Kontoor Brands (NYSE:KTB) Price Target Cut to $90.00 by Analysts at Wells Fargo & Company

Kontoor Brands (NYSE:KTB - Get Free Report) had its target price reduced by Wells Fargo & Company from $100.00 to $90.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's target price would indicate a potential upside of 44.67% from the company's current price.

Several other equities analysts have also issued reports on KTB. UBS Group dropped their price objective on 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 price objective on 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 given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $91.50.

Kontoor Brands Price Performance

Shares of KTB stock traded up $2.70 during trading hours on Thursday, reaching $62.21. The company had a trading volume of 1,056,790 shares, compared to its average volume of 481,707. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. The stock has a fifty day moving average of $80.66 and a 200-day moving average of $82.33. The company 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. Kontoor Brands has a 12-month low of $52.95 and a 12-month high of $96.80.

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Kontoor Brands (NYSE:KTB - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.07. The business 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 business earned $1.28 earnings per share. On average, equities analysts anticipate that Kontoor Brands will post 4.82 earnings per share for the current year.

Institutional Investors Weigh In On Kontoor Brands

Hedge funds have recently made changes to their positions in the business. HHM Wealth Advisors LLC acquired a new stake in Kontoor Brands in the fourth quarter valued at about $29,000. Farther Finance Advisors LLC lifted its position in Kontoor Brands by 242.5% in the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company's stock valued at $32,000 after purchasing an additional 274 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 valued at $33,000 after purchasing an additional 148 shares during the period. Fortitude Family Office LLC lifted its position 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 purchasing an additional 334 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in Kontoor Brands by 229.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company's stock valued at $62,000 after purchasing an additional 503 shares during the period. Institutional investors and hedge funds own 93.06% of the company's stock.

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.