UBS AG Reiterates “Buy” Rating for Hanesbrands Inc. (HBI)
Hanesbrands Inc. (NYSE:HBI)‘s stock had its “buy” rating reaffirmed by UBS AG in a research report issued to clients and investors on Tuesday, www.flashratings.com reports. They presently have a $27.00 target price on the textile maker’s stock, up from their previous target price of $25.00. UBS AG’s target price points to a potential upside of 9.67% from the company’s current price.
Other equities analysts also recently issued research reports about the stock. FBR & Co reissued a “buy” rating on shares of Hanesbrands in a research note on Saturday, April 15th. Zacks Investment Research raised Hanesbrands from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Tuesday. ValuEngine downgraded Hanesbrands from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub raised Hanesbrands from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Finally, Morgan Stanley upped their price target on Hanesbrands from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $27.57.
Hanesbrands (HBI) traded up 1.36% on Tuesday, reaching $24.62. The company had a trading volume of 7,161,097 shares. The company has a market capitalization of $9.01 billion, a P/E ratio of 16.13 and a beta of 0.73. The stock’s 50-day moving average is $22.99 and its 200-day moving average is $21.64. Hanesbrands has a 52 week low of $18.91 and a 52 week high of $28.24.
Hanesbrands (NYSE:HBI) last issued its quarterly earnings data on Tuesday, August 1st. The textile maker reported $0.53 EPS for the quarter, hitting analysts’ consensus estimates of $0.53. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. Hanesbrands had a net margin of 9.02% and a return on equity of 64.80%. Hanesbrands’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 earnings per share. Equities research analysts forecast that Hanesbrands will post $1.99 EPS for the current fiscal year.
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In other Hanesbrands news, insider John T. Marsh sold 11,100 shares of the company’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $22.57, for a total value of $250,527.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider W Howard Upchurch, Jr. sold 55,850 shares of the company’s stock in a transaction 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 completion of 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. Over the last ninety days, insiders sold 130,329 shares of company stock worth $3,016,617. 1.10% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Lazard Asset Management LLC raised its stake in Hanesbrands by 25.0% in the first quarter. Lazard Asset Management LLC now owns 5,000 shares of the textile maker’s stock valued at $103,000 after buying an additional 1,000 shares during the last quarter. Van ECK Associates Corp raised its stake in Hanesbrands by 7.4% in the first quarter. Van ECK Associates Corp now owns 5,995 shares of the textile maker’s stock valued at $124,000 after buying an additional 415 shares during the last quarter. Carroll Financial Associates Inc. raised its stake in Hanesbrands by 24.4% in the first quarter. Carroll Financial Associates Inc. now owns 5,997 shares of the textile maker’s stock valued at $124,000 after buying an additional 1,177 shares during the last quarter. Washington Trust Bank raised its stake in Hanesbrands by 50.0% in the second quarter. Washington Trust Bank now owns 6,000 shares of the textile maker’s stock valued at $139,000 after buying an additional 2,000 shares during the last quarter. Finally, SRS Capital Advisors Inc. raised its stake in Hanesbrands by 11.6% in the first quarter. SRS Capital Advisors Inc. now owns 6,812 shares of the textile maker’s stock valued at $141,000 after buying an additional 708 shares during the last quarter. 93.68% of the stock is currently owned by 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.
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