BTIG Research Reaffirms “Buy” Rating for Kontoor Brands (NYSE:KTB)

Kontoor Brands (NYSE:KTB)‘s stock had its “buy” rating reiterated by stock analysts at BTIG Research in a research note issued to investors on Friday,Benzinga reports. They presently have a $100.00 target price on the stock. BTIG Research’s price target indicates a potential upside of 36.00% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. UBS Group increased their price objective on shares of Kontoor Brands from $118.00 to $131.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Stifel Nicolaus increased their price objective on shares of Kontoor Brands from $75.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, March 3rd. Wall Street Zen upgraded shares of Kontoor Brands from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 18th. The Goldman Sachs Group upped their target price on shares of Kontoor Brands from $84.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Finally, Jefferies Financial Group began coverage on shares of Kontoor Brands in a report on Wednesday, February 4th. They set a “hold” rating and a $65.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Kontoor Brands currently has an average rating of “Moderate Buy” and an average target price of $91.00.

Kontoor Brands Trading Up 2.1%

Shares of NYSE KTB opened at $73.53 on Friday. The company has a market cap of $4.06 billion, a PE ratio of 18.16 and a beta of 1.05. The firm’s 50 day moving average price is $70.84 and its 200-day moving average price is $69.66. Kontoor Brands has a 52-week low of $53.55 and a 52-week high of $87.00. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.87 and a current ratio of 1.82.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.08. Kontoor Brands had a net margin of 7.22% and a return on equity of 62.02%. The company’s revenue was up 45.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.38 EPS. Kontoor Brands has set its FY 2026 guidance at 6.400-6.500 EPS. On average, equities research analysts expect that Kontoor Brands will post 6.46 EPS for the current fiscal year.

Institutional Trading of Kontoor Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KTB. CWM LLC increased its stake in shares of Kontoor Brands by 4.0% in the third quarter. CWM LLC now owns 4,069 shares of the company’s stock worth $325,000 after purchasing an additional 157 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Kontoor Brands by 12.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,436 shares of the company’s stock worth $88,000 after purchasing an additional 157 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Kontoor Brands by 9.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,795 shares of the company’s stock worth $110,000 after purchasing an additional 162 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Kontoor Brands by 1.8% during the fourth quarter. Bank of Montreal Can now owns 9,297 shares of the company’s stock worth $568,000 after acquiring an additional 164 shares during the last quarter. Finally, Savant Capital LLC boosted its position in shares of Kontoor Brands by 2.7% during the third quarter. Savant Capital LLC now owns 7,494 shares of the company’s stock worth $598,000 after acquiring an additional 199 shares during the last quarter. 93.06% of the stock is owned by hedge funds and other institutional investors.

Kontoor Brands Company Profile

Kontoor Brands, Inc is a global apparel company best known for its Wrangler and Lee denim and lifestyle brands. Established as an independent, publicly traded company in May 2019 following a spin-off from VF Corporation, Kontoor leverages a legacy that dates back to 1889 with the founding of Lee and to 1947 with the introduction of the Wrangler brand. The company focuses on designing, manufacturing and distributing premium, casual and workwear apparel, including jeans, pants, shorts, shirts, jackets and complementary accessories.

Kontoor Brands operates a diversified sales model that combines wholesale partnerships with leading retailers, distribution through e-commerce channels and select direct-to-consumer formats.