Birkenstock (NYSE:BIRK) Announces Earnings Results

Birkenstock (NYSE:BIRK) released its quarterly earnings data on Thursday. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.07), reports. The business had revenue of $564.76 million for the quarter, compared to the consensus estimate of $628.70 million. Birkenstock updated its FY 2024 guidance to EPS.

Birkenstock Stock Performance

BIRK opened at $49.89 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.87 and a quick ratio of 1.13. Birkenstock has a 1-year low of $35.83 and a 1-year high of $64.78. The company has a 50-day moving average of $57.29 and a 200-day moving average of $51.80.

Analyst Ratings Changes

A number of analysts recently weighed in on BIRK shares. Bank of America raised shares of Birkenstock from a “neutral” rating to a “buy” rating and upped their price target for the stock from $62.00 to $65.00 in a research report on Thursday, July 25th. Morgan Stanley increased their target price on Birkenstock from $44.00 to $58.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 25th. UBS Group raised Birkenstock from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $52.00 to $85.00 in a research report on Monday, July 1st. Citigroup began coverage on Birkenstock in a report on Monday, July 1st. They issued a “buy” rating and a $65.00 price target for the company. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $70.00 price objective on shares of Birkenstock in a research note on Thursday. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $62.23.

Institutional Trading of Birkenstock

Several institutional investors and hedge funds have recently bought and sold shares of BIRK. GAMMA Investing LLC raised its holdings in shares of Birkenstock by 377.1% during the second quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $36,000 after purchasing an additional 528 shares during the period. Banque Cantonale Vaudoise bought a new stake in shares of Birkenstock during the 1st quarter valued at about $40,000. CWM LLC raised its stake in Birkenstock by 358.2% during the first quarter. CWM LLC now owns 2,181 shares of the company’s stock worth $103,000 after acquiring an additional 1,705 shares during the period. Venturi Wealth Management LLC lifted its holdings in Birkenstock by 123.5% in the first quarter. Venturi Wealth Management LLC now owns 3,800 shares of the company’s stock worth $180,000 after acquiring an additional 2,100 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Birkenstock in the second quarter valued at approximately $136,000. Institutional investors and hedge funds 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.