Shares of Hanesbrands Inc. (NYSE:HBI) have been given a consensus rating of “Hold” by the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $17.56.
A number of equities research analysts recently issued reports on HBI shares. Bank of America dropped their price target on shares of Hanesbrands from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Citigroup reduced their price target on Hanesbrands from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. UBS Group reduced their price target on Hanesbrands from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Finally, ValuEngine upgraded Hanesbrands from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd.
In related news, insider Joia M. Johnson acquired 7,100 shares of Hanesbrands stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average cost of $13.97 per share, for a total transaction of $99,187.00. Following the acquisition, the insider now owns 115,830 shares in the company, valued at $1,618,145.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gerald Evans acquired 10,000 shares of Hanesbrands stock in a transaction that occurred on Wednesday, August 7th. The stock was bought at an average price of $14.74 per share, for a total transaction of $147,400.00. Following the completion of the acquisition, the chief executive officer now owns 1,655,880 shares in the company, valued at approximately $24,407,671.20. The disclosure for this purchase can be found here. 1.04% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Golden State Wealth Management LLC boosted its holdings in Hanesbrands by 511.7% in the second quarter. Golden State Wealth Management LLC now owns 2,514 shares of the textile maker’s stock valued at $43,000 after purchasing an additional 2,103 shares in the last quarter. Private Ocean LLC purchased a new position in Hanesbrands in the second quarter valued at about $49,000. Redhawk Wealth Advisors Inc. purchased a new position in Hanesbrands in the second quarter valued at about $49,000. Stonebridge Capital Advisors LLC acquired a new stake in shares of Hanesbrands in the second quarter worth about $49,000. Finally, Investors Research Corp lifted its position in shares of Hanesbrands by 22.2% in the second quarter. Investors Research Corp now owns 3,300 shares of the textile maker’s stock worth $57,000 after buying an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 90.22% of the company’s stock.
Hanesbrands stock traded up $0.51 during trading on Monday, reaching $15.26. The company had a trading volume of 3,385,288 shares, compared to its average volume of 4,217,974. The firm’s 50-day simple moving average is $14.53 and its 200 day simple moving average is $16.18. Hanesbrands has a 1-year low of $11.57 and a 1-year high of $19.38. The firm has a market capitalization of $5.23 billion, a PE ratio of 8.92, a price-to-earnings-growth ratio of 1.89 and a beta of 1.17. The company has a debt-to-equity ratio of 3.56, a quick ratio of 0.69 and a current ratio of 1.77.
Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Thursday, August 1st. The textile maker reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. Hanesbrands had a net margin of 8.13% and a return on equity of 63.57%. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter last year, the company earned $0.45 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts anticipate that Hanesbrands will post 1.76 EPS for the current year.
Hanesbrands Company Profile
Hanesbrands, Inc is a consumer goods company, which engages in the design, manufacture, sourcing, and sale of everyday basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia Pacific. It operates through the following three segments: Innerwear, Activewear and International.
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