Kontoor Brands (NYSE:KTB) Given New $96.00 Price Target at UBS Group

Kontoor Brands (NYSE:KTB) had its target price reduced by analysts at UBS Group from $108.00 to $96.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price target would indicate a potential upside of 47.33% from the company’s current price.

A number of other equities analysts have also commented on the stock. Stifel Nicolaus lowered shares of Kontoor Brands from a “buy” rating to a “hold” rating and lifted their price target for the company from $89.00 to $93.00 in a research report on Friday, November 1st. Guggenheim lifted their target price on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company upped their price target on shares of Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Finally, Barclays lowered their price target on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.17.

Kontoor Brands Stock Down 3.1 %

Shares of KTB stock traded down $2.11 on Friday, hitting $65.16. The company’s stock had a trading volume of 245,453 shares, compared to its average volume of 644,736. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 14.67, a P/E/G ratio of 2.12 and a beta of 1.19. Kontoor Brands has a fifty-two week low of $52.95 and a fifty-two week high of $96.80. The firm’s fifty day moving average price is $86.05 and its 200-day moving average price is $83.04.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.07. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The company had revenue of $699.00 million during the quarter, compared to the consensus estimate of $698.07 million. During the same quarter in the prior year, the company posted $1.28 EPS. The firm’s revenue was up 4.4% on a year-over-year basis. Research analysts anticipate that Kontoor Brands will post 4.82 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Jennison Associates LLC grew its position in Kontoor Brands by 73.2% during the third quarter. Jennison Associates LLC now owns 757,426 shares of the company’s stock worth $61,942,000 after buying an additional 320,117 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Kontoor Brands by 97.3% in the 4th quarter. Marshall Wace LLP now owns 579,844 shares of the company’s stock worth $49,524,000 after acquiring an additional 285,897 shares during the period. Man Group plc grew its holdings in shares of Kontoor Brands by 119.1% during the 4th quarter. Man Group plc now owns 466,065 shares of the company’s stock worth $39,807,000 after purchasing an additional 253,360 shares in the last quarter. Norges Bank bought a new stake in shares of Kontoor Brands during the fourth quarter valued at approximately $17,630,000. Finally, Geode Capital Management LLC raised its stake in shares of Kontoor Brands by 16.6% in the fourth quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company’s stock valued at $119,827,000 after purchasing an additional 199,601 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.

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.