Hanesbrands Downgraded by DA Davidson to Neutral (HBI)
Hanesbrands (NYSE:HBI) was downgraded by equities researchers at DA Davidson from a “buy” rating to a “neutral” rating in a research report issued on Tuesday, TheFlyOnTheWall.com reports. They currently have a $68.00 price target on the stock. DA Davidson’s target price would indicate a potential upside of 6.92% from the company’s current price. The analysts noted that the move was a valuation call.
A number of other analysts have also recently weighed in on HBI. Analysts at Zacks reiterated an “outperform” rating on shares of Hanesbrands (NYSE:HBI) in a research note to investors on Friday, August 16th. They now have a $73.00 price target on the stock. Separately, analysts at Barclays Capital raised their price target on shares of Hanesbrands (NYSE:HBI) from $54.00 to $70.00 in a research note to investors on Thursday, August 1st. They now have an “overweight” rating on the stock. Finally, analysts at Brean Capital downgraded shares of Hanesbrands (NYSE:HBI) from a “buy” rating to a “hold” rating in a research note to investors on Thursday, August 1st. They now have a $63.00 price target on the stock, up previously from $60.00.
Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $63.50.
Hanesbrands (NYSE:HBI) traded down 0.28% on Tuesday, hitting $63.42. The stock had a trading volume of 342,531 shares. Hanesbrands has a 52-week low of $31.17 and a 52-week high of $65.60. The stock has a 50-day moving average of $61.77 and a 200-day moving average of $52.78. The company has a market cap of $6.279 billion and a P/E ratio of 17.70.
Hanesbrands (NYSE:HBI) last released its earnings data on Tuesday, July 30th. The company reported $1.19 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.94 by $0.25. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the company posted $0.67 earnings per share. Hanesbrands’s revenue was up 1.6% compared to the same quarter last year. Analysts expect that Hanesbrands will post $3.67 EPS for the current fiscal year.
In other Hanesbrands news, CEO Richard A. Noll sold 30,000 shares of the stock on the open market in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $62.60, for a total transaction of $1,878,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Hanesbrands Inc is a consumer goods company with a portfolio of apparel brands, including Hanes, Champion, Bali, Playtex, Just My Size, L’eggs, barely there, Wonderbra, Gear for Sports, Stedman, Zorba, Rinbros, Sol y Oro, Outer Banks and Duofold.
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