Kontoor Brands (NYSE:KTB) Rating Lowered to Strong Sell at Zacks Research

Kontoor Brands (NYSE:KTB) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. BTIG Research reiterated a “buy” rating and set a $100.00 price objective on shares of Kontoor Brands in a report on Friday, May 1st. JPMorgan Chase & Co. assumed coverage on shares of Kontoor Brands in a report on Monday. They set an “overweight” rating and a $90.00 price objective for the company. Barclays lifted their price objective on shares of Kontoor Brands from $93.00 to $96.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Weiss Ratings upgraded shares of Kontoor Brands from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 15th. Finally, The Goldman Sachs Group lifted their price objective on shares of Kontoor Brands from $84.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Kontoor Brands has a consensus rating of “Moderate Buy” and a consensus price target of $91.20.

Kontoor Brands Trading Up 6.0%

KTB opened at $80.48 on Wednesday. Kontoor Brands has a 1-year low of $53.55 and a 1-year high of $87.00. The company has a current ratio of 1.87, a quick ratio of 1.10 and a debt-to-equity ratio of 1.83. The company has a market cap of $4.45 billion, a P/E ratio of 16.29 and a beta of 0.89. The company has a fifty day moving average price of $71.45 and a two-hundred day moving average price of $68.10.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.11). Kontoor Brands had a net margin of 8.30% and a return on equity of 60.17%. The company had revenue of $613.32 million during the quarter, compared to the consensus estimate of $784.76 million. During the same period last year, the firm posted $1.20 earnings per share. The company’s revenue for the quarter was up 45.0% on a year-over-year basis. Kontoor Brands has set its FY 2026 guidance at 6.600-6.700 EPS. Analysts predict that Kontoor Brands will post 5.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted its holdings in Kontoor Brands by 12.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,436 shares of the company’s stock worth $88,000 after purchasing an additional 157 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Kontoor Brands by 9.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,795 shares of the company’s stock worth $110,000 after purchasing an additional 162 shares during the last quarter. Bank of Montreal Can boosted its holdings in Kontoor Brands by 1.8% during the fourth quarter. Bank of Montreal Can now owns 9,297 shares of the company’s stock worth $568,000 after purchasing an additional 164 shares during the last quarter. Savant Capital LLC boosted its holdings in Kontoor Brands by 2.7% during the third quarter. Savant Capital LLC now owns 7,494 shares of the company’s stock worth $598,000 after purchasing an additional 199 shares during the last quarter. Finally, Stifel Financial Corp boosted its holdings in Kontoor Brands by 0.8% during the fourth quarter. Stifel Financial Corp now owns 24,710 shares of the company’s stock worth $1,510,000 after purchasing an additional 199 shares during the last quarter. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Kontoor Brands Company Profile

Kontoor Brands, Inc is a global apparel company best known for its Wrangler and Lee denim and lifestyle brands. Established as an independent, publicly traded company in May 2019 following a spin-off from VF Corporation, Kontoor leverages a legacy that dates back to 1889 with the founding of Lee and to 1947 with the introduction of the Wrangler brand. The company focuses on designing, manufacturing and distributing premium, casual and workwear apparel, including jeans, pants, shorts, shirts, jackets and complementary accessories.

Kontoor Brands operates a diversified sales model that combines wholesale partnerships with leading retailers, distribution through e-commerce channels and select direct-to-consumer formats.