Barclays Forecasts Strong Price Appreciation for Kontoor Brands (NYSE:KTB) Stock

Kontoor Brands (NYSE:KTB) had its price objective upped by equities research analysts at Barclays from $75.00 to $86.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 20.77% from the company’s current price.

A number of other analysts have also issued reports on the company. Wells Fargo & Company increased their target price on Kontoor Brands from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, May 14th. Stifel Nicolaus dropped their price target on Kontoor Brands from $83.00 to $72.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Finally, UBS Group raised their price objective on Kontoor Brands from $83.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Kontoor Brands has an average rating of “Moderate Buy” and a consensus target price of $88.00.

Kontoor Brands Trading Down 2.5%

NYSE:KTB opened at $71.21 on Tuesday. The stock has a fifty day simple moving average of $62.83 and a 200 day simple moving average of $77.04. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05. Kontoor Brands has a 1-year low of $50.00 and a 1-year high of $96.80. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB) last announced 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 analysts’ expectations of $625.44 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period last year, the company posted $1.16 earnings per share. Sell-side analysts forecast that Kontoor Brands will post 4.82 earnings per share for the current year.

Hedge Funds Weigh In On Kontoor Brands

Hedge funds have recently modified their holdings of the stock. Barclays PLC boosted its position in Kontoor Brands by 316.3% during the third quarter. Barclays PLC now owns 101,522 shares of the company’s stock valued at $8,303,000 after purchasing an additional 77,137 shares during the last quarter. Ritholtz Wealth Management raised its stake in shares of Kontoor Brands by 12.8% during the 4th quarter. Ritholtz Wealth Management now owns 6,776 shares of the company’s stock worth $579,000 after purchasing an additional 771 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Kontoor Brands by 0.4% during the 4th quarter. UMB Bank n.a. now owns 51,305 shares of the company’s stock valued at $4,382,000 after buying an additional 210 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Kontoor Brands by 3.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 4,775 shares of the company’s stock valued at $408,000 after buying an additional 141 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Kontoor Brands in the 4th quarter valued at approximately $154,000. 93.06% of the stock is owned by institutional investors and hedge funds.

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.