Kontoor Brands (NYSE:KTB – Get Free Report) had its price target boosted by equities researchers at Stifel Nicolaus from $80.00 to $89.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 12.35% from the company’s current price.
Other research analysts also recently issued research reports about the stock. Guggenheim increased their price objective on shares of Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Barclays increased their price target on shares of Kontoor Brands from $76.00 to $83.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.33.
Check Out Our Latest Report on KTB
Kontoor Brands Trading Down 1.0 %
Kontoor Brands (NYSE:KTB – Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.10. The business had revenue of $607.00 million for the quarter, compared to analyst estimates of $592.97 million. Kontoor Brands had a net margin of 9.35% and a return on equity of 72.43%. The company’s revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 EPS. Analysts forecast that Kontoor Brands will post 4.8 EPS for the current fiscal year.
Institutional Investors Weigh In On Kontoor Brands
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in Kontoor Brands by 53.5% during the 3rd quarter. GAMMA Investing LLC now owns 700 shares of the company’s stock valued at $57,000 after buying an additional 244 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Kontoor Brands by 55.6% during the 3rd quarter. SG Americas Securities LLC now owns 5,516 shares of the company’s stock valued at $451,000 after buying an additional 1,972 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Kontoor Brands by 20.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,756 shares of the company’s stock valued at $182,000 after buying an additional 461 shares in the last quarter. Creative Planning lifted its holdings in Kontoor Brands by 13.0% during the 2nd quarter. Creative Planning now owns 27,396 shares of the company’s stock valued at $1,812,000 after buying an additional 3,149 shares in the last quarter. Finally, Algert Global LLC purchased a new position in Kontoor Brands during the 2nd quarter valued at about $334,000. Institutional investors 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.
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