Birkenstock (NYSE:BIRK) Raised to “Strong-Buy” at Guggenheim

Birkenstock (NYSE:BIRK) was upgraded by research analysts at Guggenheim to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

A number of other analysts have also recently commented on BIRK. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Birkenstock in a report on Monday. Telsey Advisory Group restated an “outperform” rating and issued a $70.00 price objective on shares of Birkenstock in a research note on Friday, September 26th. Finally, JPMorgan Chase & Co. lowered their target price on Birkenstock from $81.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Birkenstock presently has a consensus rating of “Buy” and an average target price of $68.38.

Birkenstock Price Performance

NYSE BIRK opened at $44.67 on Wednesday. The company has a 50-day moving average price of $42.00 and a 200-day moving average price of $47.26. Birkenstock has a 52 week low of $38.16 and a 52 week high of $62.66. The company has a quick ratio of 1.29, a current ratio of 2.78 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $8.39 billion, a P/E ratio of 24.82, a PEG ratio of 0.83 and a beta of 1.14.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Balyasny Asset Management L.P. grew its position in shares of Birkenstock by 214.3% during the second quarter. Balyasny Asset Management L.P. now owns 2,991,187 shares of the company’s stock worth $147,107,000 after purchasing an additional 2,039,623 shares in the last quarter. Bamco Inc. NY raised its position in shares of Birkenstock by 41.9% during the third quarter. Bamco Inc. NY now owns 6,353,801 shares of the company’s stock valued at $287,509,000 after buying an additional 1,876,398 shares during the last quarter. Norges Bank bought a new stake in shares of Birkenstock during the second quarter valued at approximately $62,097,000. Holocene Advisors LP lifted its holdings in shares of Birkenstock by 239.3% in the second quarter. Holocene Advisors LP now owns 1,748,348 shares of the company’s stock worth $85,984,000 after buying an additional 1,233,085 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Birkenstock during the first quarter worth $52,385,000. 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.