Kontoor Brands (NYSE:KTB) PT Set at $85.00 by The Goldman Sachs Group

Kontoor Brands (NYSE:KTB) has been given a $85.00 price objective by equities research analysts at The Goldman Sachs Group in a note issued to investors on Tuesday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 28.80% from the company’s previous close.

A number of other brokerages also recently issued reports on KTB. Stifel Nicolaus reduced their price objective on Kontoor Brands from $83.00 to $72.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. UBS Group upped their price target on Kontoor Brands from $83.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Wells Fargo & Company upped their price target on Kontoor Brands from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, May 14th. Finally, Barclays upped their price target on Kontoor Brands from $75.00 to $86.00 and gave the company an “overweight” rating in a research report on Tuesday, May 20th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Kontoor Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.50.

Kontoor Brands Stock Down 3.4%

Shares of NYSE:KTB opened at $65.99 on Tuesday. The company has a market capitalization of $3.67 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 2.12 and a beta of 1.16. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The business has a fifty day moving average price of $64.51 and a two-hundred day moving average price of $74.96. Kontoor Brands has a 1 year low of $50.00 and a 1 year high of $96.80.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.04. The firm had revenue of $622.90 million during the quarter, compared to the consensus estimate of $625.44 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 EPS. Analysts forecast that Kontoor Brands will post 4.82 earnings per share for the current year.

Institutional Trading of Kontoor Brands

A number of institutional investors have recently added to or reduced their stakes in the stock. Hodges Capital Management Inc. lifted its holdings in Kontoor Brands by 28.9% during the 1st quarter. Hodges Capital Management Inc. now owns 49,000 shares of the company’s stock worth $3,142,000 after purchasing an additional 11,000 shares in the last quarter. Strs Ohio purchased a new stake in Kontoor Brands during the 1st quarter worth about $1,109,000. Intech Investment Management LLC lifted its holdings in Kontoor Brands by 69.1% during the 1st quarter. Intech Investment Management LLC now owns 46,189 shares of the company’s stock worth $2,962,000 after purchasing an additional 18,869 shares in the last quarter. Jane Street Group LLC lifted its holdings in Kontoor Brands by 128.0% during the 1st quarter. Jane Street Group LLC now owns 97,002 shares of the company’s stock worth $6,221,000 after purchasing an additional 54,448 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Kontoor Brands by 6.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 145,808 shares of the company’s stock worth $9,351,000 after purchasing an additional 8,660 shares in the last quarter. Hedge funds and other institutional investors own 93.06% of the company’s stock.

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.