Kontoor Brands (NYSE:KTB) Trading Down 6.7% – What’s Next?

Kontoor Brands, Inc. (NYSE:KTB)’s stock price was down 6.7% on Monday . The company traded as low as $86.16 and last traded at $85.67. Approximately 115,104 shares traded hands during trading, a decline of 73% from the average daily volume of 431,573 shares. The stock had previously closed at $91.85.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Barclays lifted their target price on shares of Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Stifel Nicolaus downgraded Kontoor Brands from a “buy” rating to a “hold” rating and boosted their price objective for the company from $89.00 to $93.00 in a report on Friday, November 1st. Wells Fargo & Company raised their target price on Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Guggenheim boosted their price target on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, UBS Group increased their price target on shares of Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Kontoor Brands presently has a consensus rating of “Moderate Buy” and an average target price of $95.00.

Kontoor Brands Stock Up 2.5 %

The business has a 50-day simple moving average of $88.55 and a 200-day simple moving average of $81.46. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 2.18 and a beta of 1.19.

Institutional Trading of Kontoor Brands

Hedge funds have recently added to or reduced their stakes in the company. Jennison Associates LLC increased 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 valued at $61,942,000 after purchasing an additional 320,117 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Kontoor Brands during the third quarter worth $8,479,000. Barclays PLC increased its holdings in Kontoor Brands by 316.3% in the third quarter. Barclays PLC now owns 101,522 shares of the company’s stock valued at $8,303,000 after buying an additional 77,137 shares during the last quarter. LMR Partners LLP acquired a new stake in Kontoor Brands in the third quarter valued at $4,799,000. Finally, Pacer Advisors Inc. raised its stake in Kontoor Brands by 2.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company’s stock valued at $152,564,000 after buying an additional 44,287 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.

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.