Stifel Nicolaus Cuts Kontoor Brands (NYSE:KTB) Price Target to $45.00

Kontoor Brands (NYSE:KTB – Get Rating) had its price objective decreased by stock analysts at Stifel Nicolaus from $50.00 to $45.00 in a research note issued on Wednesday, The Fly reports. Stifel Nicolaus’ price objective indicates a potential upside of 7.66% from the company’s previous close.

A number of other equities research analysts also recently commented on KTB. Zacks Investment Research upgraded 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 reduced their price objective on Kontoor Brands from $63.00 to $53.00 in a research note on Friday, April 1st. Finally, TheStreet raised shares of Kontoor Brands from a “c” rating to a “b” rating in a report on Friday, May 13th. Four research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $62.20.

Shares of KTB opened at $41.80 on Wednesday. The firm has a market cap of $2.34 billion, a P/E ratio of 11.55, a price-to-earnings-growth ratio of 1.11 and a beta of 1.09. The company has a debt-to-equity ratio of 4.29, a current ratio of 2.01 and a quick ratio of 1.12. Kontoor Brands has a 1 year low of $39.01 and a 1 year high of $67.00. The company has a 50 day simple moving average of $42.15 and a two-hundred day simple moving average of $48.32.

Kontoor Brands (NYSE:KTB – Get Rating) last posted its earnings results on Thursday, May 5th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.17. The company had revenue of $679.70 million during the quarter, compared to analysts’ expectations of $655.65 million. Kontoor Brands had a net margin of 8.46% and a return on equity of 138.25%. Kontoor Brands’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the company posted $1.43 earnings per share. On average, sell-side analysts anticipate that Kontoor Brands will post 4.8 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KTB. Parallel Advisors LLC raised its holdings in Kontoor Brands by 552.5% during the 1st quarter. Parallel Advisors LLC now owns 659 shares of the company’s stock valued at $28,000 after buying an additional 558 shares during the period. Jones Financial Companies Lllp increased its position in Kontoor Brands by 81.7% during the first quarter. Jones Financial Companies Lllp now owns 1,161 shares of the company’s stock valued at $48,000 after acquiring an additional 522 shares during the last quarter. NN Investment Partners Holdings N.V. raised 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 acquiring an additional 253 shares during the period. Toth Financial Advisory Corp lifted its holdings in shares of Kontoor Brands by 1,387.1% in the 1st quarter. Toth Financial Advisory Corp now owns 2,305 shares of the company’s stock worth $95,000 after acquiring an additional 2,150 shares during the last quarter. Finally, Meritage Portfolio Management bought a new stake in shares of Kontoor Brands in the 4th quarter worth about $212,000. 99.18% of the stock is currently owned by hedge funds and other institutional investors.

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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