Birkenstock (NYSE:BIRK) Stock Rating Reaffirmed by Telsey Advisory Group

Birkenstock (NYSE:BIRK)‘s stock had its “outperform” rating reissued by stock analysts at Telsey Advisory Group in a research note issued on Thursday, Benzinga reports. They currently have a $56.00 target price on the stock. Telsey Advisory Group’s price objective would suggest a potential upside of 20.85% from the stock’s current price.

A number of other brokerages have also recently commented on BIRK. Piper Sandler increased their price target on shares of Birkenstock from $56.50 to $61.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. BMO Capital Markets boosted their price target on Birkenstock from $50.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. UBS Group lifted their target price on Birkenstock from $51.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Finally, Robert W. Baird increased their price target on Birkenstock from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.15.

Birkenstock Stock Performance

Shares of BIRK opened at $46.34 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.28 and a current ratio of 2.85. Birkenstock has a 12 month low of $35.83 and a 12 month high of $55.00. The firm has a fifty day simple moving average of $45.25 and a 200 day simple moving average of $46.34.

Birkenstock (NYSE:BIRK) last released its earnings results on Thursday, February 29th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The company had revenue of $303.00 million during the quarter, compared to analyst estimates of $289.09 million. The business’s quarterly revenue was up 21.9% on a year-over-year basis. As a group, equities analysts expect that Birkenstock will post 1.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Birkenstock

Several hedge funds have recently bought and sold shares of BIRK. Banque Cantonale Vaudoise bought a new stake in Birkenstock during the first quarter worth $40,000. Tower Research Capital LLC TRC bought a new position in Birkenstock in the fourth quarter valued at about $77,000. Venturi Wealth Management LLC bought a new position in Birkenstock in the 4th quarter valued at approximately $83,000. CWM LLC boosted its position in Birkenstock by 358.2% in the first quarter. CWM LLC now owns 2,181 shares of the company’s stock valued at $103,000 after buying an additional 1,705 shares in the last quarter. Finally, Connable Office Inc. bought a new stake in shares of Birkenstock during the fourth quarter worth $216,000. 19.93% of the stock is owned by institutional investors.

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.