UBS Group Issues Pessimistic Forecast for Kontoor Brands (NYSE:KTB) Stock Price

Kontoor Brands (NYSE:KTB) had its price target decreased by equities research analysts at UBS Group from $112.00 to $108.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective would indicate a potential upside of 29.18% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company boosted their price objective on shares of Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Barclays raised their price objective on Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Stifel Nicolaus cut Kontoor Brands from a “buy” rating to a “hold” rating and boosted their price objective for the company from $89.00 to $93.00 in a research report on Friday, November 1st. Finally, Guggenheim raised their target price on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.67.

Kontoor Brands Price Performance

NYSE KTB opened at $83.60 on Tuesday. The stock has a 50-day simple moving average of $87.27 and a 200 day simple moving average of $82.49. The stock has a market capitalization of $4.61 billion, a PE ratio of 18.83, a P/E/G ratio of 2.08 and a beta of 1.19. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. Kontoor Brands has a twelve month low of $52.95 and a twelve month high of $96.80.

Hedge Funds Weigh In On Kontoor Brands

Institutional investors and hedge funds have recently bought and sold shares of the business. HHM Wealth Advisors LLC acquired a new position in Kontoor Brands during the 4th quarter worth about $29,000. Northwest Investment Counselors LLC bought a new position in shares of Kontoor Brands in the third quarter worth about $30,000. Farther Finance Advisors LLC lifted its position in shares of Kontoor Brands by 242.5% during the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock worth $32,000 after purchasing an additional 274 shares in the last quarter. Kennebec Savings Bank bought a new stake in shares of Kontoor Brands during the third quarter valued at approximately $32,000. Finally, Huntington National Bank increased its holdings in shares of Kontoor Brands by 62.4% in the fourth quarter. Huntington National Bank now owns 385 shares of the company’s stock valued at $33,000 after purchasing an additional 148 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.

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.