Robert W. Baird Begins Coverage on Kontoor Brands (NYSE:KTB)

Key Points

• Robert W. Baird has initiated coverage on Kontoor Brands (NYSE: KTB) with an "outperform" rating and a price target of $105.00, indicating a potential upside of 21.73% from the previous close.
• Several analysts have also raised their price targets for KTB, with UBS Group increasing its target to $114.00 and Wells Fargo raising it to $100.00, reflecting a positive outlook for the company.
• KTB stock recently opened at $86.26 and reported strong quarterly earnings, beating expectations with $1.21 earnings per share against an estimate of $0.86.

Equities research analysts at Robert W. Baird assumed coverage on shares of Kontoor Brands (NYSE:KTB - Get Free Report) in a report released on Friday,Benzinga reports. The firm set an "outperform" rating and a $105.00 price target on the stock. Robert W. Baird's target price suggests a potential upside of 21.73% from the company's previous close.

Several other equities analysts have also commented on KTB. UBS Group upped their price target on shares of Kontoor Brands from $99.00 to $114.00 and gave the stock a "buy" rating in a research report on Wednesday. Barclays restated 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. Wells Fargo & Company upped their price target on shares of Kontoor Brands from $90.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday, September 11th. 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. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Kontoor Brands in a research report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $95.38.

Kontoor Brands Stock Up 2.0%

KTB stock opened at $86.26 on Friday. The company has a debt-to-equity ratio of 2.74, a current ratio of 2.18 and a quick ratio of 0.95. Kontoor Brands has a 1-year low of $50.00 and a 1-year high of $96.80. The firm has a fifty day moving average price of $78.03 and a two-hundred day moving average price of $69.07. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 1.94 and a beta of 1.15.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $1.21 earnings per share for the quarter, beating 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 analyst estimates of $632.97 million. During the same quarter in the previous year, the firm earned $0.98 earnings per share. The firm's revenue for the quarter 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. Research analysts predict that Kontoor Brands will post 4.82 EPS for the current year.

Institutional Investors Weigh In On Kontoor Brands

A number of institutional investors and hedge funds have recently bought and sold shares of KTB. JPMorgan Chase & Co. increased its position 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 acquiring an additional 1,044,921 shares in the last quarter. Norges Bank purchased a new position in shares of Kontoor Brands in the second quarter worth approximately $45,762,000. Invesco Ltd. lifted its position in shares of Kontoor Brands by 54.2% in the second 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 in the last quarter. Nuveen LLC purchased a new stake in shares of Kontoor Brands in the first quarter worth approximately $19,837,000. Finally, Balyasny Asset Management L.P. lifted its position in shares of Kontoor Brands by 134.3% in the second 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 in the last quarter. 93.06% of the stock is owned by institutional investors and hedge funds.

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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