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

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

KTB has been the topic of several other research reports. Barclays upped their price objective 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. Guggenheim lifted their price objective on Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Stifel Nicolaus downgraded Kontoor Brands from a “buy” rating to a “hold” rating and increased their target price for the stock from $89.00 to $93.00 in a research report on Friday. Finally, Wells Fargo & Company lifted their price target on Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Kontoor Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.67.

Kontoor Brands Stock Performance

NYSE:KTB traded down $4.11 during mid-day trading on Friday, reaching $81.52. 536,480 shares of the stock were exchanged, compared to its average volume of 482,548. Kontoor Brands has a 1 year low of $39.90 and a 1 year high of $89.76. The company has a quick ratio of 1.43, a current ratio of 2.74 and a debt-to-equity ratio of 2.04. The company has a 50 day simple moving average of $77.65 and a 200-day simple moving average of $71.15. The stock has a market capitalization of $4.54 billion, a P/E ratio of 19.21, a P/E/G ratio of 1.99 and a beta of 1.20.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Quest Partners LLC bought a new stake in Kontoor Brands in the second quarter valued at $27,000. Northwest Investment Counselors LLC acquired a new stake in shares of Kontoor Brands in the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC boosted 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 acquiring an additional 274 shares in the last quarter. Sound Income Strategies LLC acquired a new stake in Kontoor Brands in the third quarter worth approximately $48,000. Finally, GAMMA Investing LLC boosted its stake in Kontoor Brands by 53.5% during the 3rd quarter. GAMMA Investing LLC now owns 700 shares of the company’s stock valued at $57,000 after purchasing an additional 244 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors.

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.