Kontoor Brands’ (KTB) “Buy” Rating Reaffirmed at BTIG Research

Kontoor Brands (NYSE:KTB)‘s stock had its “buy” rating reissued by analysts at BTIG Research in a report issued on Tuesday, Benzinga reports. They currently have a $105.00 target price on the stock. BTIG Research’s target price would indicate a potential upside of 55.54% from the stock’s current price.

A number of other equities research analysts have also weighed in on the company. Wells Fargo & Company lifted their target price on Kontoor Brands from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Zacks Research raised Kontoor Brands from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 9th. Barclays raised their price target on Kontoor Brands from $96.00 to $99.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. Weiss Ratings downgraded Kontoor Brands from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, September 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on Kontoor Brands from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $95.00.

Kontoor Brands Stock Performance

Shares of NYSE:KTB opened at $67.51 on Tuesday. The firm has a market cap of $3.69 billion, a PE ratio of 14.09 and a beta of 0.87. The firm’s 50 day simple moving average is $80.23 and its 200-day simple moving average is $75.29. Kontoor Brands has a one year low of $56.19 and a one year high of $88.96. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.99 and a current ratio of 1.83.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.01. The firm had revenue of $584.29 million during the quarter, compared to the consensus estimate of $586.95 million. Kontoor Brands had a net margin of 8.21% and a return on equity of 59.71%. The company’s revenue was down 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 earnings per share. Kontoor Brands has set its FY 2026 guidance at 5.250-5.350 EPS. As a group, equities analysts predict that Kontoor Brands will post 5.27 EPS for the current year.

Insider Buying and Selling

In related news, CEO Scott H. Baxter sold 184,403 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $83.40, for a total transaction of $15,379,210.20. Following the completion of the sale, the chief executive officer owned 261,786 shares of the company’s stock, valued at $21,832,952.40. This represents a 41.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Thomas L. Doerr, Jr. sold 7,660 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $83.43, for a total transaction of $639,073.80. Following the completion of the sale, the executive vice president owned 25,063 shares of the company’s stock, valued at approximately $2,091,006.09. This trade represents a 23.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Kontoor Brands

A number of large investors have recently made changes to their positions in KTB. Global Retirement Partners LLC purchased a new stake in shares of Kontoor Brands during the 2nd quarter valued at $26,000. CENTRAL TRUST Co purchased a new position in Kontoor Brands during the 1st quarter worth $35,000. Bell Investment Advisors Inc purchased a new position in Kontoor Brands during the 2nd quarter worth $42,000. Hantz Financial Services Inc. increased its position in Kontoor Brands by 196.2% during the 4th quarter. Hantz Financial Services Inc. now owns 551 shares of the company’s stock valued at $34,000 after buying an additional 365 shares in the last quarter. Finally, Harbor Investment Advisory LLC acquired a new position in Kontoor Brands during the 2nd quarter valued at about $61,000. 93.06% of the stock is owned by institutional investors and hedge funds.

About Kontoor Brands

Kontoor Brands, Inc (NYSE: KTB) is a global lifestyle apparel company that designs, manufactures, sources and markets branded clothing and accessories. The company is best known for its denim and casualwear businesses, serving consumers through wholesale distributors, department and specialty stores, company-operated retail locations and e-commerce channels.

Kontoor’s principal brands include Wrangler, a heritage brand focused on denim, westernwear, workwear and casual apparel, and Lee, which offers denim and lifestyle clothing for men, women and children.