Hanesbrands (NYSE:HBI) Price Target Raised to $7.00

Hanesbrands (NYSE:HBI) had its price objective hoisted by Barclays from $6.00 to $7.00 in a report issued on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the textile maker’s stock.

Several other equities analysts also recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a report on Monday, August 12th. UBS Group boosted their target price on shares of Hanesbrands from $5.00 to $6.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 27th. Six investment analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.00.

Hanesbrands Stock Performance

NYSE:HBI opened at $7.90 on Monday. Hanesbrands has a 52 week low of $3.58 and a 52 week high of $8.70. The company has a debt-to-equity ratio of 21.50, a current ratio of 1.49 and a quick ratio of 0.90. The firm has a 50 day moving average of $7.10 and a 200 day moving average of $5.94.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. Hanesbrands had a positive return on equity of 44.72% and a negative net margin of 5.24%. The firm had revenue of $937.10 million during the quarter, compared to analyst estimates of $936.47 million. During the same quarter in the prior year, the business posted $0.10 EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, research analysts predict that Hanesbrands will post 0.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hanesbrands

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Norden Group LLC acquired a new stake in Hanesbrands during the 1st quarter worth about $60,000. Texas Permanent School Fund Corp grew its holdings in Hanesbrands by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 305,529 shares of the textile maker’s stock worth $1,772,000 after acquiring an additional 4,325 shares during the period. Quantbot Technologies LP purchased a new position in Hanesbrands during the first quarter valued at approximately $633,000. Inspire Advisors LLC lifted its holdings in Hanesbrands by 8.6% in the first quarter. Inspire Advisors LLC now owns 44,447 shares of the textile maker’s stock valued at $258,000 after acquiring an additional 3,511 shares during the period. Finally, Avantax Advisory Services Inc. boosted its position in Hanesbrands by 13.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 25,432 shares of the textile maker’s stock worth $148,000 after purchasing an additional 3,043 shares in the last quarter. Institutional investors and hedge funds own 80.31% of the company’s stock.

About Hanesbrands

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of range of innerwear apparels for men, women, and children in the Americas, Europe, the Asia pacific, and internationally. The company operates through three segments: Innerwear, Activewear, and International.