Wells Fargo & Company Boosts Kontoor Brands (NYSE:KTB) Price Target to $90.00

Kontoor Brands (NYSE:KTB) had its target price raised by analysts at Wells Fargo & Company from $85.00 to $90.00 in a research report issued to clients and investors on Wednesday, Marketbeat reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 22.25% from the company’s current price.

Several other research firms also recently commented on KTB. Stifel Nicolaus decreased their target price on shares of Kontoor Brands from $83.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. Barclays boosted their target price on shares of Kontoor Brands from $69.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Finally, UBS Group boosted their target price on shares of Kontoor Brands from $83.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.80.

Kontoor Brands Price Performance

Shares of NYSE KTB opened at $73.62 on Wednesday. The firm’s 50-day moving average price is $61.88 and its 200-day moving average price is $77.25. Kontoor Brands has a 1-year low of $50.00 and a 1-year high of $96.80. The firm has a market capitalization of $4.09 billion, a P/E ratio of 16.58, a P/E/G ratio of 2.12 and a beta of 1.05. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB) last posted its earnings results on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.16 by $0.04. The company had revenue of $622.90 million during the quarter, compared to the consensus estimate of $625.44 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.16 earnings per share. Equities research analysts anticipate that Kontoor Brands will post 4.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kontoor Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in KTB. HHM Wealth Advisors LLC purchased a new stake in Kontoor Brands in the 4th quarter valued at about $29,000. CX Institutional purchased a new stake in Kontoor Brands in the 1st quarter valued at about $32,000. Huntington National Bank increased its stake in Kontoor Brands by 62.4% in the 4th quarter. Huntington National Bank now owns 385 shares of the company’s stock valued at $33,000 after buying an additional 148 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Kontoor Brands by 46.7% during the 1st quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock valued at $42,000 after acquiring an additional 207 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of Kontoor Brands by 229.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company’s stock valued at $62,000 after acquiring an additional 503 shares during the period. 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.