Birkenstock Holding stock saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, with an increase from 65 to 72. The sandal maker debut on Oct. 11, 2023.
IBD's unique rating measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the trailing 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history reveals that the top-performing stocks typically have an 80 or better RS Rating in the early stages of their moves. See if Birkenstock Holding stock can continue to show renewed price strength and clear that threshold.
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Is Birkenstock Holdings Stock A Buy?
Birkenstock Holding stock soared almost 12% Thursday on Q2 earnings beat. The footwear stock broke out of a cup without handle with a 55.00 buy point on heavy volume. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The sandal maker posted positive Q2 earnings results for fiscal 2024, beating analysts' estimates and raising full-year guidance citing strong consumer demand across all segments. For more analysis, check out "Birkenstock Breaks Out As 'Strong Consumer Demand' Fuels Earnings".
While earnings growth declined in the company's most recently reported quarter from 0% to -33%, revenue grew 49%, up from 26% in the prior report. The company is expected to report its latest performance numbers on or around May 30.
Birkenstock Holdings stock earns the No. 7 rank among its peers in the Apparel-Shoes & Related industry group. Deckers Outdoor, Skechers USA Cl A and Crocs are among the top 5 highly rated stocks within the group.
