Hanesbrands Inc. (HBI) PT Lowered to $21.00
Hanesbrands Inc. (NYSE:HBI) had its price objective cut by research analysts at Nomura from $24.00 to $21.00 in a research note issued on Thursday. The brokerage presently has a “neutral” rating on the textile maker’s stock.
A number of other brokerages have also recently weighed in on HBI. BidaskClub cut Hanesbrands from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Cowen and Company set a $22.00 price objective on Hanesbrands and gave the company a “hold” rating in a research note on Thursday, August 24th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Hanesbrands in a research note on Wednesday, October 18th. ValuEngine raised Hanesbrands from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, Morgan Stanley boosted their target price on Hanesbrands from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, August 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the stock. Hanesbrands has a consensus rating of “Hold” and an average target price of $26.13.
Hanesbrands (NYSE:HBI) last issued its quarterly earnings data on Wednesday, November 1st. The textile maker reported $0.60 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.60. Hanesbrands had a return on equity of 64.80% and a net margin of 9.02%. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the firm posted $0.56 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis.
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In other Hanesbrands news, insider John T. Marsh sold 10,325 shares of Hanesbrands stock in a transaction dated 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 sale, the insider now directly owns 99,997 shares of the company’s stock, valued at approximately $2,426,927.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard D. Moss sold 20,000 shares of Hanesbrands stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $24.08, for a total value of $481,600.00. Following the sale, 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. 1.10% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in HBI. Sasco Capital Inc. CT purchased a new stake in shares of Hanesbrands in the 2nd quarter valued at about $57,945,000. Morningstar Investment Services LLC lifted its holdings in shares of Hanesbrands by 360.9% in the 2nd quarter. Morningstar Investment Services LLC now owns 3,034,052 shares of the textile maker’s stock valued at $70,269,000 after purchasing an additional 2,375,811 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Hanesbrands by 43.5% in the 2nd quarter. Bessemer Group Inc. now owns 5,808,161 shares of the textile maker’s stock valued at $134,518,000 after purchasing an additional 1,760,614 shares during the last quarter. Sabal Trust CO purchased a new stake in shares of Hanesbrands in the 3rd quarter valued at about $25,479,000. Finally, USS Investment Management Ltd purchased a new stake in shares of Hanesbrands in the 2nd quarter valued at about $20,937,000. 94.80% of the stock is owned by institutional investors.
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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