Wells Fargo & Company Lowers Kontoor Brands (NYSE:KTB) Price Target to $90.00

Kontoor Brands (NYSE:KTB) had its price objective dropped by equities research analysts at Wells Fargo & Company from $100.00 to $90.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 44.67% from the company’s current price.

KTB has been the subject of several other reports. Barclays reduced their price objective on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. UBS Group lowered their price target on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Kontoor Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.50.

Kontoor Brands Trading Up 4.5 %

NYSE:KTB opened at $62.21 on Thursday. The stock has a 50-day simple moving average of $80.66 and a 200-day simple moving average of $82.27. The stock has a market cap of $3.44 billion, a P/E ratio of 14.01, a P/E/G ratio of 2.12 and a beta of 1.23. Kontoor Brands has a 1 year low of $52.95 and a 1 year high of $96.80. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50.

Kontoor Brands (NYSE:KTB) last posted its earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share for the quarter, beating 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 business had revenue of $699.00 million during the quarter, compared to the consensus estimate of $698.07 million. During the same period in the previous year, the business earned $1.28 EPS. The business’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, analysts anticipate that Kontoor Brands will post 4.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in KTB. Jennison Associates LLC raised its position in shares of Kontoor Brands by 73.2% in the 3rd 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 during the period. Marshall Wace LLP raised its position in Kontoor Brands by 97.3% in the fourth quarter. Marshall Wace LLP now owns 579,844 shares of the company’s stock valued at $49,524,000 after purchasing an additional 285,897 shares during the period. Man Group plc grew its stake in shares of Kontoor Brands by 119.1% during the fourth quarter. Man Group plc now owns 466,065 shares of the company’s stock valued at $39,807,000 after acquiring an additional 253,360 shares in the last quarter. Norges Bank acquired a new stake in shares of Kontoor Brands during the fourth quarter valued at about $17,630,000. Finally, Geode Capital Management LLC raised its stake in Kontoor Brands by 16.6% during the fourth quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company’s stock valued at $119,827,000 after buying an additional 199,601 shares in the last quarter. Hedge funds and other 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.