Hanesbrands Inc. (HBI) Rating Lowered to Hold at ValuEngine
Hanesbrands Inc. (NYSE:HBI) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
A number of other research analysts have also weighed in on HBI. BidaskClub upgraded Hanesbrands from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Credit Suisse Group set a $28.00 price objective on Hanesbrands and gave the company a “buy” rating in a report on Thursday, July 27th. Buckingham Research restated a “buy” rating and issued a $30.00 price objective on shares of Hanesbrands in a report on Monday, July 17th. Vetr lowered Hanesbrands from a “strong-buy” rating to a “buy” rating and set a $26.36 price objective on the stock. in a report on Monday, August 7th. Finally, UBS AG restated a “buy” rating and issued a $27.00 price objective (up previously from $25.00) on shares of Hanesbrands in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $27.18.
Shares of Hanesbrands (NYSE:HBI) opened at 24.75 on Friday. The stock’s 50 day moving average is $23.73 and its 200 day moving average is $21.96. Hanesbrands has a 52-week low of $18.91 and a 52-week high of $27.67. The company has a market cap of $9.02 billion, a PE ratio of 16.22 and a beta of 0.73.
Hanesbrands (NYSE:HBI) last announced its earnings results on Tuesday, August 1st. The textile maker reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. Hanesbrands had a return on equity of 64.80% and a net margin of 9.02%. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the firm posted $0.51 EPS. The business’s revenue was up 11.8% on a year-over-year basis. Equities analysts forecast that Hanesbrands will post $1.99 EPS for the current year.
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In related news, insider John T. Marsh sold 11,100 shares of the firm’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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John T. Marsh sold 10,325 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $24.27, for a total value of $250,587.75. Following the transaction, the insider now owns 99,997 shares of the company’s stock, valued at $2,426,927.19. The disclosure for this sale can be found here. Insiders have sold a total of 140,654 shares of company stock valued at $3,267,205 over the last 90 days. 1.10% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Lazard Asset Management LLC boosted 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 during the last quarter. QS Investors LLC boosted its position in shares of 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 during the last quarter. Van ECK Associates Corp boosted its position in shares of 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 during the last quarter. Washington Trust Bank boosted its position in shares of 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 during the last quarter. Finally, SRS Capital Advisors Inc. boosted its position in shares of 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 during the last quarter. Institutional investors own 94.33% of the company’s stock.
Hanesbrands Company Profile
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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