Hanesbrands Inc. (HBI) Upgraded at ValuEngine
Hanesbrands Inc. (NYSE:HBI) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Thursday.
HBI has been the topic of a number of other reports. BidaskClub downgraded shares of Hanesbrands from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Zacks Investment Research downgraded shares of Hanesbrands from a “hold” rating to a “sell” rating in a research note on Tuesday. Vetr downgraded shares of Hanesbrands from a “strong-buy” rating to a “buy” rating and set a $23.91 target price on the stock. in a research note on Wednesday, April 19th. FBR & Co reaffirmed a “buy” rating on shares of Hanesbrands in a research note on Saturday, April 15th. Finally, Goldman Sachs Group, Inc. (The) began coverage on shares of Hanesbrands in a research note on Tuesday, March 28th. They set a “neutral” rating and a $20.00 target price on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Hanesbrands has a consensus rating of “Buy” and a consensus price target of $27.79.
Hanesbrands (NYSE:HBI) traded up 1.78% during mid-day trading on Thursday, reaching $22.93. 2,756,785 shares of the company were exchanged. Hanesbrands has a 1-year low of $18.91 and a 1-year high of $28.24. The company has a market capitalization of $8.35 billion, a price-to-earnings ratio of 16.56 and a beta of 0.74. The company has a 50 day moving average of $21.64 and a 200-day moving average of $21.44. Hanesbrands also saw unusually large options trading activity on Wednesday. Stock investors bought 4,506 put options on the company. This is an increase of 724% compared to the average volume of 547 put options.
Hanesbrands (NYSE:HBI) last issued its earnings results on Tuesday, May 2nd. The textile maker reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Hanesbrands had a net margin of 8.56% and a return on equity of 65.05%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.39 billion. On average, equities research analysts forecast that Hanesbrands will post $1.98 EPS for the current year.
TRADEMARK VIOLATION WARNING: This article was first reported by American Banking News and is the property of of American Banking News. If you are viewing this article on another site, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The correct version of this article can be viewed at https://www.americanbankingnews.com/2017/07/08/hanesbrands-inc-hbi-upgraded-at-valuengine.html.
In related news, insider W Howard Upchurch, Jr. sold 55,850 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $22.90, for a total transaction of $1,278,965.00. Following the sale, the insider now directly owns 579,663 shares of the company’s stock, valued at approximately $13,274,282.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John T. Marsh sold 11,100 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $22.57, for a total transaction of $250,527.00. The disclosure for this sale can be found here. Insiders sold a total of 152,438 shares of company stock worth $3,450,467 over the last three months. Insiders own 1.10% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Hanesbrands by 3,104.9% in the first quarter. BlackRock Inc. now owns 22,875,894 shares of the textile maker’s stock valued at $474,903,000 after buying an additional 22,162,112 shares during the last quarter. Norges Bank acquired a new stake in shares of Hanesbrands during the fourth quarter valued at $67,992,000. OMERS ADMINISTRATION Corp increased its stake in shares of Hanesbrands by 98.9% in the first quarter. OMERS ADMINISTRATION Corp now owns 5,673,506 shares of the textile maker’s stock valued at $117,782,000 after buying an additional 2,820,380 shares during the last quarter. Miller Howard Investments Inc. NY acquired a new stake in shares of Hanesbrands during the first quarter valued at $55,007,000. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Hanesbrands by 19.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 15,936,667 shares of the textile maker’s stock valued at $330,846,000 after buying an additional 2,544,916 shares during the last quarter. 93.65% of the stock is currently owned by hedge funds and other institutional investors.
Hanesbrands Inc is a marketer of basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia/Pacific under apparel brands, such as Hanes, Champion, Maidenform, DIM, Bali, Playtex, Bonds, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Gear for Sports and Berlei.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Hanesbrands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanesbrands Inc. and related companies with MarketBeat.com's FREE daily email newsletter.