Kontoor Brands (NYSE:KTB) Given New $103.00 Price Target at UBS Group

Kontoor Brands (NYSE:KTB - Get Free Report) had its price target lifted by investment analysts at UBS Group from $90.00 to $103.00 in a report released on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. UBS Group's price objective would indicate a potential upside of 22.99% from the company's previous close.

Several other research firms have also issued reports on KTB. Stifel Nicolaus upped their price target on shares of Kontoor Brands from $80.00 to $89.00 and gave the stock a "buy" rating in a research report on Monday, October 7th. Barclays increased their price objective on shares of Kontoor Brands from $76.00 to $83.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. Finally, Guggenheim increased their price objective on shares of Kontoor Brands from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Kontoor Brands currently has an average rating of "Moderate Buy" and a consensus target price of $83.33.

Kontoor Brands Stock Up 0.8 %

KTB traded up $0.63 during trading hours on Friday, hitting $83.75. 517,040 shares of the company's stock were exchanged, compared to its average volume of 482,503. Kontoor Brands has a 1-year low of $39.90 and a 1-year high of $84.21. The stock's 50-day moving average is $76.03 and its two-hundred day moving average is $69.56. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 2.08 and a beta of 1.20. The company has a quick ratio of 1.43, a current ratio of 2.74 and a debt-to-equity ratio of 2.04.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.88 by $0.10. Kontoor Brands had a net margin of 9.35% and a return on equity of 72.43%. The business had revenue of $607.00 million during the quarter, compared to analysts' expectations of $592.97 million. During the same quarter in the prior year, the company posted $0.77 earnings per share. The firm's revenue was down 1.5% on a year-over-year basis. Sell-side analysts predict that Kontoor Brands will post 4.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kontoor Brands

Several institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. grew its stake in Kontoor Brands by 41.0% during the third quarter. Blue Trust Inc. now owns 2,215 shares of the company's stock worth $181,000 after buying an additional 644 shares in the last quarter. Sound Income Strategies LLC acquired a new stake in Kontoor Brands during the third quarter worth about $48,000. Ritholtz Wealth Management acquired a new stake in Kontoor Brands during the third quarter worth about $491,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Kontoor Brands by 45.1% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 34,100 shares of the company's stock worth $2,789,000 after buying an additional 10,600 shares in the last quarter. Finally, Kesler Norman & Wride LLC acquired a new stake in Kontoor Brands during the third quarter worth about $604,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Kontoor Brands Company Profile

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.