Hanesbrands Inc. (HBI) Given Average Rating of “Buy” by Brokerages
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.
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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