Kontoor Brands (NYSE:KTB) Rating Increased to B at TheStreet

Kontoor Brands (NYSE:KTBGet Rating) was upgraded by stock analysts at TheStreet from a “c” rating to a “b” rating in a research report issued on Friday, TheStreetRatingsTable reports.

A number of other equities research analysts also recently weighed in on KTB. Zacks Investment Research raised Kontoor Brands from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Tuesday, May 10th. Barclays decreased their price target on Kontoor Brands from $63.00 to $53.00 in a research note on Friday, April 1st. Four research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $66.50.

Shares of NYSE KTB opened at $42.48 on Friday. Kontoor Brands has a 12 month low of $39.01 and a 12 month high of $67.00. The company has a market cap of $2.38 billion, a P/E ratio of 11.73, a P/E/G ratio of 1.11 and a beta of 1.09. The business’s 50 day moving average is $42.18 and its two-hundred day moving average is $48.36. The company has a quick ratio of 1.12, a current ratio of 2.01 and a debt-to-equity ratio of 4.29.

Kontoor Brands (NYSE:KTBGet Rating) last announced its earnings results on Thursday, May 5th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.17. The business had revenue of $679.70 million for the quarter, compared to analyst estimates of $655.65 million. Kontoor Brands had a net margin of 8.46% and a return on equity of 138.25%. Kontoor Brands’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.43 earnings per share. Sell-side analysts expect that Kontoor Brands will post 4.8 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. CIBC Asset Management Inc increased its holdings in Kontoor Brands by 4.5% during the 3rd quarter. CIBC Asset Management Inc now owns 4,281 shares of the company’s stock valued at $214,000 after purchasing an additional 186 shares in the last quarter. KBC Group NV increased its stake in shares of Kontoor Brands by 2.4% in the third quarter. KBC Group NV now owns 9,333 shares of the company’s stock valued at $466,000 after buying an additional 222 shares in the last quarter. NN Investment Partners Holdings N.V. increased its stake in shares of Kontoor Brands by 27.6% in the first quarter. NN Investment Partners Holdings N.V. now owns 1,171 shares of the company’s stock valued at $48,000 after buying an additional 253 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Kontoor Brands by 3.1% in the fourth quarter. Victory Capital Management Inc. now owns 8,623 shares of the company’s stock valued at $442,000 after buying an additional 261 shares during the last quarter. Finally, Guyasuta Investment Advisors Inc. lifted its position in Kontoor Brands by 0.8% during the 1st quarter. Guyasuta Investment Advisors Inc. now owns 35,816 shares of the company’s stock worth $1,481,000 after buying an additional 295 shares in the last quarter. 99.18% of the stock is currently owned by institutional investors and hedge funds.

Kontoor Brands Company Profile (Get Rating)

Kontoor Brands, Inc, a lifestyle apparel company, designs, manufactures, procures, markets, and distributes denim, apparel, and accessories under the Wrangler, Lee, and Rock & Republic brands in the United States and internationally. It operates through two segments, Wrangler and Lee. The company sells its products primarily through mass merchants, specialty stores, mid-tier and traditional department stores, company-operated stores, and online.

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