Kontoor Brands (NYSE:KTB – Get Free Report) had its price target lifted by research analysts at Barclays from $83.00 to $100.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 22.47% from the company’s previous close.
Other research analysts have also recently issued reports about the stock. Stifel Nicolaus cut shares of Kontoor Brands from a “buy” rating to a “hold” rating and raised their target price for the stock from $89.00 to $93.00 in a report on Friday. UBS Group raised their price objective on Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday. Guggenheim lifted their price objective on Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company increased their target price on Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Kontoor Brands currently has an average rating of “Moderate Buy” and a consensus target price of $95.00.
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Kontoor Brands Stock Performance
NYSE:KTB opened at $81.65 on Friday. The company has a current ratio of 2.50, a quick ratio of 1.43 and a debt-to-equity ratio of 2.09. The stock has a 50 day simple moving average of $77.81 and a 200 day simple moving average of $71.46. Kontoor Brands has a 1-year low of $39.90 and a 1-year high of $89.76. The stock has a market cap of $4.55 billion, a P/E ratio of 18.39, a PEG ratio of 2.23 and a beta of 1.19.
Kontoor Brands (NYSE:KTB – Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.12. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The company had revenue of $670.19 million during the quarter, compared to analysts’ expectations of $663.45 million. During the same quarter in the previous year, the business posted $1.22 earnings per share. Kontoor Brands’s quarterly revenue was up 2.4% on a year-over-year basis. Research analysts anticipate that Kontoor Brands will post 4.8 earnings per share for the current year.
Hedge Funds Weigh In On Kontoor Brands
A number of institutional investors have recently modified their holdings of KTB. Quest Partners LLC acquired a new stake in Kontoor Brands in the second quarter valued at about $27,000. Northwest Investment Counselors LLC acquired a new position in Kontoor Brands during the third quarter worth about $30,000. Farther Finance Advisors LLC lifted its holdings in shares of Kontoor Brands by 242.5% in the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock worth $32,000 after acquiring an additional 274 shares during the last quarter. Sound Income Strategies LLC acquired a new stake in shares of Kontoor Brands in the 3rd quarter valued at approximately $48,000. Finally, GAMMA Investing LLC grew its holdings in shares of Kontoor Brands by 53.5% during the 3rd quarter. GAMMA Investing LLC now owns 700 shares of the company’s stock valued at $57,000 after purchasing an additional 244 shares during the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.
Kontoor Brands Company Profile
Kontoor Brands, Inc, a lifestyle apparel company, designs, produces, procures, markets, distributes, and licenses denim, apparel, footwear, and accessories, primarily under the Wrangler and Lee brands. The company operates through two segments: Wrangler and Lee. It licenses and sells apparel under the Rock & Republic brand name.
Further Reading
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