Barclays Issues Positive Forecast for Kontoor Brands (NYSE:KTB) Stock Price

Kontoor Brands (NYSE:KTB - Get Free Report) had its price target lifted by stock analysts at Barclays from $75.00 to $86.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's price objective would suggest a potential upside of 17.17% from the stock's previous close.

A number of other research firms have also recently commented on KTB. UBS Group upped their target price on shares of Kontoor Brands from $83.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Stifel Nicolaus decreased their price objective on shares of Kontoor Brands from $83.00 to $72.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Finally, Wells Fargo & Company increased their price objective on shares of Kontoor Brands from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Kontoor Brands presently has a consensus rating of "Moderate Buy" and an average target price of $88.00.

Kontoor Brands Trading Up 0.9%

KTB opened at $73.40 on Tuesday. The stock has a market capitalization of $4.08 billion, a PE ratio of 16.53, a P/E/G ratio of 2.12 and a beta of 1.05. Kontoor Brands has a one year low of $50.00 and a one year high of $96.80. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. The business's 50 day moving average price is $62.38 and its 200 day moving average price is $77.11.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, beating analysts' consensus estimates of $1.16 by $0.04. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The company had revenue of $622.90 million for the quarter, compared to the consensus estimate of $625.44 million. During the same quarter in the previous year, the business earned $1.16 earnings per share. The company's revenue for the quarter was down 1.3% on a year-over-year basis. As a group, equities research analysts expect that Kontoor Brands will post 4.82 EPS for the current year.

Institutional Trading of Kontoor Brands

A number of institutional investors and hedge funds have recently bought and sold shares of KTB. Barclays PLC grew its holdings in shares of Kontoor Brands by 316.3% in 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 in the last quarter. Ritholtz Wealth Management grew its stake in shares of Kontoor Brands by 12.8% in the fourth quarter. Ritholtz Wealth Management now owns 6,776 shares of the company's stock worth $579,000 after acquiring an additional 771 shares in the last quarter. UMB Bank n.a. increased its position in shares of Kontoor Brands by 0.4% during the fourth quarter. UMB Bank n.a. now owns 51,305 shares of the company's stock worth $4,382,000 after acquiring an additional 210 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Kontoor Brands by 3.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 4,775 shares of the company's stock valued at $408,000 after acquiring an additional 141 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Kontoor Brands in the fourth quarter valued at $154,000. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

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.

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