Kontoor Brands (NYSE:KTB) Price Target Lowered to $93.00 at Barclays

Kontoor Brands (NYSE:KTB) had its price objective trimmed by Barclays from $100.00 to $93.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities research analysts have also commented on the company. Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and upped their target price for the company from $89.00 to $93.00 in a research report on Friday, November 1st. Guggenheim boosted their price target on Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Company raised their price objective on shares of Kontoor Brands from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Finally, UBS Group lowered their price objective on shares of Kontoor Brands from $112.00 to $108.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.17.

Kontoor Brands Stock Down 8.1 %

Shares of NYSE KTB opened at $68.57 on Wednesday. The company’s 50 day moving average price is $86.43 and its 200-day moving average price is $83.15. 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 52-week low of $52.95 and a 52-week high of $96.80. The company has a market capitalization of $3.78 billion, a P/E ratio of 15.44, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19.

Kontoor Brands (NYSE:KTB) last announced its earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.07. The business had revenue of $699.00 million during the quarter, compared to the consensus estimate of $698.07 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. Kontoor Brands’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.28 earnings per share. Equities analysts forecast that Kontoor Brands will post 4.82 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be issued a $0.52 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.08 annualized dividend and a yield of 3.03%. Kontoor Brands’s payout ratio is currently 46.85%.

Institutional Investors Weigh In On Kontoor Brands

A number of hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in shares of Kontoor Brands by 8,078.0% during the third quarter. International Assets Investment Management LLC now owns 28,623 shares of the company’s stock worth $2,341,000 after purchasing an additional 28,273 shares during the period. Nisa Investment Advisors LLC increased its stake in Kontoor Brands by 0.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 46,432 shares of the company’s stock valued at $3,797,000 after purchasing an additional 375 shares in the last quarter. US Bancorp DE raised its holdings in Kontoor Brands by 24.1% during the third quarter. US Bancorp DE now owns 2,685 shares of the company’s stock worth $220,000 after buying an additional 522 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Kontoor Brands by 242.5% during the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock worth $32,000 after buying an additional 274 shares during the last quarter. Finally, James Investment Research Inc. bought a new position in shares of Kontoor Brands in the third quarter valued at $2,016,000. 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.