JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Kontoor Brands (NYSE:KTB) Stock

Kontoor Brands (NYSE:KTB) had its target price raised by investment analysts at JPMorgan Chase & Co. from $90.00 to $105.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 23.87% from the company’s previous close.

A number of other research analysts have also recently issued reports on KTB. BTIG Research reaffirmed a “buy” rating and issued a $100.00 price target on shares of Kontoor Brands in a report on Friday, May 1st. Wall Street Zen downgraded Kontoor Brands from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded Kontoor Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, July 20th. Barclays lifted their price target on Kontoor Brands from $93.00 to $96.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Finally, Zacks Research upgraded Kontoor Brands from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $92.70.

Kontoor Brands Stock Performance

Shares of Kontoor Brands stock opened at $84.76 on Tuesday. The firm has a market capitalization of $4.68 billion, a P/E ratio of 17.16 and a beta of 0.88. The company has a quick ratio of 1.10, a current ratio of 1.87 and a debt-to-equity ratio of 1.83. The company has a 50 day moving average price of $80.35 and a 200 day moving average price of $72.40. Kontoor Brands has a 52 week low of $55.17 and a 52 week high of $88.96.

Kontoor Brands (NYSE:KTB) last released its earnings results 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 during the quarter, compared to analyst estimates of $784.76 million. Kontoor Brands had a return on equity of 60.17% and a net margin of 8.30%.The firm’s revenue for the quarter was up 45.0% on a year-over-year basis. During the same quarter last year, the business earned $1.20 earnings per share. Kontoor Brands has set its FY 2026 guidance at 6.600-6.700 EPS. Sell-side analysts expect that Kontoor Brands will post 5.2 EPS for the current year.

Insider Buying and Selling

In other Kontoor Brands news, EVP Jennifer H. Broyles sold 4,000 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $81.02, for a total transaction of $324,080.00. Following the sale, the executive vice president directly owned 40,261 shares of the company’s stock, valued at approximately $3,261,946.22. This trade represents a 9.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kontoor Brands

Several institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in Kontoor Brands in the fourth quarter valued at $36,185,000. Boston Partners purchased a new stake in shares of Kontoor Brands during the 3rd quarter worth about $44,733,000. JPMorgan Chase & Co. boosted its stake in shares of Kontoor Brands by 15.8% during the 4th quarter. JPMorgan Chase & Co. now owns 3,019,204 shares of the company’s stock worth $184,443,000 after acquiring an additional 413,005 shares in the last quarter. Amundi acquired a new stake in shares of Kontoor Brands during the 3rd quarter valued at about $24,653,000. Finally, Balyasny Asset Management L.P. grew its position in shares of Kontoor Brands by 134.3% during the 2nd quarter. Balyasny Asset Management L.P. now owns 468,630 shares of the company’s stock valued at $30,916,000 after acquiring an additional 268,604 shares during the period. Institutional investors and hedge funds own 93.06% of the company’s stock.

Kontoor Brands Company Profile

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.