Short Interest in Kontoor Brands, Inc. (NYSE:KTB) Decreases By 6.8%

Kontoor Brands, Inc. (NYSE:KTBGet Free Report) was the recipient of a large decline in short interest during the month of January. As of January 15th, there was short interest totalling 2,730,000 shares, a decline of 6.8% from the December 31st total of 2,930,000 shares. Based on an average daily volume of 464,800 shares, the days-to-cover ratio is currently 5.9 days. Currently, 4.9% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on KTB. Barclays raised shares of Kontoor Brands from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $47.00 to $59.00 in a research note on Monday, November 6th. Edward Jones cut Kontoor Brands from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Wells Fargo & Company lifted their price target on Kontoor Brands from $56.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, December 22nd. The Goldman Sachs Group lifted their price target on Kontoor Brands from $60.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, December 14th. Finally, Stifel Nicolaus lifted their price target on Kontoor Brands from $60.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, December 14th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $63.57.

Check Out Our Latest Stock Report on KTB

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. grew its stake in shares of Kontoor Brands by 7.3% in the first quarter. Advisor Group Holdings Inc. now owns 6,135 shares of the company’s stock worth $295,000 after purchasing an additional 418 shares in the last quarter. Raymond James & Associates boosted its stake in Kontoor Brands by 8.1% during the first quarter. Raymond James & Associates now owns 24,441 shares of the company’s stock valued at $1,011,000 after buying an additional 1,821 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Kontoor Brands by 4.3% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,700 shares of the company’s stock valued at $442,000 after buying an additional 439 shares in the last quarter. Citigroup Inc. boosted its stake in Kontoor Brands by 3.5% during the first quarter. Citigroup Inc. now owns 45,858 shares of the company’s stock valued at $1,895,000 after buying an additional 1,561 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Kontoor Brands by 2.1% during the first quarter. Bank of Montreal Can now owns 17,999 shares of the company’s stock valued at $771,000 after buying an additional 362 shares in the last quarter.

Kontoor Brands Stock Performance

Shares of KTB opened at $60.30 on Wednesday. The business’s 50 day moving average is $58.18 and its two-hundred day moving average is $50.00. Kontoor Brands has a 52-week low of $37.10 and a 52-week high of $63.96. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.48 and a beta of 1.15. The company has a quick ratio of 1.10, a current ratio of 2.65 and a debt-to-equity ratio of 2.21.

Kontoor Brands (NYSE:KTBGet Free Report) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.09. The business had revenue of $654.54 million for the quarter, compared to analyst estimates of $642.70 million. Kontoor Brands had a return on equity of 75.07% and a net margin of 8.01%. Analysts forecast that Kontoor Brands will post 4.51 EPS for the current fiscal year.

Kontoor Brands Company Profile

(Get Free Report)

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. It licenses and sells apparel under the Rock & Republic brad name. The company sells its products primarily through mass merchants, specialty stores, mid-tier and traditional department stores, company-operated stores, and online.

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