Kontoor Brands (NYSE:KTB) Given New $110.00 Price Target at UBS Group

Kontoor Brands (NYSE:KTB) had its price target hoisted by investment analysts at UBS Group from $103.00 to $110.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s target price would suggest a potential upside of 34.94% from the company’s current price.

A number of other brokerages have also recently issued reports on KTB. Guggenheim upped their target price on Kontoor Brands from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Stifel Nicolaus downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating and raised their price objective for the stock from $89.00 to $93.00 in a research note on Friday. Wells Fargo & Company increased their price objective on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Barclays upped their target price on shares of Kontoor Brands from $76.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.67.

Kontoor Brands Stock Down 4.8 %

NYSE:KTB traded down $4.11 on Friday, hitting $81.52. 536,480 shares of the company’s stock traded hands, compared to its average volume of 482,548. The company has a market cap of $4.54 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 1.99 and a beta of 1.20. The company has a current ratio of 2.74, a quick ratio of 1.43 and a debt-to-equity ratio of 2.04. The firm has a 50-day moving average price of $77.65 and a 200-day moving average price of $71.15. Kontoor Brands has a 1 year low of $39.90 and a 1 year high of $89.76.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.12. Kontoor Brands had a net margin of 9.35% and a return on equity of 72.43%. The firm had revenue of $670.19 million for the quarter, compared to analyst estimates of $663.45 million. During the same quarter last year, the firm earned $1.22 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities analysts anticipate that Kontoor Brands will post 4.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of KTB. Quest Partners LLC acquired a new stake in Kontoor Brands during the 2nd quarter valued at $27,000. Northwest Investment Counselors LLC acquired a new stake in shares of Kontoor Brands in the third quarter valued at $30,000. Farther Finance Advisors LLC raised its holdings in shares of Kontoor Brands by 242.5% in the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock valued at $32,000 after buying an additional 274 shares during the last quarter. Sound Income Strategies LLC acquired a new position in Kontoor Brands during the 3rd quarter worth about $48,000. Finally, GAMMA Investing LLC grew its holdings in Kontoor Brands by 53.5% during the 3rd quarter. GAMMA Investing LLC now owns 700 shares of the company’s stock worth $57,000 after acquiring an additional 244 shares during the last quarter. 93.06% of the stock is owned by institutional investors and hedge funds.

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.