Kontoor Brands (NYSE:KTB – Get Free Report) had its price objective boosted by investment analysts at Wells Fargo & Company from $80.00 to $90.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 15.49% from the stock’s previous close.
A number of other research firms have also weighed in on KTB. Barclays upped their target price on Kontoor Brands from $76.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Stifel Nicolaus upped their price target on Kontoor Brands from $80.00 to $89.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. UBS Group upped their target price on Kontoor Brands from $90.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Guggenheim upped their target price on Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $87.00.
Check Out Our Latest Stock Analysis on KTB
Kontoor Brands Price Performance
Kontoor Brands (NYSE:KTB – Get Free Report) last released its earnings results on Thursday, August 1st. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.10. The firm had revenue of $607.00 million for the quarter, compared to analysts’ expectations of $592.97 million. Kontoor Brands had a return on equity of 72.43% and a net margin of 9.35%. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 earnings per share. Equities analysts forecast that Kontoor Brands will post 4.8 EPS for the current year.
Institutional Investors Weigh In On Kontoor Brands
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwest Investment Counselors LLC acquired a new stake in Kontoor Brands during the 3rd quarter worth about $30,000. Quest Partners LLC acquired a new stake in Kontoor Brands during the 2nd quarter worth about $27,000. Sound Income Strategies LLC acquired a new stake in Kontoor Brands during the 3rd quarter worth about $48,000. GAMMA Investing LLC grew its position in Kontoor Brands by 53.5% during the 3rd quarter. GAMMA Investing LLC now owns 700 shares of the company’s stock worth $57,000 after purchasing an additional 244 shares during the period. Finally, Signaturefd LLC boosted its stake in shares of Kontoor Brands by 49.9% during the 2nd quarter. Signaturefd LLC now owns 973 shares of the company’s stock worth $64,000 after acquiring an additional 324 shares in the last quarter. 93.06% of the stock is owned by institutional investors and hedge funds.
About Kontoor Brands
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.
See Also
- Five stocks we like better than Kontoor Brands
- What is an Earnings Surprise?
- Chinese Stocks Cool Off: Time to Buy the Dip in These 2 Stocks?
- How to Find Undervalued Stocks
- Goldman Sachs Highlights 3 Top Short Squeeze Stocks to Watch
- Are Penny Stocks a Good Fit for Your Portfolio?
- Walmart is Up 56% YTD, Is it Still a Top Consumer Staples Stock?
Receive News & Ratings for Kontoor Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kontoor Brands and related companies with MarketBeat.com's FREE daily email newsletter.