Kontoor Brands (NYSE:KTB) Stock, Quote.Headers.trade-ideas

Kontoor Brands

Kontoor Brands Inc is a lifestyle apparel company. It is engaged in designing, manufacturing, sourcing, marketing, and distribution of its portfolio of brands, including Wrangler and Lee. It manufactures its products in owned and leased facilities and distributes the products through both brick-and-mortar and e-commerce retailers. It generates the majority of its revenue from the Wrangler segment. The company's geographical segments are the United States and International, of which the majority of its revenue comes from the United States.

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Guess? Inc. (NYSE: GES) posted mixed second-quarter fiscal 2025 results, with the top line increasing year over year. The bottom line declined from the year-ago quarter&#39;s reported figure and missed the consensus mark.

Guess? Lags on Q2 Earnings, Cuts FY25 View on Consumer Slowdown

Asset Sales

Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market&#39;s attention and produce exceptional returns. But finding a growth stock that can live up to its true potential can be a tough task.

3 Reasons Growth Investors Will Love Kontoor

Price Target

Pre-Market Outlook

SBUX

Wall Street&#39;s Most Accurate Analysts Weigh In On 3 Consumer Stocks Delivering High-Dividend Yields

Kontoor Brands Inc

CORTS Trust for Bellsouth 7.00% CorTS Ctfs due 12/01/2095

Jefferies analyst Julien Dumoulin-Smith initiates coverage on WEC Energy Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WEC#NYSE">WEC</a>) with a Hold rating and announces Price Target of $102.

Initiation

Jefferies Initiates Coverage On WEC Energy Group with Hold Rating, Announces Price Target of $102

The head-to-head matchup between former President Donald Trump and Vice President Kamala Harris could come down to how several swing states fall in the<a href="https://www.benzinga.com/topic/2024-election"> 2024 presidential election.</a>
A new poll shows which candidate is making up ground in the key seven states.
What Happened: Harris has been trending up <a href="https://www.benzinga.com/general/politics/24/09/40910999/trump-in-trouble-vice-president-harris-has-record-6-point-lead-in-2024-election-poll-after-debat">in 2024 election polls</a> of nationally registered voters, posting her largest lead in the weekly Morning Consult poll this week in the head-to-head matchup.
A new poll of <a href="https://www.benzinga.com/topic/swing-states">swing state</a> voters, which covers seven key battleground states, could show a different picture.
Here are the results from the September Emerson College swing state <a href="https://emersoncollegepolling.com/september-2024-swing-state-polls-trump-and-harris-locked-in-tight-presidential-race/">polls </a>with the results from August in parentheses:
<ul>
<li>Arizona: Trump 49% (50%), Harris 48% (47%)</li>
<li>Georgia: Trump 50% (48%), Harris 47% (49%)</li>
<li>Michigan: Harris 49% (50%), Trump 47% (47%)</li>
<li>Nevada: Trump 48% (48%), Harris 48% (49%)</li>
<li>North Carolina: Harris 49% (48%), Trump 48% (49%)</li>
<li>Pennsylvania: Trump 48% (48%), Harris 47% (48%)</li>
<li>Wisconsin: Trump 49% (49%), Harris 48% (48%)</li>
</ul>
The results show that Trump leads Harris in four of the seven states and is tied with the vice president in one state. Harris leads Trump in two states. Each candidate led three states in the August poll.
Trump gained support in one state and lost support in two states, with four states remaining the same from August. Harris gained support in two states and lost support in four states.
"There has been marginal movement in the presidential election since the late August Emerson swing state polls before the presidential debate," Emerson College Polling executive director Spencer Kimball said. 
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent091924">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: The seven swing states in question together represent 93 electoral votes in the 2024 election. Six of the seven states above were won by Biden in the 2020 election with Trump winning North Carolina. Several of the states were flipped from Trump's win in the 2016 election.
A Marist poll recently found how swing state voters in Michigan, Pennsylvania and Wisconsin would vote in the 2024 election if it were held today. The race for Pennsylvania and Wisconsin was close with Trump and Harris tied in Pennsylvania and Harris leading by one point in Wisconsin.
In the state of Michigan, Harris had a five-point lead over Trump.
The three states together represent 44 electoral votes and could prove important in the 2024 election. Trump was the first Republican presidential candidate to sweep the three states since Ronald Reagan in 1984, <a href="https://nypost.com/2024/09/19/us-news/trump-harris-neck-and-neck-among-likely-voters-in-pennsylvania-and-wisconsin-veep-up-5-in-michigan-polls/">according </a>to the New York Post. Biden won all three of the states in the 2020 election.
All seven swing states see voters pick the economy as the top issue ahead of the election. Immigration, threats to democracy and housing affordability are also top voter issues in swing states.
With less than two months until the 2024 election, the race between Harris and Trump remains close and swing states continue to be one of the most monitored polling items given their importance.
Check This Out:
<ul>
<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent091924">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Photo: Shutterstock

Politics

Harris In Trouble? New Swing State Poll Shows Trump Gains Ground In Key Battleground Areas For 2024 Election

Jefferies analyst Paul Zimbardo initiates coverage on Xcel Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XEL#NASDAQ">XEL</a>) with a Hold rating and announces Price Target of $70.

Jefferies Initiates Coverage On Xcel Energy with Hold Rating, Announces Price Target of $70

Jefferies analyst Julien Dumoulin-Smith initiates coverage on Alliant Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LNT#NASDAQ">LNT</a>) with a Hold rating and announces Price Target of $67.

Jefferies Initiates Coverage On Alliant Energy with Hold Rating, Announces Price Target of $67

Jefferies analyst Julien Dumoulin-Smith initiates coverage on OGE Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>) with a Buy rating and announces Price Target of $46.

Jefferies Initiates Coverage On OGE Energy with Buy Rating, Announces Price Target of $46

Jefferies analyst Julien Dumoulin-Smith initiates coverage on Ameren (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEE#NYSE">AEE</a>) with a Buy rating and announces Price Target of $97.

Jefferies Initiates Coverage On Ameren with Buy Rating, Announces Price Target of $97

Jefferies analyst Julien Dumoulin-Smith initiates coverage on Evergy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVRG#NASDAQ">EVRG</a>) with a Buy rating and announces Price Target of $70.

EVRG

Jefferies Initiates Coverage On Evergy with Buy Rating, Announces Price Target of $70

Jefferies analyst Julien Dumoulin-Smith initiates coverage on Pinnacle West Capital (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNW#NYSE">PNW</a>) with a Buy rating and announces Price Target of $104.

Jefferies Initiates Coverage On Pinnacle West Capital with Buy Rating, Announces Price Target of $104

Jefferies analyst Julien Dumoulin-Smith initiates coverage on Exelon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXC#NASDAQ">EXC</a>) with a Buy rating and announces Price Target of $46.

Jefferies Initiates Coverage On Exelon with Buy Rating, Announces Price Target of $46

Jefferies analyst Paul Zimbardo initiates coverage on PPL (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPL#NYSE">PPL</a>) with a Buy rating and announces Price Target of $38.

Jefferies Initiates Coverage On PPL with Buy Rating, Announces Price Target of $38

Mortgage rates continue to <a href="https://www.benzinga.com/news/24/09/40921345/mortgage-rates-drop-to-2-year-low-refinancing-hits-fastest-pace-since-2022-rocket-lendingtree-among">fall toward 6%</a> as the housing market absorbs the Federal Reserve&#8217;s 0.5% rate cut on Wednesday, raising demand for refinancing and buying, stated Freddie Mac.
The average rate for a 30-year fixed mortgage fell to 6.09% on Thursday, down from 6.2% a week ago and 7.19% a year earlier, according to Freddie Mac&#8217;s Primary Market Mortgage Survey.
The rate for a 15-year fixed mortgage declined to 5.15%, down from 5.27% a week ago and 6.54% a year earlier.
"Mortgage rates continued declining towards the six percent mark, reviving purchase and refinance demand for many consumers," said Sam Khater, Freddie Mac's chief economist.
Read Also:<a href="https://www.benzinga.com/top-stories/24/09/40923657/single-family-housing-starts-are-up-as-mortgage-rates-decline-fed-eyes-lower-rates"> Single-Family Housing Starts Are Up As Mortgage Rates Decline, Fed Eyes Lower Rates</a>
"While mortgage rates do not directly follow moves by the Federal Reserve, this first cut in over four years will have an impact on the housing market. Declining mortgage rates over the last several weeks indicate this cut was mostly baked in, but we expect rates to fall further, sparking more housing activity."
Exchange-traded funds that hold mortgage stocks are sensitive to mortgage rates because they primarily invest in mortgage-backed securities (MBS) or mortgage-related assets, which are directly impacted by changes in interest rates.
<ul>
<li>IShares Mortgage Real Estate ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/REM#BATS">REM</a>) rose 0.82%</li>
<li>VanEck Mortgage REIT Income ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MORT#NYSE">MORT</a>) went up 0.74%</li>
<li>IShares MBS ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBB#NASDAQ">MBB</a>) ticked up 0.06%</li>
</ul>
IShares Mortgage Real Estate ETF holds 15.2% of the REIT, Annaly Capital Management, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NLY#NYSE">NLY</a>), while VanEck Mortgage REIT Income ETF holds 11.1%.
Read Now:
<ul>
<li><a href="https://www.benzinga.com/markets/24/09/40817001/mortgage-rates-fall-to-lowest-level-since-february-2023">Mortgage Rates Fall To Lowest Level Since February 2023</a></li>
</ul>
Photo: Shutterstock

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MORT

iShares FTSE NAREIT Mortgage PLUS Capped Index Fund

Mortgage Rates Near 6%, Demand Increases For Refinancing, Purchases

Jefferies analyst Julien Dumoulin-Smith initiates coverage on Duke Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>) with a Buy rating and announces Price Target of $138.

Jefferies Initiates Coverage On Duke Energy with Buy Rating, Announces Price Target of $138

Morgan Stanley analyst Jeffrey Hung upgrades Centessa Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNTA#NASDAQ">CNTA</a>) from Equal-Weight to Overweight and raises the price target from $11 to $26.

Upgrades

CNTA

Morgan Stanley Upgrades Centessa Pharmaceuticals to Overweight, Raises Price Target to $26

South Korean gaming giant Krafton's recent acquisition of Microsoft Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Tango Gameworks, known for titles like The Evil Within and Hi-Fi Rush, marked a significant move in the <a href="https://www.benzinga.com/general/gaming">gaming sector.</a>
The deal, announced on Aug. 13, was driven more by a commitment to preserving creative talent than by financial incentives.
See Also: <a href="https://www.benzinga.com/general/gaming/24/08/40320631/krafton-saves-tango-gameworks-acquires-hi-fi-rush-ip-from-xbox">Krafton Saves Tango Gameworks: Acquires Hi-Fi Rush IP From Xbox</a>
<h1 class="wp-block-heading">Commitment Over Profit</h1>
&#8220;We don't think Hi-Fi Rush 2 is going to make us money, to be frank,&#8221; CEO Changhan Kim revealed in <a href="https://www.gamedeveloper.com/business/-we-don-t-think-hi-fi-rush-2-is-going-to-make-us-money-krafton-ceo-says-tango-gameworks-acquisition-is-about-legacy">dialogue </a>with Game Developer. 
&#8220;We wanted to maintain their legacy,&#8221; he added. &#8220;Although they did not have a big success in their games, we saw many creatives worth pursuing. That&#8217;s why we wanted to work with that organization.&#8221;
<h1 class="wp-block-heading">Strategic Focus On Hi-Fi Rush</h1>
The acquisition focused specifically on the Hi-Fi Rush intellectual property. 
&#8220;Because Hi-Fi Rush fans really want to see sequels, we negotiated with Tango Gameworks' parent company to acquire that IP as well,&#8221; Kim explained. 
This move was intended to streamline the acquisition process and ensure the game's legacy continued without unnecessary delays.
Kim also addressed the practical aspects of the deal. "If we were to acquire all IPs, I think it's going to complicate the deal too much," he noted. 
<h1 class="wp-block-heading">Staff Transition, Future Plans</h1>
The acquisition involved around 50 of Tango Gameworks&#8217; 100 employees, with the remaining staff not joining Krafton. 
Kim reassured that Krafton had no plans to reduce the new studio's staff and hinted at potential expansion.
&#8220;Krafton is a pretty big company, but Microsoft is very complicated,&#8221; Kim said. &#8220;We wanted to help the team continue developing their games, but especially Hi-Fi Rush.&#8221;
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/gaming/24/05/38791690/xbox-exec-sarah-bond-addresses-microsofts-studio-closures-its-always-extraordinarily-hard-to-make-">Xbox Exec Sarah Bond Addresses Microsoft&#8217;s Studio Closures: &#8216;It&#8217;s Always Extraordinarily Hard To Make Decisions Like That&#8217;</a></li>
</ul>
Photo: Courtesy of Tango Gameworks.

Gaming

General

MSFT

Why Krafton Bought Tango Gameworks From Microsoft: CEO Kim Reveals 'We Don't Think Hi-Fi Rush 2 Is Going To Make Us Money'

Politan Capital Management (together with its affiliates, "Politan"), a 9% shareholder of Masimo Corporation ("Masimo" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MASI#NASDAQ">MASI</a>), today commented on the outcome of the Company's Annual Meeting of Stockholders (the "Annual Meeting").
Both of Politan's independent nominees – Darlene Solomon and William Jellison – were elected to the Board.1 Politan greatly appreciates the support and engagement from its fellow Masimo shareholders during this process.
Darlene Solomon, William Jellison, Michelle Brennan and Quentin Koffey issued the following joint statement:
"While each of us is independent and brings our own unique perspectives, we are united in our enthusiasm for Masimo's future as a leading, innovation-focused growth company. We look forward to meeting with, learning from, and working together with the Healthcare and Consumer employees to make Masimo an even greater company. We would also like customers to know that we will be completely focused on preventing any disruption to their service and support. We will have more to share soon."

MASI

Politan Comments On Results Of Masimo's 2024 Annual Meeting, Both Of Politan's Independent Nominees Darlene Solomon And William Jellison Were Elected To The Board

- Initiation of pivotal CYB003 Phase 3 study in Major Depressive Disorder ("MDD") expected imminently -
- 12-month efficacy data from Phase 2 study of CYB003 in MDD expected in early Q4 2024 -
- Phase 2 topline efficacy and safety results for CYB004 in Generalized Anxiety Disorder ("GAD") expected year-end 2024 or early Q1 2025 -
- Strengthened R&amp;D team with addition of experienced drug development leaders Dr. Atul R. Mahableshwarkar, and Dr. Tom Macek, as program leads for CYB003 and CYB004, respectively -
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.cybin.com%2F&amp;esheet=54124810&amp;newsitemid=20240919771162&amp;lan=en-US&amp;anchor=Cybin+Inc.&amp;index=1&amp;md5=66087b8f12a3993545dbd3142c3afc66">Cybin Inc.</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CYBN#NYSE">CYBN</a>) (Cboe CA:CYBN) ("Cybin" or the "Company"), a clinical-stage breakthrough neuropsychiatry company committed to revolutionizing mental healthcare by developing new and innovative next-generation treatment options, today reported recent clinical accomplishments and key upcoming clinical milestones.

Biotech

CYBN

Cybin Provides Corporate Update On Upcoming Clinical Milestones; Initiation Of Pivotal CYB003 Phase 3 Study In Major Depressive Disorder Expected Imminently; 12-Month Efficacy Data From Phase 2 Study Of CYB003 In MDD Expected In Early Q4 2024; Phase 2 Topline Efficacy And Safety Results For CYB004 In Generalized Anxiety Disorder Expected Year-End 2024 Or Early Q1 2025

ASTC

Astrotech FY24 EPS $(7.12) Down From $(5.95) YoY; Revenue $1.66M Up From $750K YoY

Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) shares<a href="https://www.benzinga.com/news/24/09/40897994/whats-going-on-with-intel-stock-on-tuesday"> skyrocketed on Thursday</a> after Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) assured investors it would not drop its majority stake in the Israeli autonomous driving company.
Mobileye gained 14.99% to close at $13.35 on Thursday, marking its largest intraday jump since late October 2022.
&#8220;We currently do not have any plans to divest a majority interest in the company,&#8221; Intel said in a statement.
&#8220;By providing Mobileye with separation and autonomy, we have enhanced its ability to capitalize on growth opportunities and accelerate its path to creating even greater value.&#8221;
Read Also: <a href="https://www.benzinga.com/news/24/09/40941075/whats-going-on-with-autonomous-driving-stock-mobileye-thursday">What&#8217;s Going On With Autonomous Driving Stock Mobileye Thursday?</a>
Intel, which holds an 88% stake in Mobileye, said it believes in the future of autonomous driving technology and in Mobileye's &#8220;unique role as a leader&#8221; in developing advanced driver assistance systems.
Intel CEO Pat Gelsinger has been changing his company's operations and showed more of his plans earlier this week to get the troubled chipmaker back on track, including pausing building factories in Germany and Poland and turning its manufacturing sector into a wholly owned subsidiary, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-09-19/mobileye-jumps-after-intel-says-it-won-t-divest-majority-stake?srnd=homepage-americas&amp;sref=TBDibEcD">reported</a>.
Intel discussed possibly selling some its Mobileye stake either on the public market or through a third-party sale, Bloomberg reported earlier this month.
Mobileye, which provides both software and hardware for self-driving systems, was acquired by Intel in 2017 for about $15 billion. It had an initial public offering in 2022, but Intel held most of the stake.
Read Now:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/10/35469115/mobileye-lowered-revenue-outlook-but-these-analysts-are-still-bullish-heres-why">Mobileye Lowered Revenue Outlook But These Analysts Are Still Bullish &#8211; Here&#8217;s Why</a></li>
</ul>
Photo: Ilan Ben Oudiz<a href="https://creativecommons.org/licenses/by-sa/4.0"> via </a>Wikimedia Commons

Equities

Global

Tech

INTC

MBLY

Mobileye Soars After Intel Says It Will Not Sell Majority Stake

<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4259289-1&amp;h=1854567284&amp;u=https%3A%2F%2Fnauticusrobotics.com%2F&amp;a=Nauticus+Robotics+Inc.">Nauticus Robotics Inc.</a>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KITT#NASDAQ">KITT</a>) a leading innovator in autonomous subsea robotics and software, today announced receipt of a letter from the Nasdaq Stock Market LLC ("Nasdaq") approving an extension of time to regain compliance with all listing standards.
The letter received from Nasdaq grants Nauticus an exception until December 31, 2024 to demonstrate compliance with the Nasdaq Capital Market listing rules. Nauticus management presented its detailed plan to gain compliance during the Nasdaq Hearings Panel meeting held on September 5, 2024.
Nauticus will continue to work through its plan with intent to resolve all compliance issues before the deadline of December 31, 2024.
With the granting of this Nasdaq exception, Nauticus remains listed on the Nasdaq capital market. Once the compliance plan is fully executed, Nauticus will make further disclosures describing the actions taken by the Company to achieve compliance.&nbsp;

KITT

Nauticus Robotics Announces Notification Of NASDAQ Listing Extension, Will Continue To Work Through Its Plan With Intent To Resolve All Compliance Issues Before The Deadline Of December 31, 2024

WIIM

AGBA

AGBA Group shares are trading higher after the company announced all AGBA/Triller merger closing conditions have been met, with the exception of the final Nasdaq listing regulatory approval.

The most crowded longs and shorts within softlines - UBS

The apparel market is driven by pent-up demand by millennials, demographic shifts, and the growing influence of social media. Hence, it could be wise to buy top apparel stocks, such as American Eagle Outfitters (AEO), Kontoor Brands (KTB), and Caleres (CAL), which are set to trend higher this year. Read more... Millennials are among the market's fastest-growing consumers of luxury fashion goods. These tech-savvy generations, who grew up in the era of mobile technologies, are highly exposed to the omnichannel experience.
Against this backdrop, investors could consider buying fundamentally sound apparel stocks, American Eagle Outfitters, Inc. (<a href="https://stocknews.com/stock/AEO/">AEO</a>), Kontoor Brands, Inc. (<a href="https://stocknews.com/stock/KTB/">KTB</a>), and Caleres, Inc. (<a href="https://stocknews.com/stock/CAL/">CAL</a>), which might trend higher this year.
Millennials are among the market's fastest-growing consumers of luxury fashion goods. These generations are highly aware of the various luxury fashion brands available and look for luxury goods as part of the experience. These generations also offer long-term potential for luxury brands to expand their revenue. Therefore, the global luxury fashion market is expected to have a <a href="https://straitsresearch.com/report/luxury-fashion-market">CAGR of 5.5% </a>by 2031.
Moreover, this demographic shift is fueling a surge in demand for clothing and accessories as consumers seek to upgrade their wardrobes, follow fashion trends, and improve their lifestyles. The global apparel market is projected to grow at a <a href="https://www.grandviewresearch.com/industry-analysis/apparel-market-report">CAGR of 4.1%</a> from 2024 to 2030.
Considering these encouraging trends, let's take a look at the fundamentals of the three best <a href="https://stocknews.com/category/fashion-luxury/">Fashion &amp; Luxury</a> industry stocks, beginning with the third choice.
Stock #3: American Eagle Outfitters, Inc. (<a href="https://stocknews.com/stock/AEO/">AEO</a>)
AEO operates as an international multi-brand specialty retailer. The company offers jeans, apparel and accessories, and personal care products for women and men under the American Eagle brand and intimates, apparel, activewear, and swim collections under the Aerie and OFFLINE by Aerie brands.
AEO's trailing-12-month gross profit margin and EBITDA margin of 39.19% and 12.05% are 6.3% and 6% higher than the industry averages of 36.86% and 11.37%, respectively. Similarly, the stock's trailing-12-month levered FCF margin of 8.53% is considerably higher than the industry average of 5.45%.
For the first quarter that ended May 4, 2024, AEO's total net revenue increased 5.8% year-over-year to $1.14 billion. Its gross profit grew 12.4% from the year-ago value to $464.24 million. The company's operating income of $77.84 million indicates growth of 240.9% from the prior year's quarter.
In addition, the company's net income came in at $67.75 million and $0.34 per share, up 267.2% and 277.8% from the prior year's quarter, respectively.
Street expects AEO's revenue and EPS for the second quarter (ending July 2024) to increase 8.4% and 48.9% year-over-year to $1.30 billion and $0.37, respectively. Furthermore, the company surpassed the consensus EPS estimates in all of the trailing four quarters.
AEO's stock has soared 24.2% over the past nine months to close the last trading session at $21.17.
AEO's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this robust outlook. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
The stock has a B grade for Quality and Growth. It is ranked #14 in the 59-stock A-rated <a href="https://stocknews.com/category/fashion-luxury/">Fashion &amp; Luxury</a> industry.
Beyond what is stated above, we've also rated AEO for Value, Momentum, Stability, and Sentiment. Get all AEO ratings <a href="https://stocknews.com/stock/AEO/">here</a>.
Stock #2: Kontoor Brands, Inc. (<a href="https://stocknews.com/stock/KTB/">KTB</a>)
KTB is a lifestyle apparel company that designs, produces, procures, markets, distributes, and licenses denim, apparel, footwear, and accessories, primarily under the Wrangler and Lee brands. The company operates through two segments: Wrangler and Lee.
KTB's trailing-12-month <a href="https://www.investopedia.com/terms/a/assetturnover.asp">asset turnover ratio</a> of 1.56x is 56.7% higher than the industry average of 0.99x. Likewise, its trailing-12-month Return on Common Equity and Return on Total Capital of 65.32% and 16.74% are 167.2% and 31% higher than the industry averages of 11.82% and 6.26%, respectively.
KTB's net revenues for the fiscal first quarter that ended March 31, 2024, stood at $631.20 million. Its operating income came in at $84.43 million and adjusted EBITDA at $99.45 million. Its adjusted EPS remained flat at $1.16.
Analysts expect KTB's revenue for the third quarter ending September 2024, to increase 3.4% year-over-year to $676.52 million. Its EPS is expected to grow 15.7% year-over-year to $1.41 for the same quarter. Moreover, the company surpassed the consensus EPS and revenue estimates in three of the trailing four quarters.
Over the past three months, the stock has gained 21%, closing the last trading session at $65.29.
KTB's strong fundamentals are reflected in its POWR Ratings. It has an overall rating of B, which equates to a Buy in our proprietary rating system.
KTB has a B grade for Quality. The stock is ranked #10 in the same industry.
<a href="https://stocknews.com/stock/KTB/">Click here</a> to access the additional KTB ratings (Growth, Value, Momentum, Stability, and Sentiment).
Stock #1: Caleres, Inc. (<a href="https://stocknews.com/stock/CAL/">CAL</a>)
CAL engages in the retail and wholesale of footwear business in the United States, Canada, East Asia, and internationally. It operates through Famous Footwear and Brand Portfolio segments.
On May 23, 2024, CAL declared a regular quarterly cash dividend of $0.07 per share, payable on June 20, 2024. The company pays $0.28 annually, which translates to a yield of 0.79% on the prevailing price level. Its four-year average dividend yield is 1.43%.
On April 2, CAL's portfolio brand, the American heritage fashion footwear brand Dr. Scholl's Shoes, launched a special collaboration with Free People as part of its 100th anniversary celebrations. To honor this milestone, Dr. Scholl's Shoes partnered with a series of iconic brands throughout the year, starting with Free People during festival season.
CAL's trailing-12-month gross profit margin of 45.11% is 22.4% higher than the industry average of 38.86%. Its trailing-12-month ROCE of 31.55% is 166.8% higher than the 6.26% industry average. Also, the stock's trailing-12-month net income margin of 5.96% is 22.4% higher than the 4.87% industry average.
CAL's net sales from famous footwear amounted to $349.55 million, indicating a marginal year-over-year increase in the first quarter that ended May 4, 2023. For the same quarter, the company's gross profit increased 2.1% year-over-year to $309.10. As of May 4, 2024, the company's total assets stood at $1.86 billion, compared to $1.81 billion as of April 29, 2023.
Analysts expect CAL's revenue for the second quarter (ending July 2024) to increase 4.2% year-over-year to $724.88 million. For the same quarter, the company's EPS is expected to increase by 24.5% year-over-year to $1.22. Moreover, the company surpassed the consensus EPS estimates in each of the trailing four quarters.
Shares of CAL have gained 28.2% over the past year to close the last trading session at $33.02.
CAL's POWR Ratings reflect bright prospects. The stock has an overall rating of B, which equates to a Buy in our proprietary rating system.
CAL has a B grade for Value and Quality. It is ranked #6 in the same industry.
In addition to the POWR Ratings highlighted above, one can access CAL's ratings for Growth, Momentum, Stability, and Sentiment <a href="https://stocknews.com/stock/CAL/">here</a>.
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AEO shares were trading at $20.45 per share on Monday afternoon, down $0.72 (-3.40%). Year-to-date, AEO has declined -1.65%, versus a 19.00% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Nidhi Agarwal</h2> <img src='https:/wp-content/uploads/2023/03/Nidhi-Agarwal_Headshot-3.jpg' style="float:left; padding:5px;width:125px;">Nidhi is passionate about the capital market and wealth management, which led her to pursue a career as an investment analyst. She holds a bachelor's degree in finance and marketing and is pursuing the CFA program.

Her fundamental approach to analyzing stocks helps investors identify the best investment opportunities.<a href="https://stocknews.com/authors/?author=nidhi-agarwal">More...</a>The post <a href=https://stocknews.com/news/aeo-ktb-cal-3-apparel-stocks-set-to-trend-higher-this-year/>3 Apparel Stocks Set to Trend Higher This Year</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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