Hanesbrands’ (HBI) “Buy” Rating Reiterated at FBR & Co
A number of other research firms also recently commented on HBI. BidaskClub downgraded Hanesbrands from a buy rating to a hold rating in a research note on Tuesday, August 1st. Cowen and Company set a $22.00 price target on Hanesbrands and gave the company a hold rating in a research note on Thursday, August 24th. Oppenheimer Holdings, Inc. reaffirmed a buy rating on shares of Hanesbrands in a research note on Wednesday. ValuEngine raised Hanesbrands from a hold rating to a buy rating in a research note on Thursday, July 6th. Finally, Morgan Stanley boosted their price target on Hanesbrands from $22.00 to $24.00 and gave the company an equal weight rating in a research note on Monday, August 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. Hanesbrands has an average rating of Buy and an average target price of $27.27.
Hanesbrands (HBI) traded up 1.47% during midday trading on Wednesday, hitting $23.49. 3,548,110 shares of the stock traded hands. The stock has a market capitalization of $8.56 billion, a PE ratio of 15.39 and a beta of 0.72. Hanesbrands has a 12-month low of $18.91 and a 12-month high of $27.07. The firm’s 50 day moving average is $24.38 and its 200-day moving average is $22.89.
Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.53 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.53. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. Hanesbrands had a return on equity of 64.80% and a net margin of 9.02%. Hanesbrands’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 earnings per share. On average, analysts anticipate that Hanesbrands will post $1.99 EPS for the current fiscal year.
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In other news, insider John T. Marsh sold 10,325 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $24.27, for a total transaction of $250,587.75. Following the sale, the insider now directly owns 99,997 shares in the company, valued at $2,426,927.19. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Richard D. Moss sold 20,000 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $24.08, for a total value of $481,600.00. Following the sale, the chief financial officer now owns 254,487 shares in the company, valued at $6,128,046.96. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Hanesbrands by 0.8% during the second quarter. BlackRock Inc. now owns 23,050,392 shares of the textile maker’s stock worth $533,848,000 after purchasing an additional 174,498 shares during the last quarter. State Street Corp grew its holdings in shares of Hanesbrands by 0.9% during the second quarter. State Street Corp now owns 15,512,816 shares of the textile maker’s stock worth $359,281,000 after purchasing an additional 136,465 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of Hanesbrands by 2.6% during the second quarter. Diamond Hill Capital Management Inc. now owns 10,113,900 shares of the textile maker’s stock worth $234,238,000 after purchasing an additional 260,820 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of Hanesbrands by 43.5% during the second quarter. Bessemer Group Inc. now owns 5,808,161 shares of the textile maker’s stock worth $134,518,000 after purchasing an additional 1,760,614 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of Hanesbrands by 21.2% during the first quarter. Morgan Stanley now owns 4,009,081 shares of the textile maker’s stock worth $83,228,000 after purchasing an additional 701,732 shares during the last quarter. Institutional investors own 94.53% 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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