Kontoor Brands (NYSE:KTB) Stock Price Expected to Rise, UBS Group Analyst Says

Kontoor Brands (NYSE:KTB) had its target price lifted by stock analysts at UBS Group from $83.00 to $92.00 in a research report issued to clients and investors on Wednesday, MarketBeat reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective indicates a potential upside of 32.76% from the stock’s current price.

Other analysts also recently issued reports about the company. Barclays upped their target price on Kontoor Brands from $69.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday. Stifel Nicolaus cut their price target on shares of Kontoor Brands from $83.00 to $72.00 and set a “hold” rating for the company in a report on Thursday, April 10th. Finally, Wells Fargo & Company lowered their price objective on shares of Kontoor Brands from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.80.

Kontoor Brands Trading Up 2.8 %

Shares of Kontoor Brands stock opened at $69.30 on Wednesday. Kontoor Brands has a 52-week low of $50.00 and a 52-week high of $96.80. The stock has a market cap of $3.83 billion, a PE ratio of 15.61, a PEG ratio of 2.12 and a beta of 1.05. The firm has a 50-day moving average of $60.75 and a 200-day moving average of $77.43. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50.

Kontoor Brands (NYSE:KTB) last announced its earnings results on Tuesday, May 6th. The company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.04. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The firm had revenue of $622.90 million for the quarter, compared to analyst estimates of $625.44 million. During the same quarter in the prior year, the business posted $1.16 EPS. The business’s revenue was down 1.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Kontoor Brands will post 4.82 EPS for the current year.

Institutional Trading of Kontoor Brands

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. HHM Wealth Advisors LLC bought a new position in shares of Kontoor Brands in the 4th quarter valued at $29,000. CX Institutional bought a new position in Kontoor Brands in the first quarter valued at about $32,000. Huntington National Bank boosted its stake in shares of Kontoor Brands by 62.4% during the fourth quarter. Huntington National Bank now owns 385 shares of the company’s stock valued at $33,000 after purchasing an additional 148 shares in the last quarter. Fortitude Family Office LLC grew its holdings in shares of Kontoor Brands by 407.3% during the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock worth $36,000 after purchasing an additional 334 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of Kontoor Brands by 46.7% in the first quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock valued at $42,000 after buying an additional 207 shares during the period. 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.