UBS Group Issues Pessimistic Forecast for Kontoor Brands (NYSE:KTB) Stock Price

Kontoor Brands (NYSE:KTB) had its price target dropped by analysts at UBS Group from $108.00 to $96.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s target price points to a potential upside of 47.51% from the stock’s current price.

Other equities analysts have also issued reports about the company. Barclays lowered their target price on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday. Guggenheim upped their target price on Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 1st. 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. Finally, Wells Fargo & Company upped their target price on Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $93.17.

Kontoor Brands Stock Down 3.3 %

Shares of Kontoor Brands stock opened at $65.08 on Friday. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The firm has a market cap of $3.60 billion, a P/E ratio of 14.66, a P/E/G ratio of 2.12 and a beta of 1.19. Kontoor Brands has a fifty-two week low of $52.95 and a fifty-two week high of $96.80. The business has a 50-day moving average price of $85.61 and a 200 day moving average price of $83.09.

Kontoor Brands (NYSE:KTB) last posted its earnings results on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.31 by $0.07. The company had revenue of $699.00 million during 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 earned $1.28 earnings per share. On average, sell-side analysts forecast that Kontoor Brands will post 4.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kontoor Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mendel Money Management lifted its position in Kontoor Brands by 2.8% in the fourth quarter. Mendel Money Management now owns 4,934 shares of the company’s stock worth $421,000 after purchasing an additional 135 shares during the period. Janney Montgomery Scott LLC lifted its position in Kontoor Brands by 3.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 4,775 shares of the company’s stock worth $408,000 after purchasing an additional 141 shares during the period. Quadrant Capital Group LLC lifted its position 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 lifted its position in Kontoor Brands by 62.4% in the fourth quarter. Huntington National Bank now owns 385 shares of the company’s stock worth $33,000 after purchasing an additional 148 shares during the period. Finally, GAMMA Investing LLC lifted its position in Kontoor Brands by 26.0% in the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock worth $75,000 after purchasing 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.