Wells Fargo Keeps Their Buy Rating on Kontoor Brands (KTB)
Wells Fargo analyst Ike Boruchow maintained a Buy rating on Kontoor Brands yesterday and set a price target of $120.00. The company’s shares closed yesterday at $59.49.
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According to TipRanks, Boruchow is a 4-star analyst with an average return of 5.1% and a 50.10% success rate. Boruchow covers the Consumer Cyclical sector, focusing on stocks such as Ross Stores, Tapestry, and Bath & Body Works.
In addition to Wells Fargo, Kontoor Brands also received a Buy from Barclays’s Adrienne Yih in a report issued on January 6. However, yesterday, TipRanks – OpenAI reiterated a Hold rating on Kontoor Brands (NYSE: KTB).
Based on Kontoor Brands’ latest earnings release for the quarter ending September 27, the company reported a quarterly revenue of $853.22 million and a net profit of $36.94 million. In comparison, last year the company earned a revenue of $670.19 million and had a net profit of $70.55 million
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KTB in relation to earlier this year.
