Kontoor Brands (NYSE:KTB) Stock Price Expected to Rise, UBS Group Analyst Says

Kontoor Brands (NYSE:KTB) had its price objective raised by equities researchers at UBS Group from $103.00 to $110.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price target would suggest a potential upside of 34.72% from the stock’s previous close.

KTB has been the subject of several other research reports. Stifel Nicolaus lowered shares of Kontoor Brands from a “buy” rating to a “hold” rating and increased their price target for the stock from $89.00 to $93.00 in a research report on Friday. Guggenheim increased their target price on Kontoor Brands from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Wells Fargo & Company boosted their price target on Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Barclays increased their price objective on Kontoor Brands from $76.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

Kontoor Brands Trading Down 4.6 %

Kontoor Brands stock opened at $81.65 on Friday. Kontoor Brands has a 12 month low of $39.90 and a 12 month high of $89.76. The stock has a market cap of $4.55 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19. The business has a 50 day moving average price of $77.81 and a two-hundred day moving average price of $71.46. The company has a quick ratio of 1.43, a current ratio of 2.50 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB) last issued its earnings results on Thursday, October 31st. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.25 by $0.12. The firm had revenue of $670.19 million during the quarter, compared to analysts’ expectations of $663.45 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. Kontoor Brands’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business earned $1.22 earnings per share. As a group, equities analysts forecast that Kontoor Brands will post 4.8 EPS for the current year.

Hedge Funds Weigh In On Kontoor Brands

A number of institutional investors have recently modified their holdings of the stock. Quest Partners LLC acquired a new stake in shares of Kontoor Brands in the second quarter valued at approximately $27,000. Northwest Investment Counselors LLC acquired a new stake in shares of Kontoor Brands in the 3rd quarter valued at $30,000. Farther Finance Advisors LLC raised its position in shares of Kontoor Brands by 242.5% during the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock worth $32,000 after acquiring an additional 274 shares during the last quarter. Sound Income Strategies LLC acquired a new position in shares of Kontoor Brands during the third quarter valued at $48,000. Finally, GAMMA Investing LLC boosted its holdings in Kontoor Brands by 53.5% in the third quarter. GAMMA Investing LLC now owns 700 shares of the company’s stock valued at $57,000 after acquiring an additional 244 shares during the last quarter. 93.06% of the stock is owned by 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.