Kontoor Brands (NYSE:KTB) Price Target Raised to $77.00 at The Goldman Sachs Group

Kontoor Brands (NYSE:KTB) had its price objective lifted by equities research analysts at The Goldman Sachs Group from $68.00 to $77.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 17.29% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. Barclays boosted their price objective on Kontoor Brands from $65.00 to $76.00 and gave the stock an “overweight” rating in a research note on Friday. UBS Group boosted their target price on shares of Kontoor Brands from $83.00 to $85.00 and gave the company a “buy” rating in a report on Friday, February 16th. Finally, Edward Jones downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating in a report on Friday, January 26th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $75.20.

Kontoor Brands Price Performance

Shares of Kontoor Brands stock traded down $1.72 on Friday, hitting $65.65. The company’s stock had a trading volume of 1,008,480 shares, compared to its average volume of 581,672. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.38 and a current ratio of 2.66. Kontoor Brands has a 1 year low of $37.10 and a 1 year high of $69.69. The firm has a fifty day moving average price of $59.10 and a 200-day moving average price of $57.18. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 1.65 and a beta of 1.11.

Kontoor Brands (NYSE:KTB) last announced its earnings results on Thursday, May 2nd. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.26. The business had revenue of $631.20 million during the quarter, compared to analysts’ expectations of $607.91 million. Kontoor Brands had a return on equity of 76.30% and a net margin of 8.86%. The business’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.16 earnings per share. As a group, sell-side analysts anticipate that Kontoor Brands will post 4.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Kontoor Brands in the 4th quarter valued at about $25,000. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Kontoor Brands by 5,710.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 581 shares of the company’s stock valued at $26,000 after purchasing an additional 571 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of Kontoor Brands during the 4th quarter worth $32,000. Oakworth Capital Inc. increased its holdings in Kontoor Brands by 157.8% in the fourth quarter. Oakworth Capital Inc. now owns 781 shares of the company’s stock valued at $49,000 after buying an additional 478 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in Kontoor Brands by 121.4% in the third quarter. Jones Financial Companies Lllp now owns 1,304 shares of the company’s stock valued at $57,000 after buying an additional 715 shares during the last quarter. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

About Kontoor Brands

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.