Kontoor Brands (NYSE:KTB) Rating Lowered to Strong Sell at Zacks Research

Kontoor Brands (NYSE:KTB) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. BTIG Research reissued a “buy” rating and issued a $100.00 price objective on shares of Kontoor Brands in a research note on Friday, May 1st. Barclays increased their price objective on shares of Kontoor Brands from $93.00 to $96.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. The Goldman Sachs Group increased their price objective on shares of Kontoor Brands from $84.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Stifel Nicolaus increased their price objective on shares of Kontoor Brands from $75.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, March 3rd. Finally, UBS Group increased their price objective on shares of Kontoor Brands from $118.00 to $131.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.20.

Kontoor Brands Stock Performance

Shares of Kontoor Brands stock opened at $80.48 on Wednesday. The company has a market cap of $4.45 billion, a PE ratio of 16.29 and a beta of 0.89. The company has a current ratio of 1.87, a quick ratio of 1.10 and a debt-to-equity ratio of 1.83. The company has a 50 day moving average of $71.45 and a 200-day moving average of $68.10. Kontoor Brands has a 1-year low of $53.55 and a 1-year high of $87.00.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Thursday, May 7th. The company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.11). The company had revenue of $613.32 million during the quarter, compared to the consensus estimate of $784.76 million. Kontoor Brands had a net margin of 8.30% and a return on equity of 60.17%. Kontoor Brands’s revenue for the quarter was up 45.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.20 EPS. Kontoor Brands has set its FY 2026 guidance at 6.600-6.700 EPS. As a group, equities research analysts forecast that Kontoor Brands will post 5.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kontoor Brands

Several large investors have recently modified their holdings of the company. UBS Group AG grew its holdings in Kontoor Brands by 3.8% during the 4th quarter. UBS Group AG now owns 551,758 shares of the company’s stock worth $33,707,000 after acquiring an additional 20,270 shares during the period. Skba Capital Management LLC grew its holdings in Kontoor Brands by 14.5% during the 3rd quarter. Skba Capital Management LLC now owns 283,891 shares of the company’s stock worth $22,646,000 after acquiring an additional 35,980 shares during the period. Fieldview Capital Management LLC grew its holdings in Kontoor Brands by 50.8% during the 3rd quarter. Fieldview Capital Management LLC now owns 57,491 shares of the company’s stock worth $4,586,000 after acquiring an additional 19,363 shares during the period. Intech Investment Management LLC grew its holdings in Kontoor Brands by 100.1% during the 3rd quarter. Intech Investment Management LLC now owns 139,122 shares of the company’s stock worth $11,098,000 after acquiring an additional 69,609 shares during the period. Finally, Capital World Investors grew its holdings in Kontoor Brands by 8.5% during the 3rd quarter. Capital World Investors now owns 1,276,410 shares of the company’s stock worth $101,819,000 after acquiring an additional 100,000 shares during the period. 93.06% of the stock is currently owned by institutional investors and hedge funds.

About Kontoor Brands

Kontoor Brands, Inc is a global apparel company best known for its Wrangler and Lee denim and lifestyle brands. Established as an independent, publicly traded company in May 2019 following a spin-off from VF Corporation, Kontoor leverages a legacy that dates back to 1889 with the founding of Lee and to 1947 with the introduction of the Wrangler brand. The company focuses on designing, manufacturing and distributing premium, casual and workwear apparel, including jeans, pants, shorts, shirts, jackets and complementary accessories.

Kontoor Brands operates a diversified sales model that combines wholesale partnerships with leading retailers, distribution through e-commerce channels and select direct-to-consumer formats.