Kontoor Brands (NYSE:KTB) Reaches New 1-Year High - Here's Why

Kontoor Brands, Inc. (NYSE:KTB - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $95.25 and last traded at $94.13, with a volume of 66265 shares. The stock had previously closed at $91.59.

Analyst Upgrades and Downgrades

KTB has been the topic of a number of analyst reports. Barclays raised their price target on Kontoor Brands from $83.00 to $100.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. UBS Group boosted their target price on Kontoor Brands from $103.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Stifel Nicolaus lowered shares of Kontoor Brands from a "buy" rating to a "hold" rating and increased their price target for the company from $89.00 to $93.00 in a research note on Friday, November 1st. Wells Fargo & Company raised their price objective on shares of Kontoor Brands from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Finally, Guggenheim upped their target price on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a "buy" rating in a report on Friday, November 1st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $95.00.

Kontoor Brands Trading Down 4.4 %

The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The business's 50-day simple moving average is $88.69 and its 200-day simple moving average is $80.98. The company has a market cap of $5.04 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 2.20 and a beta of 1.20.

Kontoor Brands (NYSE:KTB - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.26 by $0.11. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business had revenue of $670.19 million during the quarter, compared to the consensus estimate of $663.45 million. During the same period in the previous year, the firm posted $1.22 earnings per share. The company's quarterly revenue was up 2.4% compared to the same quarter last year. Research analysts predict that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Insider Transactions at Kontoor Brands

In related news, CEO Scott H. Baxter sold 119,160 shares of the company's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $83.60, for a total transaction of $9,961,776.00. Following the completion of the sale, the chief executive officer now directly owns 331,916 shares of the company's stock, valued at approximately $27,748,177.60. This represents a 26.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On Kontoor Brands

A number of large investors have recently added to or reduced their stakes in KTB. HHM Wealth Advisors LLC acquired a new stake in shares of Kontoor Brands during the fourth quarter worth approximately $29,000. Northwest Investment Counselors LLC acquired a new position in Kontoor Brands during the 3rd quarter worth $30,000. Kennebec Savings Bank bought a new stake in shares of Kontoor Brands in the 3rd quarter worth about $32,000. Farther Finance Advisors LLC raised its stake in shares of Kontoor Brands by 242.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 387 shares of the company's stock valued at $32,000 after purchasing an additional 274 shares in the last quarter. Finally, Fortitude Family Office LLC lifted its position in shares of Kontoor Brands by 407.3% during the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company's stock worth $36,000 after purchasing an additional 334 shares during the last quarter. 93.06% of the stock is owned by institutional investors and hedge funds.

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.