Market Analysts see Kontoor Brands Inc. [KTB] gaining to $38. Time to buy?

Kontoor Brands Inc. [NYSE: KTB] stock went on an upward path that rose over 11.20% on Thursday, amounting to a one-week price increase of more than 8.02%. The company report on October 29, 2020 that Kontoor Brands Announces Rescheduled Time for Third Quarter 2020 Conference Call.

Kontoor Brands, Inc. (NYSE: KTB), a global lifestyle apparel company, with a portfolio led by two of the world’s most iconic consumer brands, Wrangler® and Lee®, today announced that the Company is rescheduling the time for its conference call to discuss third quarter 2020 results due to a network outage at its conference call provider. The call has now been rescheduled for later today, Thursday, October 29, 2020 at 2:00 p.m. Eastern Time. The conference will be broadcast live via the Internet, accessible at https://www.kontoorbrands.com/investors. For those unable to listen to the live broadcast, an archived version will be available at the same location.

About Kontoor Brands .

Over the last 12 months, KTB stock dropped by -11.76%. The one-year Kontoor Brands Inc. stock forecast points to a potential downside of -50.43. The average equity rating for KTB stock is currently 2.60, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $1.96 billion, with 56.93 million shares outstanding and 52.61 million shares in the current float. Compared to the average trading volume of 589.99K shares, KTB stock reached a trading volume of 2101639 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Kontoor Brands Inc. [KTB]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for KTB shares is $23.10 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on KTB stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Kontoor Brands Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 26, 2020. The new note on the price target was released on October 07, 2020, representing the official price target for Kontoor Brands Inc. stock. Previously, the target price had yet another raise from $17 to $24, while Goldman kept a Buy rating on KTB stock.

The Average True Range (ATR) for Kontoor Brands Inc. is set at 1.67, with the Price to Sales ratio for KTB stock in the period of the last 12 months amounting to 0.91. Price to Free Cash Flow for KTB in the course of the last twelve months was 17.31 with Quick ratio for the last quarter at 1.50.

KTB Stock Performance Analysis:

Kontoor Brands Inc. [KTB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.02. With this latest performance, KTB shares gained by 43.60% in over the last four-week period, additionally plugging by 77.21% over the last 6 months – not to mention a drop of -11.76% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for KTB stock in for the last two-week period is set at 77.55, with the RSI for the last a single of trading hit 78.45, and the three-weeks RSI is set at 75.21 for Kontoor Brands Inc. [KTB]. The present Moving Average for the last 50 days of trading for this stock 25.71, while it was recorded at 32.62 for the last single week of trading, and 24.32 for the last 200 days.

Insight into Kontoor Brands Inc. Fundamentals:

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Kontoor Brands Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 2.80.

KTB Stock EPS

With the latest financial reports released by the company, Kontoor Brands Inc. posted 0.95/share EPS, while the average EPS was predicted by analysts to be reported at 0.89/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 6.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for KTB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Kontoor Brands Inc. go to -6.70%.

Kontoor Brands Inc. [KTB] Insider Position Details

There are presently around $2,021 million, or 95.50% of KTB stock, in the hands of institutional investors. The top three institutional holders of KTB stocks are: PNC FINANCIAL SERVICES GROUP, INC. with ownership of 11,364,028, which is approximately -0.1% of the company’s market cap and around 0.60% of the total institutional ownership; BLACKROCK INC., holding 7,270,880 shares of the stock with an approximate value of $252.66 million in KTB stocks shares; and VANGUARD GROUP INC, currently with $206.55 million in KTB stock with ownership of nearly -5.998% of the company’s market capitalization.

140 institutional holders increased their position in Kontoor Brands Inc. [NYSE:KTB] by around 10,808,096 shares. Additionally, 148 investors decreased positions by around 13,613,988 shares, while 76 investors held positions by with 33,735,652 shares. The mentioned changes placed institutional holdings at 58,157,736 shares, according to the latest SEC report filing. KTB stock had 49 new institutional investments in for a total of 3,198,776 shares, while 55 institutional investors sold positions of 1,044,892 shares during the same period.

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