Birkenstock ranks first in the apparel and shoes manufacturing industry group, boasting a 98 Composite Rating. The stock’s performance has earned it spots on both IPO Leaders and IBD Sector Leaders. Institutional demand is also high, as it laces up a new buy point.
The iconic brand, worn by Apple co-founder Steve Jobs and Kim Kardashian, has seen significant growth in its fourth-quarter earnings and sales. Revenue jumped 28% to $507.5 million, while earnings spiked 128% compared to the prior-year quarter. Analysts forecast 42% earnings growth for the full fiscal year.
Birkenstock’s strong performance is driving demand for shares, with an A Accumulation/Distribution Rating and a 1.5 up/down volume ratio. The company has taken positive steps, including resetting its base count and seeing its 21-day exponential moving average shoot back above its longer-term 50-day line.
The buy point is currently at 62.45, and the stock showed promising signs on the first trading day of the New Year by bouncing off its 21-day line.
Source: https://www.investors.com/research/ibd-stock-analysis/birkenstock-birk-stock-ipo-leader-near-breakout