Birkenstock Reaches 20-Day High
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 31 2024
0mins
Should l Buy BIRK?
Source: NASDAQ.COM
Birkenstock Holding PLC has seen a notable increase in its stock price, rising by 4.13% in the regular market session.
This movement comes as the stock reached a 20-day high, indicating positive momentum and investor interest.
In the broader market context, major benchmarks are trading sideways with mixed signals, which suggests that Birkenstock's performance is driven more by its technical factors rather than external news.
Investors are closely monitoring the stock for further developments, as it may indicate a potential upward trend in the coming days.
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Analyst Views on BIRK
Wall Street analysts forecast BIRK stock price to rise
19 Analyst Rating
16 Buy
3 Hold
0 Sell
Strong Buy
Current: 41.790
Low
47.00
Averages
58.00
High
77.00
Current: 41.790
Low
47.00
Averages
58.00
High
77.00
About BIRK
Birkenstock Holding plc operates through Birkenstock Group B.V. & Co. KG and its subsidiaries. Birkenstock is a global brand, which has developed a unisex portfolio of footbed-based products that serve consumers of all geographies, genders, ages, and income levels. Its proprietary footbed, which reflects the anatomy of the human foot, represents the foundation of its brand and products. It operates a vertically integrated manufacturing base and produces all its footbeds in Germany. BIRKENSTOCK offers a wide range of products that go beyond footwear, including sleep systems and natural cosmetics, catering to both entry-level and luxury markets. The Company operates its channels, utilizing the business-to-business (B2B) channel to facilitate brand accessibility while fully engaging consumers in its direct-to-consumer (DTC) channel, which offers its complete product range and access to its silhouettes.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Sales Performance Overview: Birkenstock reported Q1 sales of $467.9 million, slightly missing the market expectation of $468.5 million, although it showed an 11.1% year-over-year growth, indicating strong holiday demand.
- Regional Growth Analysis: Sales grew across all regions, with APAC leading at 28% growth (37% on a constant currency basis), Americas up 5% (14% constant currency), and EMEA up 16% (17% constant currency), showcasing robust global market performance.
- Profitability Changes: Adjusted EBITDA rose 4% year-over-year to €106 million, but margins narrowed by 170 basis points to 26.5%, primarily due to unfavorable currency translation and U.S. tariffs, which reduced margins by 230 and 130 basis points, respectively.
- Future Outlook: The company raised its fiscal 2026 sales guidance to $2.759 billion to $2.808 billion, reflecting confidence in future growth, while Telsey Advisory Group analyst reiterated an Outperform rating on Birkenstock with a price target of $60.
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- Gross Margin Decline: The adjusted gross profit margin stood at 57.4%, down 290 basis points from 60.3% in the prior year, highlighting the impact of cost pressures on profitability, which may affect future pricing strategies.
- EBITDA Growth: Adjusted EBITDA reached €106 million, up 4% year-over-year, although the EBITDA margin decreased to 26.5%, down 170 basis points from 28.2% in the previous year, indicating challenges in cost control.
- Investor Outlook: At the Investor Day, Birkenstock tempered its growth outlook; however, analysts reiterated a “Buy” rating, reflecting confidence in the company's long-term potential.
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