Kontoor Brands (NYSE:KTB) Sets New 12-Month High – Still a Buy?

Kontoor Brands, Inc. (NYSE:KTB)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $95.25 and last traded at $94.13, with a volume of 66265 shares traded. The stock had previously closed at $91.59.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on KTB. UBS Group lifted their target price on shares of Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a report on Friday, November 1st. Barclays increased their target price on Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Stifel Nicolaus downgraded Kontoor Brands from a “buy” rating to a “hold” rating and lifted their price target for the company from $89.00 to $93.00 in a research note on Friday, November 1st. Wells Fargo & Company increased their price objective on Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Guggenheim boosted their target price on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

Kontoor Brands Stock Performance

The firm has a fifty day moving average of $88.43 and a 200-day moving average of $80.80. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 2.11 and a beta of 1.20.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.11. The business had revenue of $670.19 million during the quarter, compared to the consensus estimate of $663.45 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. During the same quarter in the previous year, the company posted $1.22 EPS. The business’s revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $80.71, for a total value of $729,537.69. Following the completion of the transaction, the executive vice president now directly owns 18,179 shares of the company’s stock, valued at $1,467,227.09. The trade was a 33.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Scott H. Baxter sold 119,160 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $83.60, for a total value of $9,961,776.00. Following the sale, the chief executive officer now directly owns 331,916 shares in the company, valued at approximately $27,748,177.60. The trade was a 26.42 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kontoor Brands

Hedge funds and other institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its position in Kontoor Brands by 3.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 4,775 shares of the company’s stock worth $408,000 after acquiring an additional 141 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Kontoor Brands by 26.0% during the 4th quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock worth $75,000 after purchasing an additional 182 shares during the period. U.S. Capital Wealth Advisors LLC boosted its holdings in shares of Kontoor Brands by 7.1% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 2,956 shares of the company’s stock worth $252,000 after purchasing an additional 197 shares during the last quarter. UMB Bank n.a. grew its position in shares of Kontoor Brands by 0.4% in the fourth quarter. UMB Bank n.a. now owns 51,305 shares of the company’s stock valued at $4,382,000 after purchasing an additional 210 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in Kontoor Brands by 242.5% in the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock valued at $32,000 after purchasing an additional 274 shares during the last quarter. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Kontoor Brands Company Profile

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.