Shares of Hanesbrands Inc. (NYSE:HBI) have been given a consensus rating of “Buy” by the nineteen analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $26.96.

Several brokerages have issued reports on HBI. BidaskClub downgraded Hanesbrands from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Zacks Investment Research downgraded Hanesbrands from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Cowen and Company set a $22.00 price target on Hanesbrands and gave the stock a “hold” rating in a report on Thursday, August 24th. Barclays PLC began coverage on Hanesbrands in a report on Tuesday, September 19th. They issued an “overweight” rating and a $31.00 price target for the company. Finally, FBR & Co restated a “buy” rating and issued a $33.00 price target on shares of Hanesbrands in a report on Thursday, September 21st.

Shares of Hanesbrands (NYSE HBI) traded down 0.55% during midday trading on Wednesday, reaching $23.66. The company’s stock had a trading volume of 1,952,955 shares. The stock has a 50-day moving average of $24.52 and a 200 day moving average of $22.77. The company has a market cap of $8.62 billion, a price-to-earnings ratio of 15.50 and a beta of 0.72. Hanesbrands has a 12 month low of $18.91 and a 12 month high of $27.07.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.53. Hanesbrands had a return on equity of 64.80% and a net margin of 9.02%. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the company earned $0.51 earnings per share. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, analysts predict that Hanesbrands will post $1.99 earnings per share for the current fiscal year.

In related news, insider John T. Marsh sold 10,325 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $24.27, for a total transaction of $250,587.75. Following the completion of the transaction, the insider now directly owns 99,997 shares of the company’s stock, valued at $2,426,927.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard D. Moss sold 20,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 254,487 shares of the company’s stock, valued at $6,128,046.96. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Beacon Financial Group boosted its position in Hanesbrands by 335.7% during the third quarter. Beacon Financial Group now owns 424,272 shares of the textile maker’s stock valued at $10,454,000 after purchasing an additional 326,896 shares during the last quarter. Perpetual Ltd acquired a new position in Hanesbrands during the second quarter valued at approximately $712,000. Bogart Wealth LLC acquired a new position in Hanesbrands during the second quarter valued at approximately $366,000. Gs Investments Inc. acquired a new position in Hanesbrands during the second quarter valued at approximately $452,000. Finally, Sentry Investment Management LLC boosted its position in Hanesbrands by 0.4% during the second quarter. Sentry Investment Management LLC now owns 24,878 shares of the textile maker’s stock valued at $576,000 after purchasing an additional 109 shares during the last quarter. 94.38% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: This article was first published by American Banking News and is the property of of American Banking News. If you are accessing this article on another publication, it was illegally stolen and republished in violation of US and international trademark and copyright legislation. The original version of this article can be viewed at https://www.americanbankingnews.com/2017/10/11/hanesbrands-inc-hbi-given-average-rating-of-buy-by-brokerages-2.html.

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.

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.