Cowen and Company Reiterates “$22.00” Price Target for Hanesbrands Inc. (HBI)
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.
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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.
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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