|Over a week ago|
Kontoor Brands rises 12.5% » 10:0010/2910/29/20
Kontoor Brands is up…
Kontoor Brands is up 12.5%, or $3.91 to $35.16.
Kontoor Brands sees Q4 revenue 'flat to down modestly' vs. Q3, consensus $635.1M » 06:5410/2910/29/20
Revenue in the fourth…
Revenue in the fourth quarter of 2020 is expected to show continued sequential improvement from third quarter 2020 results, with revenue anticipated to be flat to down modestly. Adjusted gross margin in the fourth quarter of 2020 is anticipated to be above the 40.9 percent achieved in the prior year, reflecting continued benefits from ongoing restructuring and quality-of-sales initiatives, as well as higher anticipated growth in more accretive channels such as Digital and improving mix within international. Fourth quarter adjusted SG&A is expected to increase year-over-year, driven by strategic decisions to amplify investments in demand creation and DTC in support of both the fourth quarter and long-term revenue.
Kontoor Brands sees FY20 adjusted EPS 2.25-$2.35, consensus $1.33 06:5310/2910/29/20
Kontoor Brands reinstates quarterly dividend of 40c per share » 06:5210/2910/29/20
Payable in December,…
Payable in December, 2020.
Kontoor Brands reports Q3 adjusted EPS $1.33, consensus 58c » 06:5110/2910/29/20
Reports Q3 revenue $583M,…
Reports Q3 revenue $583M, consensus $548.96M.
Kontoor Brands upgraded to Buy from Neutral at BofA » 06:1510/2610/26/20
BofA analyst Heather…
BofA analyst Heather Balsky upgraded Kontoor Brands to Buy from Neutral with a price target of $38, up from $17. The analyst contends that consensus is underestimating the company's sales trajectory, which should benefit from the new distribution effective the second half of this year. Balsky also cites the likelihood of another round of U.S. stimulus supporting the company's lower income consumer and a healthier distribution footprint relative to Kontoor's peers.
Kontoor Brands upgraded to Buy from Underperform at BofA » 06:0410/2610/26/20
BofA upgraded Kontoor…
BofA upgraded Kontoor Brands to Buy from Underperform with a $38 price target.
|Over a month ago|
Kontoor Brands price target raised to $36 from $29 at Piper Sandler » 06:0510/1310/13/20
Piper Sandler analyst…
Piper Sandler analyst Erinn Murphy raised the firm's price target on Kontoor Brands (KTB) to $36 from $29 and keeps an Overweight rating on the shares following a round of checks at Walmart (WMT). Encouragingly, the Lee roll out continues to build, Murphy tells investors in a research note. Based on an updated inventory tally, the analyst believes Kontoor's Q3 sell-in could be closer to $50M from the Lee initiative alone.
Barclays upgrades Retail sector to Positive, makes seven rating changes » 06:1610/0710/07/20
AEO, FL, GPS, URBN, KTB, RL, PVH
Barclays analyst Adrienne…
Barclays analyst Adrienne Yih upgraded the Retail sector Positive along with four omnichannel retailers and one apparel manufacturer. In the wake of COVID, the Retail segment is reducing supply on multiple levels and forcing store closures as e-commerce growth accelerates, Yih tells investors in a research note. In 2021, the analyst foresees a return to brick-and-mortar sales growth and "lean" inventory supporting EBIT margin expansion. As such, "the Retail deleverage or 'Death Curve' will, in fact, become the Retail Leverage or 'Life Curve,' says Yih. The analyst upgraded American Eagle (AEO), Foot Locker (FL), Gap (GPS), Urban Outfitters (URBN) and Kontoor Brands (KTB) to Overweight from Equal Weight. Yih also downgraded two apparel manufacturers, Ralph Lauren (RL) to Equal Weight from Overweight and PVH Corp. (PVH) to Underweight from EQual Weight. Both have department store channel and apparel category exposure, says the analyst.
Kontoor Brands upgraded to Overweight from Equal Weight at Barclays » 04:5910/0710/07/20
Barclays analyst Adrienne…
Barclays analyst Adrienne Yih upgraded Kontoor Brands to Overweight from Equal Weight with a $32 price target.