Benzinga | Oct 7, 2020 02:16PM EDT

Why Kontoor Brands Is Trading Higher Today

Kontoor Brands (NYSE:KTB) shares are trading higher on Wednesday after Barclays upgraded the stock from Equal-Weight to Overweight and announced a price target of $32 per share.

Kontoor Brands 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 distribute the products through both brick and mortar and e-commerce retailers.

Kontoor Brands shares traded up 7.18% to $27.01 on Wednesday. The stock has a 52-week high of $43.24 and a 52-week low of $12.90.