Hanesbrands Inc. (NYSE:HBI) was downgraded by equities researchers at UBS AG from an “outperform” rating to a “market perform” rating in a report issued on Tuesday.

Several other analysts also recently issued reports on HBI. BidaskClub upgraded Hanesbrands from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Vetr downgraded Hanesbrands from a “strong-buy” rating to a “buy” rating and set a $26.36 price target for the company. in a research note on Monday, August 7th. Zacks Investment Research downgraded Hanesbrands from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. FBR & Co restated a “buy” rating on shares of Hanesbrands in a research note on Wednesday, October 18th. Finally, TheStreet downgraded Hanesbrands from a “b” rating to a “c+” rating in a research report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $27.37.

Shares of Hanesbrands (HBI) opened at 22.86 on Tuesday. Hanesbrands has a 52-week low of $18.91 and a 52-week high of $27.07. The company has a market capitalization of $8.33 billion, a PE ratio of 14.98 and a beta of 0.72. The stock has a 50 day moving average price of $24.32 and a 200 day moving average price of $22.94.

Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.53 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ 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%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 EPS. On average, analysts predict that Hanesbrands will post $1.99 earnings per share for the current fiscal year.

WARNING: This piece was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.thecerbatgem.com/2017/10/24/ubs-ag-lowers-hanesbrands-inc-hbi-to-market-perform.html.

In other news, CFO Richard D. Moss sold 20,000 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $24.08, for a total transaction of $481,600.00. Following the completion of the transaction, the chief financial officer now owns 254,487 shares of the company’s stock, valued at approximately $6,128,046.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John T. Marsh sold 10,325 shares of the business’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $24.27, for a total value of $250,587.75. Following the transaction, the insider now directly owns 99,997 shares of the company’s stock, valued at approximately $2,426,927.19. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of HBI. BlackRock Inc. raised its holdings in shares of Hanesbrands by 3,104.9% during the 1st quarter. BlackRock Inc. now owns 22,875,894 shares of the textile maker’s stock worth $474,903,000 after buying an additional 22,162,112 shares in the last quarter. Sasco Capital Inc. CT acquired a new position in shares of Hanesbrands during the 2nd quarter worth $57,945,000. Morningstar Investment Services LLC raised its holdings in shares of Hanesbrands by 360.9% during the 2nd quarter. Morningstar Investment Services LLC now owns 3,034,052 shares of the textile maker’s stock worth $70,269,000 after buying an additional 2,375,811 shares in the last quarter. Platinum Investment Management Ltd. acquired a new position in shares of Hanesbrands during the 1st quarter worth $41,183,000. Finally, Bessemer Group Inc. raised its holdings in shares of Hanesbrands by 43.5% during the 2nd quarter. Bessemer Group Inc. now owns 5,808,161 shares of the textile maker’s stock worth $134,518,000 after buying an additional 1,760,614 shares in the last quarter. 95.05% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Hanesbrands (NYSE:HBI)

Receive News & Stock Ratings for Hanesbrands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanesbrands Inc. and related stocks with our FREE daily email newsletter.