Kontoor Brands (NYSE:KTB) Receives Consensus Recommendation of “Hold” from Brokerages

Kontoor Brands (NYSE:KTB) has been assigned a consensus recommendation of “Hold” from the eight research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $29.58.

Several research firms have recently commented on KTB. Goldman Sachs Group set a €6.34 ($7.37) price target on Banco Bilbao Vizcaya Argentaria and gave the stock a “neutral” rating in a research report on Friday, May 17th. Piper Jaffray Companies reissued a “buy” rating on shares of Incyte in a research report on Monday, June 17th. Stifel Nicolaus set a $14.00 price target on Roadrunner Transportation Systems and gave the stock a “hold” rating in a research report on Tuesday, May 28th. Bank of America set a $20.00 price target on Fiat Chrysler Automobiles and gave the stock a “hold” rating in a research report on Thursday, June 6th. Finally, Edward Jones began coverage on Kontoor Brands in a research report on Friday, May 24th. They issued a “hold” rating for the company.

A number of hedge funds have recently made changes to their positions in the stock. NN Investment Partners Holdings N.V. purchased a new position in Kontoor Brands during the 2nd quarter worth $622,000. Nisa Investment Advisors LLC purchased a new position in Kontoor Brands during the 2nd quarter worth $470,000. Xact Kapitalforvaltning AB purchased a new position in Kontoor Brands during the 2nd quarter worth $432,000. Finally, CENTRAL TRUST Co purchased a new position in Kontoor Brands during the 2nd quarter worth $25,000.

NYSE KTB traded up $0.04 on Monday, reaching $33.50. 528,393 shares of the stock traded hands, compared to its average volume of 1,111,345. The stock’s fifty day simple moving average is $29.37. Kontoor Brands has a 12 month low of $25.78 and a 12 month high of $41.75.

Kontoor Brands (NYSE:KTB) last issued its earnings results on Thursday, June 20th. The company reported $0.78 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.12). The business had revenue of $648.34 million during the quarter, compared to analyst estimates of $636.00 million. On average, equities research analysts anticipate that Kontoor Brands will post 3.59 earnings per share for the current year.

Kontoor Brands Company Profile

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Analyst Recommendations for Kontoor Brands (NYSE:KTB)

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