FBR & Co Reaffirms “Buy” Rating for Hanesbrands Inc. (HBI)
Hanesbrands Inc. (NYSE:HBI)‘s stock had its “buy” rating restated by equities research analysts at FBR & Co in a research note issued to investors on Wednesday.
HBI has been the topic of a number of other research reports. Buckingham Research reaffirmed a “buy” rating and issued a $30.00 target price on shares of Hanesbrands in a research note on Monday, July 17th. BidaskClub lowered Hanesbrands from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Zacks Investment Research lowered Hanesbrands from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Vetr lowered Hanesbrands from a “strong-buy” rating to a “buy” rating and set a $26.36 target price on the stock. in a research note on Monday, August 7th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $23.00 target price on shares of Hanesbrands in a research note on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Hanesbrands has an average rating of “Buy” and an average price target of $27.27.
Shares of Hanesbrands (NYSE:HBI) traded up 0.713% during trading on Wednesday, reaching $23.295. The company had a trading volume of 5,961,057 shares. The firm has a market capitalization of $8.49 billion, a P/E ratio of 15.265 and a beta of 0.72. Hanesbrands has a 12 month low of $18.91 and a 12 month high of $27.07. The firm’s 50 day moving average price is $24.53 and its 200 day moving average price is $22.83.
Hanesbrands (NYSE:HBI) last posted its earnings results on Tuesday, August 1st. The textile maker reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. Hanesbrands had a return on equity of 64.80% and a net margin of 9.02%. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the company earned $0.51 EPS. Hanesbrands’s revenue was up 11.8% on a year-over-year basis. Equities analysts predict that Hanesbrands will post $1.99 EPS for the current year.
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In related news, CFO Richard D. Moss sold 20,000 shares of the stock in a transaction on Friday, August 4th. The stock was 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 approximately $6,128,046.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John T. Marsh sold 10,325 shares of the stock in a transaction on Monday, August 28th. The shares were sold at an average price of $24.27, for a total value of $250,587.75. Following the completion of the sale, the insider now owns 99,997 shares of the company’s stock, valued at $2,426,927.19. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Engine Capital Management LLC acquired a new stake in Hanesbrands in the 4th quarter valued at $20,000,000. Archford Capital Strategies LLC increased its holdings in Hanesbrands by 283.4% in the 2nd quarter. Archford Capital Strategies LLC now owns 1,687 shares of the textile maker’s stock valued at $141,000 after purchasing an additional 1,247 shares in the last quarter. IHT Wealth Management LLC increased its holdings in Hanesbrands by 101.1% in the 2nd quarter. IHT Wealth Management LLC now owns 2,652 shares of the textile maker’s stock valued at $159,000 after purchasing an additional 1,333 shares in the last quarter. Global X Management Co. LLC increased its holdings in Hanesbrands by 98.3% in the 3rd quarter. Global X Management Co. LLC now owns 4,030 shares of the textile maker’s stock valued at $102,000 after purchasing an additional 1,998 shares in the last quarter. Finally, Washington Trust Bank increased its holdings in Hanesbrands by 0.8% in the 3rd quarter. Washington Trust Bank now owns 4,033 shares of the textile maker’s stock valued at $102,000 after purchasing an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 94.53% 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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