Hanesbrands Inc. (HBI) PT Set at $22.00 by Cowen and Company
Hanesbrands Inc. (NYSE:HBI) has been assigned a $22.00 target price by Cowen and Company in a research note issued to investors on Thursday. The firm currently has a “hold” rating on the textile maker’s stock. Cowen and Company’s price objective points to a potential downside of 9.35% from the stock’s current price.
A number of other research firms have also commented on HBI. UBS AG reiterated a “buy” rating and issued a $27.00 price objective (up from $25.00) on shares of Hanesbrands in a research note on Tuesday, August 8th. Zacks Investment Research lowered Hanesbrands from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. BidaskClub upgraded Hanesbrands from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Morgan Stanley lifted their price objective on Hanesbrands from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, August 7th. Finally, Vetr lowered Hanesbrands from a “strong-buy” rating to a “buy” rating and set a $26.36 price objective on the stock. in a research note on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $27.18.
Hanesbrands (HBI) opened at 24.27 on Thursday. Hanesbrands has a 12 month low of $18.91 and a 12 month high of $27.44. The firm has a market capitalization of $8.85 billion, a P/E ratio of 15.90 and a beta of 0.73. The stock’s 50 day moving average price is $23.52 and its 200-day moving average price is $21.81.
Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.53 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.53. Hanesbrands had a return on equity of 64.80% and a net margin of 9.02%. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, analysts forecast that Hanesbrands will post $1.99 earnings per share for the current year.
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In related news, insider John T. Marsh sold 11,100 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $22.57, for a total transaction of $250,527.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider W Howard Upchurch, Jr. sold 55,850 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $22.90, for a total value of $1,278,965.00. Following the transaction, the insider now owns 579,663 shares in the company, valued at $13,274,282.70. The disclosure for this sale can be found here. Insiders have sold 130,329 shares of company stock worth $3,016,617 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC raised its position in shares of Hanesbrands by 25.0% in the first quarter. Lazard Asset Management LLC now owns 5,000 shares of the textile maker’s stock valued at $103,000 after buying an additional 1,000 shares in the last quarter. QS Investors LLC raised its stake in Hanesbrands by 2.8% in the second quarter. QS Investors LLC now owns 5,100 shares of the textile maker’s stock valued at $118,000 after buying an additional 140 shares in the last quarter. Van ECK Associates Corp raised its stake in Hanesbrands by 7.4% in the first quarter. Van ECK Associates Corp now owns 5,995 shares of the textile maker’s stock valued at $124,000 after buying an additional 415 shares in the last quarter. Washington Trust Bank raised its stake in Hanesbrands by 50.0% in the second quarter. Washington Trust Bank now owns 6,000 shares of the textile maker’s stock valued at $139,000 after buying an additional 2,000 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its stake in Hanesbrands by 11.6% in the first quarter. SRS Capital Advisors Inc. now owns 6,812 shares of the textile maker’s stock valued at $141,000 after buying an additional 708 shares in the last quarter. Hedge funds and other institutional investors own 94.54% of the company’s stock.
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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