Kontoor Brands (NYSE:KTB) Hits New 1-Year High – Time to Buy?

Kontoor Brands, Inc. (NYSE:KTB) shares 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 Analyst Weigh In

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

Kontoor Brands Stock Up 2.1 %

The firm has a market cap of $5.16 billion, a P/E ratio of 21.01, a PEG ratio of 2.11 and a beta of 1.20. The firm’s 50-day moving average price is $88.36 and its 200 day moving average price is $80.42. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42.

Kontoor Brands (NYSE:KTB) last issued its earnings results on Thursday, October 31st. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.26 by $0.11. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The company had revenue of $670.19 million during the quarter, compared to analyst estimates of $663.45 million. During the same quarter last year, the firm earned $1.22 EPS. The business’s revenue was up 2.4% on a year-over-year basis. On average, equities research analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Kontoor Brands news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were 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 owns 18,179 shares in the company, valued at approximately $1,467,227.09. This represents a 33.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Scott H. Baxter sold 119,160 shares of Kontoor Brands stock in a transaction that occurred 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. This trade represents a 26.42 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kontoor Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KTB. Janus Henderson Group PLC boosted its position in Kontoor Brands by 31.4% during the 3rd quarter. Janus Henderson Group PLC now owns 47,474 shares of the company’s stock worth $3,883,000 after acquiring an additional 11,337 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Kontoor Brands during the third quarter valued at about $332,000. International Assets Investment Management LLC lifted its holdings in Kontoor Brands by 8,078.0% in the third quarter. International Assets Investment Management LLC now owns 28,623 shares of the company’s stock worth $2,341,000 after purchasing an additional 28,273 shares during the period. Natixis Advisors LLC lifted its holdings in Kontoor Brands by 6.7% in the third quarter. Natixis Advisors LLC now owns 17,383 shares of the company’s stock worth $1,422,000 after purchasing an additional 1,087 shares during the period. Finally, Jennison Associates LLC grew its position in Kontoor Brands by 73.2% in the 3rd quarter. Jennison Associates LLC now owns 757,426 shares of the company’s stock valued at $61,942,000 after buying an additional 320,117 shares in the last quarter. 93.06% of the stock is owned by institutional investors.

About Kontoor Brands

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.