Kontoor Brands (NYSE:KTB) Given New $100.00 Price Target at Barclays

Kontoor Brands (NYSE:KTB) had its target price hoisted by equities researchers at Barclays from $83.00 to $100.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 23.44% from the company’s previous close.

KTB has been the topic of a number of other research reports. Guggenheim raised their price target on Kontoor Brands from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. UBS Group upped their price target on shares of Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Friday. Stifel Nicolaus cut shares of Kontoor Brands from a “buy” rating to a “hold” rating and increased their price target for the stock from $89.00 to $93.00 in a research note on Friday. Finally, Wells Fargo & Company lifted 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. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $91.67.

Kontoor Brands Stock Down 5.4 %

Shares of KTB traded down $4.62 during mid-day trading on Friday, reaching $81.01. The company’s stock had a trading volume of 586,749 shares, compared to its average volume of 482,786. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.74 and a quick ratio of 1.43. Kontoor Brands has a 12-month low of $39.90 and a 12-month high of $89.76. The stock has a market cap of $4.51 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 1.99 and a beta of 1.20. The company’s 50 day moving average is $77.65 and its 200 day moving average is $71.15.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.12. Kontoor Brands had a net margin of 9.35% and a return on equity of 72.43%. The company had revenue of $670.19 million for the quarter, compared to analysts’ expectations of $663.45 million. During the same quarter last year, the company earned $1.22 earnings per share. The firm’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

Hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC boosted its position in Kontoor Brands by 4.3% during the first quarter. Commonwealth Equity Services LLC now owns 13,291 shares of the company’s stock worth $801,000 after purchasing an additional 546 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Kontoor Brands by 12.4% in the 1st quarter. BNP Paribas Financial Markets now owns 54,637 shares of the company’s stock valued at $3,292,000 after acquiring an additional 6,009 shares during the last quarter. Capstone Investment Advisors LLC purchased a new position in Kontoor Brands during the 1st quarter valued at about $2,013,000. Mendel Money Management raised its position in Kontoor Brands by 235.4% during the first quarter. Mendel Money Management now owns 4,580 shares of the company’s stock worth $276,000 after acquiring an additional 7,963 shares during the last quarter. Finally, Texas Permanent School Fund Corp lifted its holdings in shares of Kontoor Brands by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 43,760 shares of the company’s stock valued at $2,637,000 after purchasing an additional 567 shares in the last quarter. 93.06% of the stock is 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.