Kontoor Brands (NYSE:KTB) Stock Rating Upgraded by Zacks Research

Kontoor Brands (NYSE:KTB) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

Several other analysts have also commented on KTB. Weiss Ratings lowered Kontoor Brands from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, June 15th. Barclays upped their price objective on Kontoor Brands from $93.00 to $96.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. began coverage on shares of Kontoor Brands in a research note on Monday, June 8th. They set an “overweight” rating and a $90.00 price objective on the stock. BTIG Research reaffirmed a “buy” rating and set a $100.00 target price on shares of Kontoor Brands in a report on Friday, May 1st. Finally, Wall Street Zen cut shares of Kontoor Brands from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $91.20.

Kontoor Brands Stock Performance

Shares of Kontoor Brands stock traded up $1.53 during trading on Thursday, hitting $85.69. 439,128 shares of the company’s stock were exchanged, compared to its average volume of 844,463. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 17.35 and a beta of 0.87. The business has a 50-day simple moving average of $75.14 and a 200-day simple moving average of $69.68. Kontoor Brands has a 52-week low of $53.55 and a 52-week high of $88.85. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.10 and a current ratio of 1.87.

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

Insider Buying and Selling at Kontoor Brands

In related news, EVP Jennifer H. Broyles sold 4,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $81.02, for a total value of $324,080.00. Following the transaction, the executive vice president directly owned 40,261 shares of the company’s stock, valued at approximately $3,261,946.22. This trade represents a 9.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kontoor Brands

A number of hedge funds have recently made changes to their positions in KTB. GAMMA Investing LLC boosted its stake in shares of Kontoor Brands by 7.2% in the second quarter. GAMMA Investing LLC now owns 1,991 shares of the company’s stock worth $166,000 after acquiring an additional 134 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in Kontoor Brands by 12.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,436 shares of the company’s stock valued at $88,000 after purchasing an additional 157 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Kontoor Brands by 9.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,795 shares of the company’s stock valued at $110,000 after purchasing an additional 162 shares in the last quarter. Bank of Montreal Can boosted its stake in Kontoor Brands by 1.8% during the 4th 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. Finally, Stifel Financial Corp boosted its stake in Kontoor Brands by 0.8% during the 4th 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. Institutional investors and hedge funds own 93.06% of the company’s stock.

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.