Barclays Has Lowered Expectations for Kontoor Brands (NYSE:KTB) Stock Price

Kontoor Brands (NYSE:KTB) had its target price dropped by stock analysts at Barclays from $100.00 to $93.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 37.77% from the stock’s previous close.

Several other research analysts have also commented on the stock. UBS Group decreased their price target on shares of Kontoor Brands from $112.00 to $108.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and upped their target price for the company from $89.00 to $93.00 in a report on Friday, November 1st. Guggenheim increased their price target on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company boosted their price objective on Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Kontoor Brands has an average rating of “Moderate Buy” and a consensus price target of $95.17.

Kontoor Brands Trading Down 1.4 %

Shares of NYSE KTB opened at $67.50 on Wednesday. The stock has a market capitalization of $3.72 billion, a P/E ratio of 15.20, a PEG ratio of 2.12 and a beta of 1.19. The stock’s 50 day moving average price is $86.05 and its two-hundred day moving average price is $83.04. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. Kontoor Brands has a 52-week low of $52.95 and a 52-week high of $96.80.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.07. The business had revenue of $699.00 million for the quarter, compared to analyst estimates of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.28 EPS. On average, analysts anticipate that Kontoor Brands will post 4.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kontoor Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mendel Money Management boosted its position in Kontoor Brands by 2.8% during the 4th quarter. Mendel Money Management now owns 4,934 shares of the company’s stock worth $421,000 after acquiring an additional 135 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Kontoor Brands by 3.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 4,775 shares of the company’s stock valued at $408,000 after purchasing an additional 141 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in Kontoor Brands by 14.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,177 shares of the company’s stock worth $101,000 after purchasing an additional 145 shares during the period. Huntington National Bank grew its position in Kontoor Brands by 62.4% in the 4th quarter. Huntington National Bank now owns 385 shares of the company’s stock valued at $33,000 after buying an additional 148 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Kontoor Brands by 26.0% during the 4th quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock valued at $75,000 after buying an additional 182 shares during the period. 93.06% of the stock is owned by 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.