In a report released yesterday, Jim Duffy from Stifel Nicolaus maintained a Buy rating on Kontoor Brands (KTB – Research Report), with a price target of $60.00. The company’s shares closed yesterday at $49.58.
According to TipRanks, Duffy is a 5-star analyst with an average return of 6.4% and a 52.54% success rate. Duffy covers the Consumer Cyclical sector, focusing on stocks such as Nike, VF, and Fox Factory Holding.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Kontoor Brands with a $58.33 average price target, representing a 17.65% upside. In a report released yesterday, Barclays also upgraded the stock to a Buy with a $59.00 price target.
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Based on Kontoor Brands’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $616.01 million and a net profit of $36.4 million. In comparison, last year the company earned a revenue of $613.57 million and had a net profit of $62 million
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Kontoor Brands (KTB) Company Description:
Kontoor Brands, Inc. engages in the manufacture and sale of apparel. It designs, manufactures, sources, markets, and distributes its portfolio of brands which include Wrangler and Lee denim, apparel, and accessories. The company was founded on November 11, 2018 and is headquartered in Greensboro, NC.
Read More on KTB:
- Kontoor Brands lowers 2023 adjusted EPS view to $4.35 from $4.55-$4.75
- Kontoor Brands reports Q3 adjusted EPS $1.22, consensus $1.18
- ‘Load Up,’ Says Goldman Sachs About These 3 ‘Strong Buy’ Stocks
- Kontoor Brands raises quarterly dividend 4% to 50c from 48c per share
- Kontoor Brands upgraded to Buy from Neutral at Goldman Sachs
