Kontoor Brands (NYSE:KTB) Price Target Raised to $100.00

Kontoor Brands (NYSE:KTB) had its price target increased by stock analysts at Barclays from $83.00 to $100.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 23.44% from the stock’s current price.

Several other analysts also recently issued reports on the company. Guggenheim increased their price target on Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and increased their target price for the company from $89.00 to $93.00 in a research note on Friday. UBS Group boosted their price target on Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Wells Fargo & Company boosted their target price on shares of Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.67.

Kontoor Brands Trading Down 5.4 %

Shares of Kontoor Brands stock traded down $4.62 during mid-day trading on Friday, hitting $81.01. 586,749 shares of the stock were exchanged, compared to its average volume of 482,786. The company has a 50-day simple moving average of $77.65 and a 200 day simple moving average of $71.15. The company has a current ratio of 2.74, a quick ratio of 1.43 and a debt-to-equity ratio of 2.04. The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 1.99 and a beta of 1.20. Kontoor Brands has a twelve month low of $39.90 and a twelve month high of $89.76.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.12. The company had revenue of $670.19 million for the quarter, compared to the consensus estimate of $663.45 million. Kontoor Brands had a net margin of 9.35% and a return on equity of 72.43%. Kontoor Brands’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.22 earnings per share. Research analysts forecast that Kontoor Brands will post 4.8 EPS for the current year.

Institutional Investors Weigh In On Kontoor Brands

A number of institutional investors have recently modified their holdings of KTB. Commonwealth Equity Services LLC grew its position in shares of Kontoor Brands by 4.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 13,291 shares of the company’s stock worth $801,000 after acquiring an additional 546 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Kontoor Brands by 12.4% during the first quarter. BNP Paribas Financial Markets now owns 54,637 shares of the company’s stock worth $3,292,000 after purchasing an additional 6,009 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in Kontoor Brands in the first quarter worth $2,013,000. Mendel Money Management raised its holdings in shares of Kontoor Brands by 235.4% during the first quarter. Mendel Money Management now owns 4,580 shares of the company’s stock worth $276,000 after purchasing an additional 7,963 shares during the period. Finally, Texas Permanent School Fund Corp lifted its position in shares of Kontoor Brands by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 43,760 shares of the company’s stock worth $2,637,000 after buying an additional 567 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.