Telsey Advisory Group Reiterates Outperform Rating for Birkenstock (NYSE:BIRK)

Key Points

• The Telsey Advisory Group reiterated its "outperform" rating for Birkenstock, setting a target price of $70.00, which indicates an upside potential of 39.18% from the current stock price.
• Birkenstock recently reported a quarterly earnings per share of $0.58, which surpassed analysts' estimates, alongside a revenue increase of 19.3% year-over-year.
• Thirteen research analysts currently rate the stock as a "buy," leading to a consensus rating of "Buy" with a consensus price target of $68.50.

Birkenstock (NYSE:BIRK - Get Free Report)'s stock had its "outperform" rating reiterated by investment analysts at Telsey Advisory Group in a report issued on Tuesday,Benzinga reports. They currently have a $70.00 target price on the stock. Telsey Advisory Group's target price indicates a potential upside of 39.18% from the stock's current price.

Several other analysts have also recently commented on the company. Bank of America boosted their price target on Birkenstock from $70.00 to $73.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. The Goldman Sachs Group raised shares of Birkenstock from a "neutral" rating to a "buy" rating and set a $60.00 target price for the company in a report on Thursday, July 24th. Piper Sandler reduced their target price on shares of Birkenstock from $70.00 to $60.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. BMO Capital Markets boosted their price target on shares of Birkenstock from $70.00 to $75.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Finally, Stifel Nicolaus upped their price objective on shares of Birkenstock from $62.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $68.50.

Birkenstock Stock Up 2.4%

Shares of NYSE BIRK opened at $50.30 on Tuesday. The firm has a market cap of $9.45 billion, a price-to-earnings ratio of 35.42, a price-to-earnings-growth ratio of 1.09 and a beta of 1.31. The company's 50-day simple moving average is $51.25 and its 200-day simple moving average is $51.14. The company has a quick ratio of 1.34, a current ratio of 3.06 and a debt-to-equity ratio of 0.47. Birkenstock has a 52-week low of $40.56 and a 52-week high of $64.78.

Birkenstock (NYSE:BIRK - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.01. Birkenstock had a net margin of 12.86% and a return on equity of 10.22%. The firm had revenue of $623.54 million for the quarter, compared to analyst estimates of $567.84 million. During the same period last year, the company posted $0.38 EPS. Birkenstock's quarterly revenue was up 19.3% compared to the same quarter last year. Equities analysts predict that Birkenstock will post 1.77 EPS for the current fiscal year.

Institutional Trading of Birkenstock

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Birkenstock by 34.5% during the 2nd quarter. GAMMA Investing LLC now owns 908 shares of the company's stock worth $45,000 after purchasing an additional 233 shares during the period. Signaturefd LLC lifted its stake in Birkenstock by 66.5% during the first quarter. Signaturefd LLC now owns 841 shares of the company's stock worth $39,000 after purchasing an additional 336 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Birkenstock by 12.3% during the fourth quarter. Legal & General Group Plc now owns 3,158 shares of the company's stock worth $179,000 after buying an additional 347 shares during the period. Malaga Cove Capital LLC boosted its position in shares of Birkenstock by 3.5% during the fourth quarter. Malaga Cove Capital LLC now owns 12,108 shares of the company's stock worth $686,000 after buying an additional 407 shares during the period. Finally, NewEdge Advisors LLC grew its stake in shares of Birkenstock by 61.0% in the first quarter. NewEdge Advisors LLC now owns 1,288 shares of the company's stock valued at $59,000 after buying an additional 488 shares in the last quarter. 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.

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