Kontoor Brands (NYSE:KTB) PT Raised to $103.00 at UBS Group

Kontoor Brands (NYSE:KTB) had its price objective hoisted by equities research analysts at UBS Group from $90.00 to $103.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price objective would indicate a potential upside of 23.01% from the stock’s previous close.

KTB has been the topic of several other research reports. Stifel Nicolaus lifted their price target on shares of Kontoor Brands from $80.00 to $89.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Guggenheim lifted their price objective on shares of Kontoor Brands from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Barclays lifted their price target on Kontoor Brands from $76.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.33.

Kontoor Brands Trading Up 0.7 %

KTB opened at $83.73 on Friday. The firm’s fifty day moving average price is $76.28 and its 200 day moving average price is $69.81. The stock has a market capitalization of $4.67 billion, a PE ratio of 21.20, a P/E/G ratio of 2.08 and a beta of 1.20. Kontoor Brands has a 12-month low of $39.90 and a 12-month high of $84.21. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.74 and a quick ratio of 1.43.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.10. Kontoor Brands had a return on equity of 72.43% and a net margin of 9.35%. The firm had revenue of $607.00 million during the quarter, compared to the consensus estimate of $592.97 million. During the same period in the prior year, the business earned $0.77 EPS. The firm’s revenue was down 1.5% on a year-over-year basis. As a group, research analysts expect that Kontoor Brands will post 4.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Kontoor Brands

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vest Financial LLC increased its stake in Kontoor Brands by 16.6% during the third quarter. Vest Financial LLC now owns 19,131 shares of the company’s stock valued at $1,565,000 after acquiring an additional 2,720 shares during the period. Blue Trust Inc. raised its stake in shares of Kontoor Brands by 41.0% in the 3rd quarter. Blue Trust Inc. now owns 2,215 shares of the company’s stock valued at $181,000 after buying an additional 644 shares in the last quarter. Sound Income Strategies LLC bought a new position in shares of Kontoor Brands during the 3rd quarter worth about $48,000. Ritholtz Wealth Management acquired a new stake in shares of Kontoor Brands during the 3rd quarter valued at about $491,000. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its stake in Kontoor Brands by 45.1% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 34,100 shares of the company’s stock valued at $2,789,000 after acquiring an additional 10,600 shares during the period. 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.