Wells Fargo & Company Has Lowered Expectations for Kontoor Brands (NYSE:KTB) Stock Price

Kontoor Brands (NYSE:KTB - Get Free Report) had its target price decreased by stock analysts at Wells Fargo & Company from $100.00 to $90.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price target would suggest a potential upside of 44.67% from the company's previous close.

Several other equities analysts have also issued reports on the stock. UBS Group dropped their target price on shares of Kontoor Brands from $108.00 to $96.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Barclays dropped their target price on shares of Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.50.

Kontoor Brands Trading Up 4.5 %

Shares of NYSE:KTB traded up $2.70 during mid-day trading on Thursday, reaching $62.21. 1,056,790 shares of the company's stock were exchanged, compared to its average volume of 502,839. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 2.12 and a beta of 1.23. The business's fifty day moving average price is $80.66 and its 200-day moving average price is $82.27. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. Kontoor Brands has a twelve month low of $52.95 and a twelve month high of $96.80.

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Kontoor Brands (NYSE:KTB - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, topping analysts' consensus estimates of $1.31 by $0.07. The company had revenue of $699.00 million for the quarter, compared to analyst estimates of $698.07 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. Kontoor Brands's revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.28 earnings per share. On average, research analysts predict that Kontoor Brands will post 4.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Kontoor Brands

A number of institutional investors have recently added to or reduced their stakes in KTB. Sanctuary Advisors LLC purchased a new position in Kontoor Brands in the third quarter valued at about $332,000. Janus Henderson Group PLC boosted its stake in Kontoor Brands by 31.4% in the third quarter. Janus Henderson Group PLC now owns 47,474 shares of the company's stock valued at $3,883,000 after acquiring an additional 11,337 shares during the last quarter. Fortitude Family Office LLC boosted its stake in Kontoor Brands by 407.3% in the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company's stock valued at $36,000 after acquiring an additional 334 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Kontoor Brands by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 261,022 shares of the company's stock valued at $22,294,000 after acquiring an additional 7,445 shares during the last quarter. Finally, Natixis Advisors LLC boosted its stake in Kontoor Brands by 6.7% in the third quarter. Natixis Advisors LLC now owns 17,383 shares of the company's stock valued at $1,422,000 after acquiring an additional 1,087 shares during the last quarter. 93.06% of the stock is owned by institutional investors.

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.