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WTKWY, KTB and CCU made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on March 27, 2023.
GECC, SCM and KTB made it to the Zacks Rank #1 (Strong Buy) income stocks list on March 7, 2023.
Kontoor (KTB) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).
The denim maker is seeing a resurgence in popularity for its tough work and casual clothes.
Kontoor Brands, Inc. (NYSE:KTB ) Q4 2022 Earnings Conference Call February 28, 2023 8:30 AM ET Company Participants Eric Tracy - Vice President, Corporate Finance & Investor Relations Scott Baxter - President, Chief Executive Officer & Chair Tom Waldron - Co-Chief Operating Officer & Global Brand President, Wrangler Chris Waldeck - Co-Chief Operating Officer & Global Brand President, Lee Rustin Welton - Chief Financial Officer Conference Call Participants Jay Sole - UBS Bob Drbul - Guggenheim Will Gardner - Wells Fargo Brooke Roach - Goldman Sachs Sam Poser - Williams Trading Jim Duffy - Stifel Operator Greetings, and welcome to the Kontoor Brands' Fourth Quarter and Fiscal Year 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode.
Kontoor (KTB) delivered earnings and revenue surprises of 15.79% and 8.26%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
Shares of Kontoor Brands Inc. KTB, -1.89% jumped 7.6% in premarket trading Tuesday, after the Wrangler and Lee jeans parent fourth-quarter profit and revenue that beat expectations and provided an upbeat full-year outlook. Net income rose to $51.6 million, or 91 cents a share, from $43.9 million, or 75 cents a share, in the year-ago period.
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One of the most popular TV shows in America is "Yellowstone," the dramatic story of a Montana ranch family in modern day times. This legion of fans have purchased show merchandise in droves and dream of living that lifestyle.
Kontoor Brands of denim names like Wrangler and Lee has a lower P/E than that for the consumer discretionary sector. Does this mean it's undervalued? Or are its fundamentals weak? Kontoor Brands' revenues have been weak over the years, and going by macroeconomic conditions, could remain so. But its margins are surprisingly strong, which is a reflection on management.