Hanesbrands’ (HBI) “Buy” Rating Reaffirmed at Brean Capital
Hanesbrands Inc. (NYSE:HBI)‘s stock had its “buy” rating restated by equities researchers at Brean Capital in a research report issued on Wednesday.
A number of other brokerages have also commented on HBI. Credit Suisse Group restated a “buy” rating and set a $37.00 price objective on shares of Hanesbrands in a research report on Wednesday, September 14th. Cowen and Company lowered Hanesbrands from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $33.00 to $27.00 in a research report on Wednesday, October 12th. FBR & Co set a $39.00 price target on Hanesbrands and gave the stock a “buy” rating in a research note on Sunday, October 30th. Zacks Investment Research raised Hanesbrands from a “sell” rating to a “hold” rating in a research note on Tuesday, November 22nd. Finally, Oppenheimer Holdings, Inc. set a $35.00 price target on Hanesbrands and gave the stock a “buy” rating in a research note on Thursday, October 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $33.15.
Hanesbrands (NYSE:HBI) traded down 2.23% during mid-day trading on Wednesday, reaching $21.93. 4,906,091 shares of the company were exchanged. Hanesbrands has a 12 month low of $21.40 and a 12 month high of $31.36. The company has a market cap of $8.29 billion, a P/E ratio of 16.96 and a beta of 0.94. The stock’s 50-day moving average is $22.61 and its 200-day moving average is $25.02.
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Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.56 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.56. Hanesbrands had a return on equity of 61.39% and a net margin of 8.55%. The firm earned $1.76 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the company posted $0.50 EPS. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. Equities analysts expect that Hanesbrands will post $1.90 earnings per share for the current year.
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In other Hanesbrands news, Director Jessica Tuchman Mathews sold 5,433 shares of Hanesbrands stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $24.52, for a total value of $133,217.16. Following the transaction, the director now directly owns 127,839 shares of the company’s stock, valued at approximately $3,134,612.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.00% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. Washington Trust Bank raised its stake in shares of Hanesbrands by 0.8% in the third quarter. Washington Trust Bank now owns 4,033 shares of the company’s stock valued at $102,000 after buying an additional 33 shares during the last quarter. Global X Management Co. LLC raised its stake in shares of Hanesbrands by 98.3% in the third quarter. Global X Management Co. LLC now owns 4,030 shares of the company’s stock valued at $102,000 after buying an additional 1,998 shares during the last quarter. Kernodle & Katon Asset Management Group LLC purchased a new stake in shares of Hanesbrands during the third quarter valued at $114,000. Mizuho Asset Management Co. Ltd. raised its stake in shares of Hanesbrands by 102.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 4,937 shares of the company’s stock valued at $124,000 after buying an additional 2,493 shares during the last quarter. Finally, MSI Financial Services Inc raised its stake in shares of Hanesbrands by 19.0% in the third quarter. MSI Financial Services Inc now owns 5,235 shares of the company’s stock valued at $132,000 after buying an additional 836 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors.
Hanesbrands Company Profile
Hanesbrands Inc is a manufacturer and marketer of apparels. The Company operates through four segments: Innerwear, Activewear, Direct to Consumer and International. The Company’s portfolio of brands includes Hanes, Champion, Maidenform, DIM, Playtex, Bali, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Lilyette and Gear for Sports.
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