UBS Group Boosts Kontoor Brands (NYSE:KTB) Price Target to $103.00

Kontoor Brands (NYSE:KTB) had its price target raised by investment analysts at UBS Group from $90.00 to $103.00 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 indicate a potential upside of 22.62% from the company’s previous close.

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

Kontoor Brands Price Performance

Shares of NYSE:KTB traded up $0.88 on Friday, reaching $84.00. 37,459 shares of the company were exchanged, compared to its average volume of 480,129. The company has a current ratio of 2.74, a quick ratio of 1.43 and a debt-to-equity ratio of 2.04. Kontoor Brands has a 1-year low of $39.90 and a 1-year high of $84.00. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 21.27, a price-to-earnings-growth ratio of 2.08 and a beta of 1.20. The company has a 50-day moving average of $76.03 and a 200-day moving average of $69.56.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of KTB. Mather Group LLC. purchased a new position in shares of Kontoor Brands during the 1st quarter worth about $165,000. Azzad Asset Management Inc. ADV lifted its holdings in shares of Kontoor Brands by 3.2% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 34,834 shares of the company’s stock worth $2,099,000 after acquiring an additional 1,078 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Kontoor Brands by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 278,641 shares of the company’s stock worth $16,788,000 after acquiring an additional 6,949 shares during the period. Commonwealth Equity Services LLC increased its position in Kontoor Brands by 4.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 13,291 shares of the company’s stock worth $801,000 after purchasing an additional 546 shares in the last quarter. Finally, Vest Financial LLC purchased a new position in Kontoor Brands in the first quarter valued at approximately $842,000. 93.06% of the stock is currently owned by hedge funds and other 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.