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

Key Points

• Telsey Advisory Group has reaffirmed an "outperform" rating for Birkenstock (NYSE:BIRK) and set a price target of $70.00, indicating a potential upside of 39.36% from its current price.
• Birkenstock's recent earnings report showed $0.58 earnings per share, exceeding expectations of $0.57, with a revenue of $623.54 million, growing 19.3% year over year.
• The stock has a consensus rating of "Buy" from thirteen analysts, with an average target price of $68.58, reflecting strong investor confidence in the company's future performance.

Birkenstock (NYSE:BIRK - Get Free Report)'s stock had its "outperform" rating reaffirmed by analysts at Telsey Advisory Group in a research note issued to investors on Thursday,Benzinga reports. They presently have a $70.00 price objective on the stock. Telsey Advisory Group's price target indicates a potential upside of 39.98% from the company's previous close.

A number of other analysts also recently weighed in on the stock. Bank of America upped their target price on shares of Birkenstock from $70.00 to $73.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. William Blair reissued an "outperform" rating on shares of Birkenstock in a research report on Tuesday, June 3rd. UBS Group set a $77.00 target price on Birkenstock and gave the stock a "buy" rating in a research report on Tuesday, August 5th. BMO Capital Markets boosted their price target on Birkenstock from $70.00 to $75.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Finally, Stifel Nicolaus boosted their target price on shares of Birkenstock from $62.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, May 16th. One analyst has rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $68.58.

Birkenstock Stock Performance

Shares of BIRK traded down $0.5020 during mid-day trading on Thursday, hitting $50.0080. The stock had a trading volume of 562,608 shares, compared to its average volume of 1,940,986. The firm has a market cap of $9.39 billion, a P/E ratio of 27.73, a PEG ratio of 1.15 and a beta of 1.31. The business has a fifty day moving average price of $50.14 and a 200-day moving average price of $50.40. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.06 and a quick ratio of 1.34. Birkenstock has a 52 week low of $40.56 and a 52 week high of $64.78.

Birkenstock (NYSE:BIRK - Get Free Report) 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 11.60%. 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, equities research analysts expect that Birkenstock will post 1.77 EPS for the current year.

Institutional Trading of Birkenstock

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in Birkenstock by 34.5% in the second quarter. GAMMA Investing LLC now owns 908 shares of the company's stock valued at $45,000 after purchasing an additional 233 shares during the last quarter. Signaturefd LLC lifted its stake in Birkenstock by 66.5% in the first quarter. Signaturefd LLC now owns 841 shares of the company's stock valued at $39,000 after buying an additional 336 shares during the last quarter. Connable Office Inc. boosted its holdings in shares of Birkenstock by 7.8% in the second quarter. Connable Office Inc. now owns 4,767 shares of the company's stock valued at $234,000 after acquiring an additional 344 shares during the period. Legal & General Group Plc boosted its holdings in shares of Birkenstock by 12.3% in the fourth quarter. Legal & General Group Plc now owns 3,158 shares of the company's stock valued at $179,000 after acquiring an additional 347 shares during the period. Finally, Malaga Cove Capital LLC boosted its holdings in shares of Birkenstock by 3.5% in the fourth quarter. Malaga Cove Capital LLC now owns 12,108 shares of the company's stock valued at $686,000 after acquiring an additional 407 shares during the period. 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.