Kontoor Brands (NYSE:KTB) Price Target Raised to $100.00

Key Points

• Wells Fargo & Company has raised the target price for Kontoor Brands from $90.00 to $100.00, reflecting a potential upside of 29.13% from the company's previous close.
• Kontoor Brands reported an EPS of $1.21 for the latest quarter, exceeding analyst expectations by $0.35, and its revenue increased by 8.5% year-over-year.
• The stock has received multiple positive ratings from other analysts, with an average rating of “Moderate Buy” and a consensus price target of $91.33.

Kontoor Brands (NYSE:KTB - Get Free Report) had its target price hoisted by equities research analysts at Wells Fargo & Company from $90.00 to $100.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's price target would indicate a potential upside of 25.45% from the company's previous close.

Other research analysts have also issued research reports about the stock. Barclays reissued an "overweight" rating and issued a $91.00 price objective (up previously from $86.00) on shares of Kontoor Brands in a research note on Friday, August 8th. The Goldman Sachs Group set a $85.00 price objective on shares of Kontoor Brands and gave the company a "buy" rating in a research note on Tuesday, June 10th. Stifel Nicolaus raised their price objective on shares of Kontoor Brands from $72.00 to $73.00 and gave the company a "hold" rating in a research note on Friday, August 8th. Wall Street Zen raised shares of Kontoor Brands from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Finally, UBS Group lifted their price target on shares of Kontoor Brands from $92.00 to $99.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Kontoor Brands currently has an average rating of "Moderate Buy" and a consensus target price of $91.33.

Kontoor Brands Price Performance

Shares of NYSE:KTB traded down $2.30 during midday trading on Thursday, hitting $79.71. The company's stock had a trading volume of 351,825 shares, compared to its average volume of 725,465. The business's 50 day simple moving average is $69.85 and its 200 day simple moving average is $66.24. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.95 and a current ratio of 2.18. The company has a market cap of $4.43 billion, a P/E ratio of 17.80, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. Kontoor Brands has a 12-month low of $50.00 and a 12-month high of $96.80.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.35. Kontoor Brands had a net margin of 9.48% and a return on equity of 68.76%. The firm had revenue of $658.26 million during the quarter, compared to analysts' expectations of $632.97 million. During the same period last year, the business earned $0.98 earnings per share. Kontoor Brands's revenue was up 8.5% compared to the same quarter last year. Kontoor Brands has set its FY 2025 guidance at 5.450-5.450 EPS. Q3 2025 guidance at 1.350-1.350 EPS. On average, analysts forecast that Kontoor Brands will post 4.82 EPS for the current year.

Hedge Funds Weigh In On Kontoor Brands

Several institutional investors have recently bought and sold shares of KTB. JPMorgan Chase & Co. increased its stake in Kontoor Brands by 69.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,553,092 shares of the company's stock valued at $168,428,000 after buying an additional 1,044,921 shares during the period. Norges Bank acquired a new position in shares of Kontoor Brands during the 2nd quarter worth $45,762,000. Invesco Ltd. grew its stake in shares of Kontoor Brands by 54.2% during the 2nd quarter. Invesco Ltd. now owns 1,241,839 shares of the company's stock worth $81,924,000 after purchasing an additional 436,246 shares during the period. Nuveen LLC acquired a new position in shares of Kontoor Brands during the 1st quarter worth $19,837,000. Finally, Balyasny Asset Management L.P. grew its stake in shares of Kontoor Brands by 134.3% during the 2nd quarter. Balyasny Asset Management L.P. now owns 468,630 shares of the company's stock worth $30,916,000 after purchasing an additional 268,604 shares during the period. 93.06% of the stock is 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.