the company from $52.00 to $85.00 in a research report on Monday, July 1st. Deutsche Bank Aktiengesellschaft restated a buy rating and set a $70.00 price objective on shares of Birkenstock in a research report on Thursday, June 13th. BMO Capital Markets restated an outperform rating and set a $60.00 price objective on shares of Birkenstock in a research report on Friday, August 30th. Finally, Bank of America upgraded shares of Birkenstock from a neutral rating to a buy rating and raised their price objective for the company from $62.00 to $65.00 in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $62.23.

Birkenstock Stock Performance

NYSE BIRK opened at $49.83 on Tuesday. Birkenstock has a 1 year low of $35.83 and a 1 year high of $64.78. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 1.49. The stock has a market capitalization of $9.36 billion and a PE ratio of 56.94. The company’s 50 day simple moving average is $54.26 and its two-hundred day simple moving average is $51.53.

Birkenstock (NYSE:BIRK) last posted its earnings results on Thursday, August 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.07). Birkenstock had a return on equity of 5.79% and a net margin of 6.26%. The firm had revenue of $564.76 million during the quarter, compared to analysts’ expectations of $628.70 million. Analysts predict that Birkenstock will post 1.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Birkenstock

A number of large investors have recently added to or reduced their stakes in BIRK. Connable Office Inc. bought a new stake in Birkenstock in the 4th quarter worth $216,000. Weiss Asset Management LP bought a new stake in Birkenstock in the 4th quarter worth $2,924,000. Treasurer of the State of North Carolina bought a new stake in Birkenstock in the 4th quarter worth $643,000. Capstone Investment Advisors LLC bought a new stake in Birkenstock in the 4th quarter worth $3,775,000. Finally, Capital International Ltd. CA bought a new stake in Birkenstock in the 4th quarter worth $1,909,000. 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.