Kontoor Brands, Inc. (NYSE:KTB – Get Rating) was the recipient of a significant drop in short interest in the month of December. As of December 30th, there was short interest totalling 4,410,000 shares, a drop of 5.2% from the December 15th total of 4,650,000 shares. Based on an average trading volume of 484,400 shares, the short-interest ratio is presently 9.1 days. Currently, 8.1% of the company’s stock are sold short.
Kontoor Brands Stock Performance
Shares of Kontoor Brands stock opened at $45.84 on Monday. The business’s fifty day simple moving average is $42.49 and its 200 day simple moving average is $38.78. The firm has a market capitalization of $2.54 billion, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 1.28 and a beta of 1.14. Kontoor Brands has a 12 month low of $30.98 and a 12 month high of $51.85. The company has a current ratio of 2.12, a quick ratio of 0.78 and a debt-to-equity ratio of 3.96.
Kontoor Brands (NYSE:KTB – Get Rating) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.12. Kontoor Brands had a return on equity of 143.05% and a net margin of 9.21%. The business had revenue of $606.52 million for the quarter, compared to analyst estimates of $630.40 million. As a group, analysts anticipate that Kontoor Brands will post 4.39 EPS for the current year.
Institutional Investors Weigh In On Kontoor Brands
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the company. Wells Fargo & Company reduced their price objective on Kontoor Brands from $48.00 to $44.00 and set an “overweight” rating for the company in a research note on Wednesday, October 19th. Barclays cut their target price on Kontoor Brands from $40.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Monday, November 7th. Finally, The Goldman Sachs Group lifted their target price on Kontoor Brands from $36.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, December 12th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $42.17.
About Kontoor Brands
Kontoor Brands, Inc, a lifestyle apparel company, designs, manufactures, procures, markets, and distributes denim, apparel, and accessories under the Wrangler, Lee, and Rock & Republic brands in the United States and internationally. It operates through two segments, Wrangler and Lee. The company sells its products primarily through mass merchants, specialty stores, mid-tier and traditional department stores, company-operated stores, and online.
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