Hanesbrands (NYSE:HBI – Get Rating) was upgraded by analysts at StockNews.com to a “sell” rating in a report issued on Friday.
HBI has been the topic of a number of other research reports. Barclays upped their target price on Hanesbrands from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Friday, January 13th. Credit Suisse Group reduced their target price on Hanesbrands from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, February 3rd. UBS Group reduced their target price on Hanesbrands from $7.00 to $5.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 29th. TheStreet lowered Hanesbrands from a “c” rating to a “d+” rating in a research note on Thursday, February 2nd. Finally, Citigroup reduced their target price on Hanesbrands from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Friday, February 3rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $9.30.
Hanesbrands Stock Up 2.9 %
Hanesbrands stock opened at $4.95 on Friday. Hanesbrands has a fifty-two week low of $4.73 and a fifty-two week high of $14.19. The company has a debt-to-equity ratio of 9.07, a quick ratio of 0.64 and a current ratio of 1.75. The company has a market capitalization of $1.73 billion, a P/E ratio of -13.75 and a beta of 1.58. The stock has a 50-day simple moving average of $5.18 and a 200-day simple moving average of $6.34.
Hanesbrands (NYSE:HBI – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The textile maker reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). Hanesbrands had a negative net margin of 2.04% and a positive return on equity of 53.41%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter last year, the firm earned $0.44 EPS. The business’s revenue was down 15.9% on a year-over-year basis. Equities research analysts expect that Hanesbrands will post 0.35 earnings per share for the current year.
Institutional Trading of Hanesbrands
Institutional investors and hedge funds have recently made changes to their positions in the company. Accurate Wealth Management LLC acquired a new stake in shares of Hanesbrands during the 4th quarter worth $31,000. Versant Capital Management Inc increased its holdings in Hanesbrands by 2,003.1% in the 1st quarter. Versant Capital Management Inc now owns 6,162 shares of the textile maker’s stock valued at $32,000 after purchasing an additional 5,869 shares in the last quarter. Allworth Financial LP increased its holdings in Hanesbrands by 108.8% in the 4th quarter. Allworth Financial LP now owns 5,195 shares of the textile maker’s stock valued at $33,000 after purchasing an additional 2,707 shares in the last quarter. Ronald Blue Trust Inc. increased its holdings in Hanesbrands by 189.7% in the 4th quarter. Ronald Blue Trust Inc. now owns 4,815 shares of the textile maker’s stock valued at $33,000 after purchasing an additional 3,153 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Hanesbrands by 1,248.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 5,394 shares of the textile maker’s stock valued at $34,000 after purchasing an additional 4,994 shares in the last quarter. 81.87% of the stock is currently owned by institutional investors and hedge funds.
About Hanesbrands
Hanesbrands, Inc engages in the business of designing, manufacturing, sourcing, and selling basic apparel such as T-shirts, bras, panties, shape wear, underwear, socks, and activewear. It operates through the following segments: Innerwear, Activewear, and International. The Innerwear segment includes basic apparel including men’s underwear, women’s panties, children’s underwear, and socks, and intimate apparel such as bras, and shape wear.
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Source: defenseworld.net
