Kontoor Brands (NYSE:KTB) Now Covered by Analysts at JPMorgan Chase & Co.

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

Other equities analysts also recently issued research reports about the stock. Zacks Research downgraded shares of Kontoor Brands from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. BTIG Research reaffirmed a “buy” rating and set a $100.00 price target on shares of Kontoor Brands in a research report on Friday, May 1st. UBS Group lifted their price objective on Kontoor Brands from $118.00 to $131.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Wells Fargo & Company boosted their price objective on Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. Finally, The Goldman Sachs Group upped their target price on Kontoor Brands from $84.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Kontoor Brands presently has an average rating of “Moderate Buy” and a consensus price target of $91.20.

Kontoor Brands Stock Performance

NYSE:KTB opened at $70.08 on Monday. The company has a market capitalization of $3.87 billion, a PE ratio of 14.19 and a beta of 0.89. The company has a 50 day simple moving average of $70.73 and a two-hundred day simple moving average of $67.90. 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 fifty-two week low of $53.55 and a fifty-two week high of $87.00.

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

Institutional Investors Weigh In On Kontoor Brands

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Transamerica Financial Advisors LLC boosted its position in shares of Kontoor Brands by 335.5% during the 4th quarter. Transamerica Financial Advisors LLC now owns 405 shares of the company’s stock worth $25,000 after purchasing an additional 312 shares in the last quarter. Clearstead Advisors LLC increased its position in Kontoor Brands by 2,538.5% in the 3rd quarter. Clearstead Advisors LLC now owns 343 shares of the company’s stock valued at $27,000 after buying an additional 330 shares in the last quarter. Torren Management LLC acquired a new position in Kontoor Brands during the 4th quarter worth approximately $27,000. Assetmark Inc. raised its stake in Kontoor Brands by 532.3% during the 3rd quarter. Assetmark Inc. now owns 392 shares of the company’s stock worth $31,000 after buying an additional 330 shares during the period. Finally, Private Trust Co. NA bought a new position in Kontoor Brands in the fourth quarter worth approximately $31,000. 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.