Hanesbrands Given Outperform Rating at Zacks (HBI)
Hanesbrands (NYSE:HBI)‘s stock had its “outperform” rating reaffirmed by Zacks in a research note issued to investors on Friday. They currently have a $121.00 target price on the stock. Zacks‘s price target would indicate a potential upside of 20.90% from the stock’s previous close.
Zacks’ analyst wrote, “We maintain our Outperform rating on Hanesbrands following its remarkable second-quarter fiscal 2014 results and raised outlook for the year. Earnings per share of $1.71 beat the year-ago results and the Zacks Consensus Estimate by 44% and 14%, respectively. Profit was driven by higher margins backed by the increased supply chain operating efficiencies, lower selling, general and administrative costs, and successful integration of the Maidenform Brands. Sales were in line with the Zacks Consensus Estimate and it surpassed year-ago results by 12%. The company is also benefiting from favorable pricing and successful implementation of the “Innovate to Elevate” strategy. Under this strategy, the company focuses on high-priced, high-margin products that can be supplied at lower costs. Overall, we are impressed with the company’s strong brand portfolio and its continuous innovations. Moreover, it is gaining shelf space at major retail stores through deals with retail giants. “
A number of other analysts have also recently weighed in on HBI. Analysts at Nomura reiterated a “neutral” rating on shares of Hanesbrands in a research note on Thursday. They now have a $110.00 price target on the stock, up previously from $85.00. Separately, analysts at DA Davidson reiterated a “neutral” rating on shares of Hanesbrands in a research note on Thursday. They now have a $108.00 price target on the stock, up previously from $100.00. Finally, analysts at FBR Capital Markets raised their price target on shares of Hanesbrands from $111.00 to $115.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $102.36.
Hanesbrands (NYSE:HBI) traded down 0.97% on Friday, hitting $100.08. 596,590 shares of the company’s stock traded hands. Hanesbrands has a 52-week low of $58.13 and a 52-week high of $106.62. The stock’s 50-day moving average is $93.76 and its 200-day moving average is $80.0. The company has a market cap of $10.056 billion and a P/E ratio of 29.12.
Hanesbrands (NYSE:HBI) last announced its earnings results on Wednesday, July 23rd. The company reported $1.71 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.49 by $0.22. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the company posted $1.19 earnings per share. The company’s quarterly revenue was up 11.9% on a year-over-year basis. Analysts expect that Hanesbrands will post $5.31 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 3rd. Shareholders of record on Tuesday, August 12th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Friday, August 8th.
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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