Brokerages Set Kontoor Brands (NYSE:KTB) Price Target at $29.58

Kontoor Brands (NYSE:KTB) has been assigned a consensus rating of “Hold” from the eight brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $29.58.

A number of equities analysts recently commented on KTB shares. Susquehanna Bancshares started coverage on Kontoor Brands in a report on Thursday, June 13th. They issued a “positive” rating and a $36.00 price objective on the stock. Cowen started coverage on Kontoor Brands in a report on Monday, April 8th. They issued a “neutral” rating and a $7.50 price objective on the stock. Bank of America set a $20.00 price objective on Fiat Chrysler Automobiles and gave the stock a “hold” rating in a report on Thursday, June 6th. Edward Jones started coverage on Kontoor Brands in a report on Friday, May 24th. They issued a “hold” rating on the stock. Finally, Piper Jaffray Companies restated a “buy” rating on shares of Incyte in a report on Monday, June 17th.

Large investors have recently added to or reduced their stakes in the stock. CENTRAL TRUST Co bought a new stake in Kontoor Brands during the second quarter worth approximately $25,000. Legacy Advisors LLC bought a new stake in Kontoor Brands during the second quarter worth approximately $76,000. Raymond James Trust N.A. bought a new stake in Kontoor Brands during the second quarter worth approximately $227,000. Xact Kapitalforvaltning AB bought a new stake in Kontoor Brands during the second quarter worth approximately $432,000. Finally, Nisa Investment Advisors LLC bought a new stake in shares of Kontoor Brands in the second quarter valued at approximately $470,000. Hedge funds and other institutional investors own 0.08% of the company’s stock.

Shares of KTB traded down $1.73 during trading hours on Monday, reaching $31.77. The company’s stock had a trading volume of 547,609 shares, compared to its average volume of 1,749,405. Kontoor Brands has a 1-year low of $25.78 and a 1-year high of $41.75. The firm has a 50 day moving average of $29.37.

Kontoor Brands (NYSE:KTB) last issued its earnings results on Thursday, June 20th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). The firm had revenue of $648.34 million during the quarter, compared to the consensus estimate of $636.00 million. On average, equities analysts predict that Kontoor Brands will post 3.59 earnings per share for the current year.

About Kontoor Brands

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