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

Telsey Advisory Group reaffirmed their outperform rating on shares of Birkenstock (NYSE:BIRK) in a report released on Friday,Benzinga reports. The firm currently has a $70.00 price target on the stock.

Several other brokerages have also issued reports on BIRK. JPMorgan Chase & Co. dropped their price target on Birkenstock from $81.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, September 19th. UBS Group set a $77.00 price objective on Birkenstock and gave the company a “buy” rating in a report on Tuesday, August 5th. William Blair reaffirmed an “outperform” rating on shares of Birkenstock in a research note on Tuesday, June 3rd. Finally, The Goldman Sachs Group upgraded shares of Birkenstock from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $68.38.

Birkenstock Price Performance

BIRK stock opened at $44.91 on Friday. The firm has a 50 day simple moving average of $49.30 and a two-hundred day simple moving average of $49.81. The stock has a market cap of $8.44 billion, a PE ratio of 24.95, a P/E/G ratio of 1.02 and a beta of 1.31. Birkenstock has a one year low of $40.56 and a one year high of $62.66. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.78 and a quick ratio of 1.29.

Birkenstock (NYSE:BIRK) last posted its quarterly earnings data on Thursday, August 14th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.03. Birkenstock had a net margin of 15.21% and a return on equity of 11.52%. The firm had revenue of $749.13 million for the quarter, compared to analysts’ expectations of $641.18 million. During the same quarter last year, the company posted $0.40 EPS. The business’s quarterly revenue was up 12.4% on a year-over-year basis. Birkenstock has set its FY 2025 guidance at EPS. On average, analysts predict that Birkenstock will post 1.77 EPS for the current fiscal year.

Institutional Trading of Birkenstock

Several hedge funds and other institutional investors have recently bought and sold shares of BIRK. PNC Financial Services Group Inc. boosted its stake in shares of Birkenstock by 2,514.6% during the first quarter. PNC Financial Services Group Inc. now owns 8,785 shares of the company’s stock valued at $403,000 after purchasing an additional 8,449 shares during the period. Bank of New York Mellon Corp raised its holdings in Birkenstock by 23.3% during the 1st quarter. Bank of New York Mellon Corp now owns 160,030 shares of the company’s stock valued at $7,337,000 after buying an additional 30,222 shares during the last quarter. Principal Financial Group Inc. boosted its position in Birkenstock by 37.6% during the 1st quarter. Principal Financial Group Inc. now owns 746,716 shares of the company’s stock valued at $34,237,000 after buying an additional 203,918 shares during the period. AGF Management Ltd. grew its holdings in Birkenstock by 79.9% in the 1st quarter. AGF Management Ltd. now owns 1,179,688 shares of the company’s stock worth $54,089,000 after acquiring an additional 523,961 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Birkenstock in the first quarter valued at about $523,000. 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.