Birkenstock (NYSE:BIRK) Receives Outperform Rating from Telsey Advisory Group

Key Points

• Telsey Advisory Group has reaffirmed Birkenstock's stock rating as "outperform" with a target price of $70.00, suggesting a potential upside of 55.97% from its current price.
• Birkenstock's recent quarterly earnings report showed an EPS of $0.70, surpassing analysts' expectations of $0.67, alongside a revenue increase of 12.4% from the previous year.
• Institutional investors have shown significant interest in Birkenstock, with Balyasny Asset Management increasing its holdings by 214.3% during Q2.

Birkenstock (NYSE:BIRK - Get Free Report)'s stock had its "outperform" rating reaffirmed by equities researchers at Telsey Advisory Group in a research note issued on Friday,Benzinga reports. They presently have a $70.00 target price on the stock. Telsey Advisory Group's target price would indicate a potential upside of 55.97% from the stock's current price.

BIRK has been the subject of a number of other reports. UBS Group set a $77.00 price objective on Birkenstock and gave the company a "buy" rating in a research report on Tuesday, August 5th. 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 report on Friday, September 19th. The Goldman Sachs Group upgraded Birkenstock from a "neutral" rating to a "buy" rating and set a $60.00 price target for the company in a research report on Thursday, July 24th. Finally, William Blair reiterated an "outperform" rating on shares of Birkenstock in a research report on Tuesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $68.38.

Birkenstock Stock Down 1.0%

Birkenstock stock opened at $44.88 on Friday. The stock has a market capitalization of $8.43 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 1.01 and a beta of 1.31. Birkenstock has a 12 month low of $40.56 and a 12 month high of $62.66. The business has a 50 day simple moving average of $49.40 and a 200-day simple moving average of $49.75. 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 - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.03. The business had revenue of $749.13 million during the quarter, compared to analysts' expectations of $641.18 million. Birkenstock had a return on equity of 11.52% and a net margin of 15.21%.The business's revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 earnings per share. Birkenstock has set its FY 2025 guidance at EPS. On average, analysts anticipate that Birkenstock will post 1.77 EPS for the current fiscal year.

Institutional Trading of Birkenstock

Several large investors have recently added to or reduced their stakes in BIRK. Balyasny Asset Management L.P. grew its holdings in Birkenstock by 214.3% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,991,187 shares of the company's stock valued at $147,107,000 after buying an additional 2,039,623 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in Birkenstock in the 1st quarter valued at $72,108,000. Norges Bank purchased a new stake in Birkenstock in the 2nd quarter valued at $62,097,000. Holocene Advisors LP grew its holdings in Birkenstock by 239.3% in the 2nd quarter. Holocene Advisors LP now owns 1,748,348 shares of the company's stock valued at $85,984,000 after buying an additional 1,233,085 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Birkenstock in the 1st quarter valued at $52,385,000. 19.93% of the stock is currently owned by hedge funds and other 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.

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