Hanesbrands (NYSE:HBI) was upgraded by investment analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Thursday, June 21st.
Several other equities research analysts also recently issued reports on HBI. Credit Suisse Group started coverage on shares of Hanesbrands in a research note on Monday, March 12th. They issued a “neutral” rating and a $21.00 price objective on the stock. Macquarie assumed coverage on Hanesbrands in a report on Monday, April 2nd. They set a “neutral” rating and a $19.00 price objective for the company. Bank of America assumed coverage on Hanesbrands in a report on Friday, April 6th. They issued a “neutral” rating and a $21.00 price target for the company. Zacks Investment Research raised Hanesbrands from a “strong sell” rating to a “hold” rating and set a $20.00 price target for the company in a report on Wednesday, April 11th. Finally, DA Davidson set a $27.00 price objective on Hanesbrands and gave the stock a “buy” rating in a research report on Friday, April 13th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the stock. Hanesbrands presently has a consensus rating of “Hold” and a consensus target price of $23.97.
Hanesbrands opened at $22.02 on Thursday, Marketbeat reports. The company has a debt-to-equity ratio of 5.93, a current ratio of 2.03 and a quick ratio of 0.81. Hanesbrands has a twelve month low of $16.38 and a twelve month high of $25.73. The stock has a market cap of $7.95 billion, a PE ratio of 11.41, a price-to-earnings-growth ratio of 1.67 and a beta of 0.72.
Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Tuesday, May 1st. The textile maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.43 billion. Hanesbrands had a net margin of 1.08% and a return on equity of 75.80%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 earnings per share. equities research analysts expect that Hanesbrands will post 1.76 earnings per share for the current year.
In other news, Director David V. Singer bought 31,230 shares of the stock in a transaction on Thursday, May 17th. The shares were purchased at an average cost of $17.72 per share, for a total transaction of $553,395.60. Following the completion of the purchase, the director now directly owns 26,880 shares in the company, valued at approximately $476,313.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael E. Faircloth sold 26,922 shares of Hanesbrands stock in a transaction on Friday, June 8th. The shares were sold at an average price of $20.02, for a total value of $538,978.44. Following the completion of the transaction, the insider now owns 234,433 shares of the company’s stock, valued at $4,693,348.66. The disclosure for this sale can be found here. Insiders bought 70,620 shares of company stock worth $1,244,864 in the last 90 days. Corporate insiders own 1.06% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Vestpro Financial Partners Inc. dba CPF Texas lifted its stake in shares of Hanesbrands by 1,682.4% in the 1st quarter. Vestpro Financial Partners Inc. dba CPF Texas now owns 114,072 shares of the textile maker’s stock valued at $2,101,000 after acquiring an additional 107,672 shares during the last quarter. Financial Gravity Wealth Inc. bought a new stake in shares of Hanesbrands in the 1st quarter valued at about $251,000. Amalgamated Bank lifted its stake in shares of Hanesbrands by 9.8% in the 1st quarter. Amalgamated Bank now owns 52,586 shares of the textile maker’s stock valued at $969,000 after acquiring an additional 4,672 shares during the last quarter. Navellier & Associates Inc lifted its stake in shares of Hanesbrands by 9.9% in the 1st quarter. Navellier & Associates Inc now owns 132,521 shares of the textile maker’s stock valued at $2,441,000 after acquiring an additional 11,930 shares during the last quarter. Finally, CIBC World Markets Inc. raised its position in Hanesbrands by 76.2% during the 1st quarter. CIBC World Markets Inc. now owns 297,714 shares of the textile maker’s stock valued at $5,484,000 after purchasing an additional 128,759 shares during the last quarter. Institutional investors and hedge funds own 99.55% of the company’s stock.
Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children in the United States. The company operates through three segments: Innerwear, Activewear, and International. It sells bras, panties, men's underwear, children's underwear, activewear, socks, hosiery, intimate apparel, shapewears, and home goods; and T-shirts, fleece, sport shirts, performance T-shirts and shorts, sports bras, and thermals, as well as licensed logo apparel in collegiate bookstores, mass retailers, and other channels.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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