Kontoor Brands (NYSE:KTB) Hits New 52-Week High – What’s Next?

Kontoor Brands, Inc. (NYSE:KTB) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $95.25 and last traded at $94.13, with a volume of 66265 shares. The stock had previously closed at $91.59.

Wall Street Analyst Weigh In

A number of research analysts recently commented on KTB shares. Guggenheim upped their price objective on Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus downgraded Kontoor Brands from a “buy” rating to a “hold” rating and raised their price objective for the stock from $89.00 to $93.00 in a research report on Friday, November 1st. Wells Fargo & Company increased their target price on shares of Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. UBS Group boosted their price target on shares of Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Barclays increased their price objective on shares of Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Kontoor Brands presently has a consensus rating of “Moderate Buy” and an average target price of $95.00.

Kontoor Brands Trading Up 2.1 %

The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. The stock has a market capitalization of $5.16 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 2.11 and a beta of 1.20. The business’s 50-day moving average is $88.36 and its two-hundred day moving average is $80.42.

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, beating analysts’ consensus estimates of $1.26 by $0.11. The firm had revenue of $670.19 million for the quarter, compared to the consensus estimate of $663.45 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.22 earnings per share. As a group, equities research analysts anticipate that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Insider Activity

In related news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $80.71, for a total transaction of $729,537.69. Following the sale, the executive vice president now owns 18,179 shares in the company, valued at approximately $1,467,227.09. This trade represents a 33.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott H. Baxter sold 119,160 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $83.60, for a total value of $9,961,776.00. Following the completion of the transaction, the chief executive officer now owns 331,916 shares of the company’s stock, valued at $27,748,177.60. This trade represents a 26.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Kontoor Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vest Financial LLC boosted its position in shares of Kontoor Brands by 47.7% in the fourth quarter. Vest Financial LLC now owns 28,252 shares of the company’s stock worth $2,413,000 after acquiring an additional 9,121 shares during the last quarter. Tectonic Advisors LLC acquired a new position in shares of Kontoor Brands in the 4th quarter valued at $497,000. Hodges Capital Management Inc. purchased a new stake in shares of Kontoor Brands during the 4th quarter valued at $3,246,000. Jennison Associates LLC increased its holdings in shares of Kontoor Brands by 4.6% during the 4th quarter. Jennison Associates LLC now owns 792,078 shares of the company’s stock worth $67,651,000 after buying an additional 34,652 shares during the last quarter. Finally, HHM Wealth Advisors LLC purchased a new position in shares of Kontoor Brands in the 4th quarter worth $29,000. Hedge funds and other institutional investors 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.