Kontoor Brands (NYSE:KTB) Given New $100.00 Price Target at Wells Fargo & Company

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 increased by investment analysts at Wells Fargo & Company from $90.00 to $100.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's target price suggests a potential upside of 29.13% from the company's previous close.

A number of other equities analysts have also recently commented on KTB. UBS Group lifted their target price on shares of Kontoor Brands from $92.00 to $99.00 and gave the stock a "buy" rating in a research report 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 report on Tuesday, June 10th. Stifel Nicolaus boosted their price objective on shares of Kontoor Brands from $72.00 to $73.00 and gave the company a "hold" rating in a research report on Friday, August 8th. Barclays reiterated an "overweight" rating and set a $91.00 price target (up previously from $86.00) on shares of Kontoor Brands in a research report on Friday, August 8th. Finally, Wall Street Zen upgraded shares of Kontoor Brands from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Kontoor Brands currently has an average rating of "Moderate Buy" and a consensus price target of $91.33.

Kontoor Brands Stock Performance

Kontoor Brands stock opened at $77.44 on Thursday. The firm's fifty day moving average price is $69.21 and its 200-day moving average price is $66.12. 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 stock has a market cap of $4.30 billion, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 1.80 and a beta of 1.10. Kontoor Brands has a fifty-two week low of $50.00 and a fifty-two week high of $96.80.

Kontoor Brands (NYSE:KTB - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $0.86 by $0.35. The company had revenue of $658.26 million for the quarter, compared to analysts' expectations of $632.97 million. Kontoor Brands had a net margin of 9.48% and a return on equity of 68.76%. The firm's revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 EPS. 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, equities research analysts expect that Kontoor Brands will post 4.82 earnings per share for the current fiscal year.

Institutional Trading of Kontoor Brands

A number of hedge funds and other institutional investors have recently modified their holdings of KTB. JPMorgan Chase & Co. increased its stake in shares of Kontoor Brands by 69.3% in the second quarter. JPMorgan Chase & Co. now owns 2,553,092 shares of the company's stock worth $168,428,000 after purchasing an additional 1,044,921 shares in the last quarter. Norges Bank purchased a new position in Kontoor Brands during the second quarter valued at $45,762,000. Invesco Ltd. grew its stake in Kontoor Brands by 54.2% during the second quarter. Invesco Ltd. now owns 1,241,839 shares of the company's stock valued at $81,924,000 after acquiring an additional 436,246 shares in the last quarter. Nuveen LLC purchased a new position in Kontoor Brands during the first quarter valued at $19,837,000. Finally, Balyasny Asset Management L.P. grew its stake in Kontoor Brands by 134.3% during the second quarter. Balyasny Asset Management L.P. now owns 468,630 shares of the company's stock valued at $30,916,000 after acquiring an additional 268,604 shares in the last quarter. 93.06% of the stock is owned by hedge funds and other institutional investors.

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.

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