Hanesbrands Lowered to “Neutral” at Ned Davis Research (HBI)
Hanesbrands (NYSE:HBI) was downgraded by equities research analysts at Ned Davis Research from a “buy” rating to a “neutral” rating in a research note issued to investors on Tuesday, Analyst Ratings Network reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at FBR Capital Markets raised their price target on shares of Hanesbrands from $75.00 to $84.00 in a research note to investors on Tuesday, January 7th. They now have an “outperform” rating on the stock. Separately, analysts at Brean Capital initiated coverage on shares of Hanesbrands in a research note to investors on Thursday, December 12th. They set a “hold” rating on the stock. Finally, analysts at Zacks reiterated an “outperform” rating on shares of Hanesbrands in a research note to investors on Thursday, December 12th. They now have a $81.00 price target on the stock. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $74.13.
In other Hanesbrands news, CEO Richard Noll unloaded 30,000 shares of the stock on the open market in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $68.90, for a total value of $2,067,000.00. Following the completion of the transaction, the chief executive officer now directly owns 570,489 shares in the company, valued at approximately $39,306,692. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Hanesbrands (NYSE:HBI) traded down 0.61% during mid-day trading on Tuesday, hitting $66.80. The stock had a trading volume of 176,563 shares. Hanesbrands has a 52 week low of $36.84 and a 52 week high of $71.80. The stock’s 50-day moving average is $68.98 and its 200-day moving average is $63.61. The company has a market cap of $6.620 billion and a P/E ratio of 18.01.
Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.23 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.13 by $0.10. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the company posted $1.11 earnings per share. Hanesbrands’s revenue was down 1.7% compared to the same quarter last year. On average, analysts predict that Hanesbrands will post $3.83 earnings per share for the current fiscal year.
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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