Hanesbrands Inc. (NYSE:HBI) Given Consensus Recommendation of “Hold” by Analysts

Hanesbrands Inc. (NYSE:HBI) has been assigned an average rating of “Hold” from the six ratings firms that are covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $6.60.

HBI has been the topic of a number of research reports. Citigroup boosted their target price on shares of Hanesbrands from $5.50 to $7.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. UBS Group boosted their price objective on shares of Hanesbrands from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Wells Fargo & Company upgraded shares of Hanesbrands from a “strong sell” rating to an “equal weight” rating and upped their price objective for the stock from $5.00 to $6.00 in a report on Thursday, August 14th. Wall Street Zen upgraded shares of Hanesbrands from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 9th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Hanesbrands in a research report on Wednesday, October 8th.

Hanesbrands Trading Up 0.8%

Shares of NYSE:HBI traded up $0.06 on Friday, hitting $6.56. The company had a trading volume of 6,465,567 shares, compared to its average volume of 6,666,913. The firm’s 50-day simple moving average is $6.65 and its two-hundred day simple moving average is $5.66. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 7.13 and a beta of 1.50. The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 4.94. Hanesbrands has a 1 year low of $3.96 and a 1 year high of $9.10.

Hanesbrands (NYSE:HBI) last released its earnings results on Thursday, November 6th. The textile maker reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). Hanesbrands had a net margin of 9.34% and a return on equity of 129.43%. The firm had revenue of $891.68 million during the quarter, compared to analysts’ expectations of $905.37 million. During the same quarter in the previous year, the business earned $0.15 EPS. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. Equities analysts anticipate that Hanesbrands will post 0.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hanesbrands

Several large investors have recently modified their holdings of HBI. LPL Financial LLC grew its stake in shares of Hanesbrands by 11.2% during the 1st quarter. LPL Financial LLC now owns 505,109 shares of the textile maker’s stock valued at $2,914,000 after purchasing an additional 50,977 shares during the period. Vanguard Group Inc. grew its position in Hanesbrands by 2.5% during the first quarter. Vanguard Group Inc. now owns 41,041,617 shares of the textile maker’s stock valued at $236,810,000 after buying an additional 1,006,739 shares during the period. Mackenzie Financial Corp increased its holdings in Hanesbrands by 436.4% during the first quarter. Mackenzie Financial Corp now owns 119,749 shares of the textile maker’s stock valued at $691,000 after buying an additional 97,426 shares during the last quarter. Bryce Point Capital LLC purchased a new stake in Hanesbrands during the first quarter valued at approximately $988,000. Finally, Cetera Investment Advisers raised its position in Hanesbrands by 6.8% in the first quarter. Cetera Investment Advisers now owns 77,486 shares of the textile maker’s stock worth $447,000 after acquiring an additional 4,904 shares during the period. Hedge funds and other institutional investors own 80.31% of the company’s stock.

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.