Hanesbrands Inc. (NYSE:HBI) received a $22.00 price objective from stock analysts at Cowen and Company in a research note issued on Thursday. The brokerage currently has a “hold” rating on the textile maker’s stock. Cowen and Company’s price objective suggests a potential downside of 7.76% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on HBI. BidaskClub upgraded Hanesbrands from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Vetr downgraded Hanesbrands from a “strong-buy” rating to a “buy” rating and set a $26.36 price target for the company. in a report on Monday, August 7th. Zacks Investment Research downgraded Hanesbrands from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. UBS AG reiterated a “buy” rating and issued a $27.00 price target (up from $25.00) on shares of Hanesbrands in a report on Tuesday, August 8th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $30.00 price target on shares of Hanesbrands in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $27.18.

Hanesbrands (HBI) traded up 1.53% during mid-day trading on Thursday, reaching $23.85. 2,631,971 shares of the company were exchanged. The firm has a market capitalization of $8.69 billion, a P/E ratio of 15.63 and a beta of 0.73. The stock has a 50-day moving average of $23.45 and a 200 day moving average of $21.76. Hanesbrands has a 1-year low of $18.91 and a 1-year high of $27.77.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.53 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.53. Hanesbrands had a return on equity of 64.80% and a net margin of 9.02%. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the business earned $0.51 EPS. The business’s quarterly revenue was up 11.8% on a year-over-year basis. Equities research analysts forecast that Hanesbrands will post $1.99 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “Cowen and Company Reiterates “$22.00” Price Target for Hanesbrands Inc. (HBI)” was originally posted by American Banking News and is owned by of American Banking News. If you are accessing this story on another domain, it was stolen and republished in violation of international copyright and trademark legislation. The legal version of this story can be viewed at https://www.americanbankingnews.com/2017/08/24/cowen-and-company-reiterates-22-00-price-target-for-hanesbrands-inc-hbi.html.

In other news, insider John T. Marsh sold 11,100 shares of the company’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $22.57, for a total value of $250,527.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard D. Moss sold 20,000 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $24.08, for a total value of $481,600.00. Following the completion of the sale, the chief financial officer now owns 254,487 shares of the company’s stock, valued at approximately $6,128,046.96. The disclosure for this sale can be found here. Insiders have sold a total of 130,329 shares of company stock valued at $3,016,617 in the last quarter. 1.10% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in HBI. Strs Ohio raised its stake in shares of Hanesbrands by 0.7% in the first quarter. Strs Ohio now owns 482,948 shares of the textile maker’s stock valued at $10,026,000 after buying an additional 3,571 shares during the period. Vanguard Group Inc. raised its stake in shares of Hanesbrands by 6.2% in the first quarter. Vanguard Group Inc. now owns 36,962,193 shares of the textile maker’s stock valued at $767,336,000 after buying an additional 2,158,679 shares during the period. Park Avenue Institutional Advisers LLC purchased a new stake in shares of Hanesbrands during the first quarter valued at $534,000. Bank of Montreal Can raised its stake in shares of Hanesbrands by 41.3% in the first quarter. Bank of Montreal Can now owns 375,297 shares of the textile maker’s stock valued at $7,790,000 after buying an additional 109,679 shares during the period. Finally, BB&T Corp raised its stake in shares of Hanesbrands by 3.2% in the second quarter. BB&T Corp now owns 561,111 shares of the textile maker’s stock valued at $12,995,000 after buying an additional 17,312 shares during the period. Institutional investors and hedge funds own 94.54% of the company’s stock.

About Hanesbrands

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.

Analyst Recommendations for Hanesbrands (NYSE:HBI)

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.