Kontoor Brands (NYSE:KTB) Given New $86.00 Price Target at Barclays

Kontoor Brands (NYSE:KTB - Get Free Report) had its price objective increased by analysts at Barclays from $75.00 to $86.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's price target would indicate a potential upside of 23.46% from the company's previous close.

KTB has been the subject of a number of other reports. UBS Group lifted their price objective on Kontoor Brands from $83.00 to $92.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Wells Fargo & Company lifted their target price on Kontoor Brands from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. Finally, Stifel Nicolaus reduced their price target on shares of Kontoor Brands from $83.00 to $72.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Kontoor Brands currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.00.

Kontoor Brands Stock Performance

Kontoor Brands stock traded down $1.36 during mid-day trading on Tuesday, reaching $69.66. 514,104 shares of the company traded hands, compared to its average volume of 551,944. The firm's fifty day moving average is $63.13 and its two-hundred day moving average is $76.78. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05. Kontoor Brands has a fifty-two week low of $50.00 and a fifty-two week high of $96.80. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.20 earnings per share for the quarter, topping analysts' consensus estimates of $1.16 by $0.04. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The firm had revenue of $622.90 million for the quarter, compared to analyst estimates of $625.44 million. During the same quarter in the prior year, the business earned $1.16 earnings per share. The business's quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities research analysts expect that Kontoor Brands will post 4.82 earnings per share for the current fiscal year.

Institutional Trading of Kontoor Brands

Large investors have recently made changes to their positions in the stock. HHM Wealth Advisors LLC purchased a new stake in Kontoor Brands in the fourth quarter valued at approximately $29,000. CX Institutional acquired a new position in shares of Kontoor Brands in the 1st quarter valued at $32,000. Huntington National Bank boosted its holdings in shares of Kontoor Brands by 62.4% in the 4th quarter. Huntington National Bank now owns 385 shares of the company's stock valued at $33,000 after purchasing an additional 148 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Kontoor Brands by 46.7% during the 1st quarter. Versant Capital Management Inc now owns 650 shares of the company's stock valued at $42,000 after buying an additional 207 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Kontoor Brands by 229.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company's stock worth $62,000 after buying an additional 503 shares during the last quarter. Institutional investors and hedge funds own 93.06% of the company's stock.

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.