Kontoor Brands (NYSE:KTB) Price Target Increased to $90.00 by Analysts at Wells Fargo & Company

Kontoor Brands (NYSE:KTB) had its price target upped by stock analysts at Wells Fargo & Company from $80.00 to $90.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 15.49% from the company’s current price.

A number of other analysts have also issued reports on the company. Guggenheim boosted their price objective on Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Barclays upped their target price on Kontoor Brands from $76.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. UBS Group upped their target price on Kontoor Brands from $90.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Stifel Nicolaus upped their target price on Kontoor Brands from $80.00 to $89.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Kontoor Brands currently has an average rating of “Moderate Buy” and a consensus price target of $87.00.

Kontoor Brands Trading Down 0.5 %

NYSE KTB traded down $0.37 during trading hours on Wednesday, hitting $77.93. 36,828 shares of the company’s stock were exchanged, compared to its average volume of 478,546. The stock has a 50-day simple moving average of $76.67 and a 200 day simple moving average of $70.22. Kontoor Brands has a 1-year low of $39.90 and a 1-year high of $84.21. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 2.08 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.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.10. Kontoor Brands had a return on equity of 72.43% and a net margin of 9.35%. The firm had revenue of $607.00 million during the quarter, compared to analysts’ expectations of $592.97 million. During the same quarter last year, the firm posted $0.77 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities analysts forecast that Kontoor Brands will post 4.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Kontoor Brands

Several institutional investors and hedge funds have recently bought and sold shares of KTB. Quest Partners LLC purchased a new position in shares of Kontoor Brands in the second quarter valued at about $27,000. Northwest Investment Counselors LLC purchased a new position in shares of Kontoor Brands in the third quarter valued at about $30,000. Sound Income Strategies LLC purchased a new position in shares of Kontoor Brands in the third quarter valued at about $48,000. GAMMA Investing LLC lifted its position in shares of Kontoor Brands by 53.5% in the third quarter. GAMMA Investing LLC now owns 700 shares of the company’s stock valued at $57,000 after acquiring an additional 244 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of Kontoor Brands by 49.9% in the second quarter. Signaturefd LLC now owns 973 shares of the company’s stock valued at $64,000 after acquiring an additional 324 shares in the last quarter. 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.