Hanesbrands Inc. (NYSE:HBI) Stock Rating Reaffirmed by Buckingham Research
Hanesbrands Inc. (NYSE:HBI)‘s stock had its “buy” rating reissued by research analysts at Buckingham Research in a research note issued on Monday. They currently have a $30.00 price objective on the textile maker’s stock. Buckingham Research’s price objective indicates a potential upside of 32.22% from the company’s current price.
Other equities analysts also recently issued research reports about the stock. FBR & Co reiterated a “buy” rating on shares of Hanesbrands in a report on Saturday, April 15th. Oppenheimer Holdings, Inc. set a $32.00 price target on shares of Hanesbrands and gave the company a “buy” rating in a report on Wednesday, April 12th. DA Davidson set a $27.00 price target on shares of Hanesbrands and gave the company a “buy” rating in a report on Saturday, April 8th. Vetr downgraded shares of Hanesbrands from a “strong-buy” rating to a “buy” rating and set a $23.91 target price for the company. in a report on Wednesday, April 19th. Finally, BidaskClub upgraded shares of Hanesbrands from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Hanesbrands has an average rating of “Buy” and a consensus price target of $27.74.
Shares of Hanesbrands (NYSE:HBI) opened at 22.69 on Monday. The stock’s 50 day moving average is $21.64 and its 200-day moving average is $21.44. Hanesbrands has a 1-year low of $18.91 and a 1-year high of $28.24. The stock has a market cap of $8.26 billion, a PE ratio of 16.38 and a beta of 0.74.
Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Tuesday, May 2nd. The textile maker reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.01. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.39 billion. Hanesbrands had a net margin of 8.56% and a return on equity of 65.05%. On average, analysts predict that Hanesbrands will post $1.98 EPS for the current fiscal year.
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In other Hanesbrands news, CEO Gerald Evans sold 42,109 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $21.74, for a total transaction of $915,449.66. Following the sale, the chief executive officer now directly owns 1,061,098 shares of the company’s stock, valued at approximately $23,068,270.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider W Howard Upchurch, Jr. sold 55,850 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was 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 in the company, valued at $13,274,282.70. The disclosure for this sale can be found here. Insiders have sold a total of 152,438 shares of company stock worth $3,450,467 over the last ninety days. 1.10% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Cascade Investment Advisors Inc. boosted its stake in Hanesbrands by 4.0% in the second quarter. Cascade Investment Advisors Inc. now owns 45,075 shares of the textile maker’s stock valued at $1,044,000 after buying an additional 1,725 shares in the last quarter. Boyd Watterson Asset Management LLC OH boosted its stake in Hanesbrands by 8.5% in the second quarter. Boyd Watterson Asset Management LLC OH now owns 60,926 shares of the textile maker’s stock valued at $1,411,000 after buying an additional 4,792 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in Hanesbrands by 508.7% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 61,485 shares of the textile maker’s stock valued at $1,424,000 after buying an additional 51,384 shares in the last quarter. Woodstock Corp boosted its stake in Hanesbrands by 1.5% in the second quarter. Woodstock Corp now owns 326,977 shares of the textile maker’s stock valued at $7,573,000 after buying an additional 4,960 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in Hanesbrands by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 36,242 shares of the textile maker’s stock valued at $840,000 after buying an additional 202 shares in the last quarter. 92.47% of the stock is currently owned by institutional investors.
Hanesbrands Company Profile
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.
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