Hanesbrands Inc. (HBI) Upgraded to Strong-Buy at Vetr Inc.
Hanesbrands Inc. (NYSE:HBI) was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Monday. The brokerage currently has a $26.36 price target on the textile maker’s stock. Vetr‘s target price would suggest a potential upside of 12.03% from the company’s previous close.
Several other research firms have also commented on HBI. UBS AG reaffirmed a “buy” rating and set a $27.00 target price (up from $25.00) on shares of Hanesbrands in a report on Tuesday, August 8th. Zacks Investment Research lowered Hanesbrands from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. BidaskClub raised Hanesbrands from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Morgan Stanley upped their target price on Hanesbrands from $22.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, August 7th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $30.00 target price on shares of Hanesbrands in a report on Thursday, August 3rd. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Hanesbrands currently has a consensus rating of “Buy” and an average price target of $27.57.
Shares of Hanesbrands (NYSE HBI) opened at 23.53 on Monday. The firm has a 50-day moving average price of $23.44 and a 200-day moving average price of $21.73. Hanesbrands has a 52-week low of $18.91 and a 52-week high of $28.24. The firm has a market cap of $8.58 billion, a price-to-earnings ratio of 15.42 and a beta of 0.73.
Hanesbrands (NYSE:HBI) last posted its earnings results on Tuesday, August 1st. The textile maker reported $0.53 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.53. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. Hanesbrands had a return on equity of 64.80% and a net margin of 9.02%. The business’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 earnings per share. Analysts predict that Hanesbrands will post $1.99 EPS for the current fiscal year.
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In other Hanesbrands news, CEO Gerald Evans sold 43,379 shares of the stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $23.18, for a total transaction of $1,005,525.22. Following the completion of the transaction, the chief executive officer now directly owns 1,056,314 shares of the company’s stock, valued at approximately $24,485,358.52. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Richard D. Moss sold 20,000 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $24.08, for a total value of $481,600.00. Following the transaction, the chief financial officer now directly owns 254,487 shares of the company’s stock, valued at $6,128,046.96. The disclosure for this sale can be found here. Insiders sold a total of 130,329 shares of company stock valued at $3,016,617 over the last three months. Corporate insiders own 1.10% of the company’s stock.
A number of institutional investors have recently modified their holdings of HBI. Strs Ohio raised its position in shares of Hanesbrands by 0.7% in the first quarter. Strs Ohio now owns 482,948 shares of the textile maker’s stock worth $10,026,000 after buying an additional 3,571 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Hanesbrands by 6.2% in the first quarter. Vanguard Group Inc. now owns 36,962,193 shares of the textile maker’s stock worth $767,336,000 after buying an additional 2,158,679 shares during the last quarter. Park Avenue Institutional Advisers LLC purchased a new position in shares of Hanesbrands during the first quarter worth about $534,000. Bank of Montreal Can raised its position in shares of Hanesbrands by 41.3% in the first quarter. Bank of Montreal Can now owns 375,297 shares of the textile maker’s stock worth $7,790,000 after buying an additional 109,679 shares during the last quarter. Finally, BB&T Corp raised its position in shares of Hanesbrands by 3.2% in the second quarter. BB&T Corp now owns 561,111 shares of the textile maker’s stock worth $12,995,000 after buying an additional 17,312 shares during the last quarter. 94.54% of the stock is owned by hedge funds and other institutional investors.
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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