Birkenstock (NYSE:BIRK) Announces Earnings Results, Beats Estimates By $0.03 EPS

Birkenstock (NYSE:BIRK) announced its quarterly earnings results on Thursday. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03, Zacks reports. Birkenstock had a net margin of 10.57% and a return on equity of 8.82%.

Birkenstock Price Performance

NYSE:BIRK traded down $1.63 on Thursday, hitting $53.07. The company had a trading volume of 1,900,386 shares, compared to its average volume of 1,490,078. The stock has a market capitalization of $9.97 billion, a price-to-earnings ratio of 49.09, a PEG ratio of 1.09 and a beta of 1.61. The company has a current ratio of 2.60, a quick ratio of 1.20 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average of $57.59 and a two-hundred day moving average of $53.26. Birkenstock has a 52 week low of $41.00 and a 52 week high of $64.78.

Analyst Ratings Changes

A number of research analysts have issued reports on BIRK shares. HSBC upgraded shares of Birkenstock from a “hold” rating to a “buy” rating and increased their target price for the stock from $58.00 to $60.00 in a research report on Tuesday, December 3rd. BMO Capital Markets increased their target price on shares of Birkenstock from $60.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Piper Sandler started coverage on shares of Birkenstock in a research report on Tuesday, December 10th. They set an “overweight” rating and a $65.00 target price on the stock. Telsey Advisory Group restated an “outperform” rating and set a $70.00 target price on shares of Birkenstock in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Birkenstock from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $68.31.

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.