Kontoor Brands (NYSE:KTB – Get Free Report) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.
Other equities analysts also recently issued research reports about the company. The Goldman Sachs Group boosted their target price on Kontoor Brands from $84.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. BTIG Research reiterated a “buy” rating and issued a $100.00 price objective on shares of Kontoor Brands in a research note on Friday, May 1st. UBS Group increased their target price on Kontoor Brands from $118.00 to $131.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Barclays increased their target price on Kontoor Brands from $93.00 to $96.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Wall Street Zen downgraded Kontoor Brands from a “strong-buy” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $91.33.
Get Our Latest Stock Report on Kontoor Brands
Kontoor Brands Stock Performance
Kontoor Brands (NYSE:KTB – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.11). The company 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%.The business’s revenue for the quarter was up 45.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.20 earnings per share. Kontoor Brands has set its FY 2026 guidance at 6.600-6.700 EPS. On average, research analysts anticipate that Kontoor Brands will post 5.2 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada lifted its holdings in Kontoor Brands by 29.1% in the first quarter. Royal Bank of Canada now owns 105,895 shares of the company’s stock worth $6,793,000 after buying an additional 23,880 shares during the period. AQR Capital Management LLC lifted its holdings in Kontoor Brands by 49.3% in the first quarter. AQR Capital Management LLC now owns 14,641 shares of the company’s stock worth $939,000 after buying an additional 4,836 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in Kontoor Brands by 250.8% in the first quarter. Integrated Wealth Concepts LLC now owns 9,388 shares of the company’s stock worth $602,000 after buying an additional 6,712 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Kontoor Brands by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,779 shares of the company’s stock worth $2,102,000 after buying an additional 1,432 shares during the period. Finally, Millennium Management LLC lifted its holdings in Kontoor Brands by 222.5% in the first quarter. Millennium Management LLC now owns 156,332 shares of the company’s stock worth $10,026,000 after buying an additional 107,855 shares during the period. 93.06% of the stock is owned by institutional investors.
About Kontoor Brands
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.
Featured Stories
- Five stocks we like better than Kontoor Brands
- Navy Catalyst Ignites Odysight’s Growth Engine
- AST SpaceMobile Plummets on Galactic Q1 Miss: Can Vertical Integration Save the SpaceX Rival?
- Axon Surged After Earnings and Is Still Down Over 50% From Highs
- The Event That Could Redefine Apple’s Summer Rally
Receive News & Ratings for Kontoor Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kontoor Brands and related companies with MarketBeat.com's FREE daily email newsletter.
