Birkenstock (NYSE:BIRK) Releases Quarterly Earnings Results, Misses Estimates By $0.07 EPS

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

Birkenstock Stock Down 2.0 %

Shares of NYSE BIRK opened at $49.89 on Friday. Birkenstock has a one year low of $35.83 and a one year high of $64.78. The company has a quick ratio of 1.13, a current ratio of 2.87 and a debt-to-equity ratio of 0.56. The stock’s fifty day moving average price is $57.29 and its two-hundred day moving average price is $51.80.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BIRK shares. Telsey Advisory Group reissued an “outperform” rating and issued a $70.00 target price on shares of Birkenstock in a research note on Thursday. BNP Paribas initiated coverage on shares of Birkenstock in a report on Thursday, June 20th. They set an “outperform” rating and a $68.00 target price on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $70.00 price target on shares of Birkenstock in a research note on Thursday, June 13th. Morgan Stanley raised their price objective on shares of Birkenstock from $44.00 to $58.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 25th. Finally, JPMorgan Chase & Co. upped their target price on shares of Birkenstock from $56.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, June 3rd. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $62.23.

Institutional Trading of Birkenstock

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in shares of Birkenstock by 377.1% in the second quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock valued at $36,000 after buying an additional 528 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Birkenstock during the 1st quarter valued at $40,000. CWM LLC grew its holdings in shares of Birkenstock by 358.2% during the 1st quarter. CWM LLC now owns 2,181 shares of the company’s stock worth $103,000 after purchasing an additional 1,705 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of 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 purchasing an additional 2,100 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in Birkenstock in the second quarter valued at about $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.