Hanesbrands (NYSE:HBI) Stock Rating Upgraded by Wall Street Zen

Hanesbrands (NYSE:HBI) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Several other equities analysts also recently commented on the stock. Stifel Nicolaus lowered their target price on shares of Hanesbrands from $7.00 to $5.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. UBS Group increased their target price on shares of Hanesbrands from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Barclays set a $6.00 price objective on Hanesbrands and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Wells Fargo & Company raised their price objective on Hanesbrands from $3.00 to $4.00 and gave the company an “underweight” rating in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Hanesbrands presently has an average rating of “Hold” and a consensus price target of $5.60.

Hanesbrands Price Performance

Shares of NYSE:HBI opened at $4.90 on Thursday. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -5.33 and a beta of 1.50. The business has a fifty day simple moving average of $5.04 and a 200 day simple moving average of $6.78. Hanesbrands has a 1 year low of $4.02 and a 1 year high of $9.10. The company has a current ratio of 1.37, a quick ratio of 0.68 and a debt-to-equity ratio of 64.28.

Hanesbrands (NYSE:HBI) last posted its earnings results on Thursday, May 8th. The textile maker reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.04. Hanesbrands had a negative net margin of 8.06% and a positive return on equity of 108.01%. The firm had revenue of $760.15 million during the quarter, compared to analysts’ expectations of $757.42 million. During the same period in the previous year, the company earned ($0.02) earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts predict that Hanesbrands will post 0.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hanesbrands

A number of hedge funds have recently bought and sold shares of HBI. GeoWealth Management LLC boosted its holdings in Hanesbrands by 2,278.8% during the fourth quarter. GeoWealth Management LLC now owns 3,473 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 3,327 shares during the period. CX Institutional acquired a new stake in Hanesbrands in the 1st quarter valued at approximately $34,000. Smartleaf Asset Management LLC grew its holdings in Hanesbrands by 122.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,920 shares of the textile maker’s stock valued at $40,000 after buying an additional 2,712 shares during the last quarter. AlphaQuest LLC acquired a new stake in Hanesbrands in the 1st quarter valued at approximately $44,000. Finally, Transce3nd LLC bought a new position in Hanesbrands during the fourth quarter worth $45,000. 80.31% of the stock is currently owned by institutional investors.

About Hanesbrands

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of range of innerwear apparels for men, women, and children in the Americas, Europe, the Asia pacific, and internationally. The company operates through three segments: Innerwear, Activewear, and International.