Hanesbrands Inc. (HBI) Earns “Buy” Rating from B. Riley
Hanesbrands Inc. (NYSE:HBI)‘s stock had its “buy” rating reaffirmed by investment analysts at B. Riley in a research note issued on Thursday.
Other equities research analysts have also issued research reports about the stock. Barclays PLC lowered their price target on shares of Hanesbrands from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday. Morgan Stanley lowered their price target on shares of Hanesbrands from $24.00 to $23.00 and set an “equal weight” rating on the stock in a report on Thursday. Buckingham Research lowered their price target on shares of Hanesbrands from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday. Nomura lowered their price target on shares of Hanesbrands from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $23.00 price target on shares of Hanesbrands in a report on Friday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $26.13.
Shares of Hanesbrands (NYSE:HBI) traded down $0.72 during trading on Thursday, reaching $19.36. 10,650,000 shares of the company’s stock traded hands, compared to its average volume of 5,500,000. The company has a market cap of $7,060.00, a price-to-earnings ratio of 10.30, a PEG ratio of 1.15 and a beta of 0.76. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.88 and a quick ratio of 0.89. Hanesbrands has a 12-month low of $18.91 and a 12-month high of $26.05.
Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Wednesday, November 1st. The textile maker reported $0.60 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.60. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.80 billion. Hanesbrands had a net margin of 9.43% and a return on equity of 64.73%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 EPS. sell-side analysts forecast that Hanesbrands will post 1.94 EPS for the current year.
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In related news, insider John T. Marsh sold 10,325 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $24.27, for a total transaction of $250,587.75. Following the transaction, the insider now owns 99,997 shares in the company, valued at approximately $2,426,927.19. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. lifted its position in Hanesbrands by 2.9% during the 3rd quarter. Bessemer Group Inc. now owns 5,977,411 shares of the textile maker’s stock worth $147,284,000 after buying an additional 169,250 shares in the last quarter. Sandy Spring Bank lifted its position in Hanesbrands by 5.3% during the 3rd quarter. Sandy Spring Bank now owns 209,163 shares of the textile maker’s stock worth $5,154,000 after buying an additional 10,486 shares in the last quarter. Tradition Capital Management LLC lifted its position in Hanesbrands by 14.1% during the 3rd quarter. Tradition Capital Management LLC now owns 285,235 shares of the textile maker’s stock worth $7,028,000 after buying an additional 35,275 shares in the last quarter. Jacobi Capital Management LLC lifted its position in Hanesbrands by 23.8% during the 3rd quarter. Jacobi Capital Management LLC now owns 26,035 shares of the textile maker’s stock worth $612,000 after buying an additional 5,000 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in Hanesbrands by 2.7% during the 3rd quarter. Prudential Financial Inc. now owns 522,964 shares of the textile maker’s stock worth $12,886,000 after purchasing an additional 13,550 shares during the last quarter. Institutional investors and hedge funds own 94.80% 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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