HanesBrands Inc. (NYSE:HBI) Receives $34.64 Consensus Target Price from Brokerages
Shares of HanesBrands Inc. (NYSE:HBI) have received a consensus rating of “Buy” from the fifteen ratings firms that are currently covering the firm. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $34.64.
Several research analysts have recently commented on the company. Zacks Investment Research upgraded HanesBrands from a “sell” rating to a “hold” rating in a research note on Tuesday, August 23rd. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $35.00 price target on shares of HanesBrands in a report on Tuesday, August 2nd. Brean Capital reissued a “buy” rating and set a $37.00 price target on shares of HanesBrands in a report on Tuesday, June 14th. Credit Suisse Group AG reissued a “buy” rating and set a $37.00 price target on shares of HanesBrands in a report on Wednesday, September 14th. Finally, FBR & Co reissued an “outperform” rating and set a $39.00 price target on shares of HanesBrands in a report on Thursday, July 7th.
Shares of HanesBrands (NYSE:HBI) opened at 25.30 on Friday. The firm has a 50-day moving average price of $26.24 and a 200-day moving average price of $26.83. The company has a market capitalization of $9.56 billion, a PE ratio of 20.30 and a beta of 0.94. HanesBrands has a 12 month low of $23.25 and a 12 month high of $33.24.
HanesBrands (NYSE:HBI) last issued its earnings results on Tuesday, August 2nd. The company reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.01. HanesBrands had a return on equity of 59.48% and a net margin of 8.60%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the firm posted $0.50 earnings per share. The business’s revenue was down 3.4% compared to the same quarter last year. On average, equities research analysts predict that HanesBrands will post $1.92 EPS for the current year.
In other news, CEO Richard A. Noll acquired 20,000 shares of HanesBrands stock in a transaction that occurred on Tuesday, August 9th. The shares were acquired at an average price of $25.74 per share, for a total transaction of $514,800.00. Following the transaction, the chief executive officer now directly owns 870,077 shares of the company’s stock, valued at approximately $22,395,781.98. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Washington Trust Bank raised its stake in shares of HanesBrands by 0.8% in the third quarter. Washington Trust Bank now owns 4,033 shares of the company’s stock worth $102,000 after buying an additional 33 shares in the last quarter. First Personal Financial Services purchased a new stake in shares of HanesBrands during the second quarter worth $104,000. Mizuho Asset Management Co. Ltd. raised its stake in shares of HanesBrands by 102.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 4,937 shares of the company’s stock worth $124,000 after buying an additional 2,493 shares in the last quarter. Feltz Wealth PLAN Inc. purchased a new stake in shares of HanesBrands during the second quarter worth $132,000. Finally, Pinkerton Retirement Specialists LLC purchased a new stake in shares of HanesBrands during the second quarter worth $135,000. Institutional investors and hedge funds own 91.31% of the company’s stock.
Hanesbrands Inc is a manufacturer and marketer of apparels. The Company operates through four segments: Innerwear, Activewear, Direct to Consumer and International. The Company’s portfolio of brands includes Hanes, Champion, Maidenform, DIM, Playtex, Bali, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Lilyette and Gear for Sports.
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