Kontoor Brands (NYSE:KTB) Given New $93.00 Price Target at Barclays

Kontoor Brands (NYSE:KTB) had its target price lowered by research analysts at Barclays from $100.00 to $93.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 26.52% from the stock’s current price.

Several other equities research analysts have also weighed in on KTB. Wells Fargo & Company upped their price objective on Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. UBS Group lowered their price target on Kontoor Brands from $112.00 to $108.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. Stifel Nicolaus cut Kontoor Brands from a “buy” rating to a “hold” rating and lifted their price objective for the company from $89.00 to $93.00 in a report on Friday, November 1st. Finally, Guggenheim lifted their price target on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 1st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.17.

Kontoor Brands Stock Performance

Shares of NYSE KTB opened at $73.51 on Wednesday. The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 2.12 and a beta of 1.19. Kontoor Brands has a one year low of $52.95 and a one year high of $96.80. The business has a fifty day simple moving average of $86.77 and a 200 day simple moving average of $83.25. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.07. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The company had revenue of $699.00 million during the quarter, compared to analysts’ expectations of $698.07 million. During the same quarter in the prior year, the company posted $1.28 EPS. The business’s revenue was up 4.4% on a year-over-year basis. Sell-side analysts expect that Kontoor Brands will post 4.82 EPS for the current year.

Hedge Funds Weigh In On Kontoor Brands

A number of large investors have recently modified their holdings of the stock. Sanctuary Advisors LLC acquired a new stake in shares of Kontoor Brands in the third quarter valued at approximately $332,000. Janus Henderson Group PLC increased its stake in shares of Kontoor Brands by 31.4% in the 3rd quarter. Janus Henderson Group PLC now owns 47,474 shares of the company’s stock valued at $3,883,000 after buying an additional 11,337 shares during the period. Fortitude Family Office LLC increased its stake in shares of Kontoor Brands by 407.3% in the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock valued at $36,000 after buying an additional 334 shares during the period. International Assets Investment Management LLC raised its position in shares of Kontoor Brands by 8,078.0% during the third quarter. International Assets Investment Management LLC now owns 28,623 shares of the company’s stock worth $2,341,000 after acquiring an additional 28,273 shares during the last quarter. Finally, Natixis Advisors LLC lifted its stake in shares of Kontoor Brands by 6.7% during the third quarter. Natixis Advisors LLC now owns 17,383 shares of the company’s stock valued at $1,422,000 after acquiring an additional 1,087 shares during the period. 93.06% of the stock is currently owned by institutional investors and hedge funds.

About Kontoor Brands

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.