Stifel Nicolaus Increases Kontoor Brands (NYSE:KTB) Price Target to $80.00

Kontoor Brands (NYSE:KTB) had its price target hoisted by investment analysts at Stifel Nicolaus from $77.00 to $80.00 in a report released on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 18.15% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. The Goldman Sachs Group upped their target price on Kontoor Brands from $68.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Barclays upped their target price on Kontoor Brands from $65.00 to $76.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Finally, UBS Group upped their target price on Kontoor Brands from $83.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Kontoor Brands has a consensus rating of “Moderate Buy” and an average price target of $77.20.

Kontoor Brands Stock Performance

Shares of NYSE KTB opened at $67.71 on Friday. The company has a current ratio of 2.70, a quick ratio of 1.42 and a debt-to-equity ratio of 1.96. The stock has a 50 day simple moving average of $65.93 and a 200-day simple moving average of $61.71. The company has a market cap of $3.78 billion, a PE ratio of 17.14, a P/E/G ratio of 1.83 and a beta of 1.14. Kontoor Brands has a 12-month low of $37.10 and a 12-month high of $74.90.

Kontoor Brands (NYSE:KTB) last released its earnings results on Thursday, May 2nd. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.26. The firm had revenue of $631.20 million during the quarter, compared to the consensus estimate of $607.91 million. Kontoor Brands had a return on equity of 71.45% and a net margin of 8.72%. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.16 earnings per share. On average, equities research analysts forecast that Kontoor Brands will post 4.73 EPS for the current year.

Insider Buying and Selling at Kontoor Brands

In other Kontoor Brands news, CAO Susan Denise Sumner sold 4,713 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $72.36, for a total value of $341,032.68. Following the transaction, the chief accounting officer now owns 15,379 shares of the company’s stock, valued at $1,112,824.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Kontoor Brands news, CEO Scott H. Baxter sold 29,212 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $71.52, for a total transaction of $2,089,242.24. Following the sale, the chief executive officer now directly owns 318,188 shares of the company’s stock, valued at approximately $22,756,805.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Susan Denise Sumner sold 4,713 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $72.36, for a total transaction of $341,032.68. Following the sale, the chief accounting officer now directly owns 15,379 shares in the company, valued at $1,112,824.44. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Kontoor Brands

Several large investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale acquired a new position in shares of Kontoor Brands in the first quarter worth $524,000. Tidal Investments LLC acquired a new position in shares of Kontoor Brands in the first quarter worth $527,000. Price T Rowe Associates Inc. MD increased its stake in shares of Kontoor Brands by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 33,351 shares of the company’s stock worth $2,010,000 after acquiring an additional 2,069 shares during the last quarter. Magnetar Financial LLC acquired a new position in shares of Kontoor Brands in the first quarter worth $1,508,000. Finally, Lazard Asset Management LLC increased its stake in shares of Kontoor Brands by 149.1% in the first quarter. Lazard Asset Management LLC now owns 7,076 shares of the company’s stock worth $426,000 after acquiring an additional 4,235 shares during the last quarter. 93.06% of the stock is owned by institutional investors and hedge funds.

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.