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Hanesbrands (NYSE: HBI) was the recipient of a ratings changes during the seven days:

  • Hanesbrands had its price target raised by analysts at FBR Capital Markets from $88.00 to $100.00. They now have an “outperform” rating on the stock.
  • Hanesbrands was upgraded by analysts at Brean Capital from a “hold” rating to a “buy” rating. They now have a $110.00 price target on the stock.
  • Hanesbrands had its “overweight” rating reaffirmed by analysts at Barclays. They now have a $115.00 price target on the stock, up previously from $90.00.
  • Hanesbrands had its price target raised by analysts at DA Davidson from $89.00 to $100.00. They now have a “neutral” rating on the stock. They wrote, “Hanesbrands announced its intention to acquire DBApparel of France from private equity firm Sun Capital Partners for approximately €400 million ($550 million), which represents a 7.5x EV/EBITDA multiple. On a post-synergy basis, the purchase price multiple is expected to be less than 4x EBITDA. The acquisition is expected to be funded with cash on hand and debt; a $500 million institutional debt offering in European markets is being considered. With 2H cash flows, the adjusted leverage ratio is expected to be slightly north of 2x by year end. “The transaction is expected to be accretive to earnings in the first 12 months, adding approximately $0.25 to earnings excluding acquisition costs. Upon full realization of operational synergies in 3-4 years, DBA could contribute $875 million in sales, $125 million operating profit, and $1.00 EPS. The deal could close as early as 3Q14, subject to customary closing conditions.”
  • Hanesbrands had its “buy” rating reaffirmed by analysts at Citigroup Inc.. They now have a $113.00 price target on the stock, up previously from $87.00.

Shares of Hanesbrands Inc. (NYSE:HBI) traded up 0.19% on Monday, hitting $98.44. 861,438 shares of the company’s stock traded hands. Hanesbrands Inc. has a one year low of $51.53 and a one year high of $98.80. The stock has a 50-day moving average of $85.8 and a 200-day moving average of $76.14. The company has a market cap of $9.802 billion and a price-to-earnings ratio of 31.21.

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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