Kontoor Brands (NYSE:KTB) Coverage Initiated at JPMorgan Chase & Co.

Equities research analysts at JPMorgan Chase & Co. assumed coverage on shares of Kontoor Brands (NYSE:KTB) in a report issued on Monday,Benzinga reports. The firm set an “overweight” rating and a $90.00 price target on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 28.43% from the company’s current price.

A number of other research analysts have also recently commented on the stock. Zacks Research cut shares of Kontoor Brands from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Wells Fargo & Company lifted their price target on shares of Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, March 4th. UBS Group upped their price objective on shares of Kontoor Brands from $118.00 to $131.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. The Goldman Sachs Group increased their price objective on shares of Kontoor Brands from $84.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Finally, Weiss Ratings upgraded shares of Kontoor Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $91.20.

Kontoor Brands Trading Up 0.0%

Shares of KTB opened at $70.08 on Monday. 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 has a 52-week low of $53.55 and a 52-week high of $87.00. The firm has a market cap of $3.87 billion, a price-to-earnings ratio of 14.19 and a beta of 0.89. The business’s fifty day moving average is $70.73 and its 200-day moving average is $67.90.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KTB. Norges Bank acquired a new stake in Kontoor Brands in the fourth quarter valued at $36,185,000. Boston Partners acquired a new position in Kontoor Brands during the 3rd quarter worth about $44,733,000. JPMorgan Chase & Co. lifted its holdings in Kontoor Brands by 15.8% during the 4th quarter. JPMorgan Chase & Co. now owns 3,019,204 shares of the company’s stock worth $184,443,000 after buying an additional 413,005 shares during the period. Amundi bought a new stake in shares of Kontoor Brands in the 3rd quarter valued at about $24,653,000. Finally, Balyasny Asset Management L.P. grew its position in shares of Kontoor Brands by 134.3% in the 2nd quarter. Balyasny Asset Management L.P. now owns 468,630 shares of the company’s stock valued at $30,916,000 after buying an additional 268,604 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.