HanesBrands Inc. (HBI) Stock Price Up 2.1%
HanesBrands Inc. (NYSE:HBI) shares rose 2.1% on Friday . The stock traded as high as $27.80 and last traded at $27.67, with a volume of 1,617,840 shares trading hands. The stock had previously closed at $27.11.
HBI has been the subject of several analyst reports. FBR & Co reiterated a “buy” rating and issued a $39.00 price target on shares of HanesBrands in a report on Saturday, April 23rd. Credit Suisse Group AG reiterated a “buy” rating and issued a $37.00 price target on shares of HanesBrands in a report on Wednesday, August 3rd. Nomura reiterated a “sell” rating and issued a $31.00 price target on shares of HanesBrands in a report on Wednesday, July 6th. Morgan Stanley reiterated a “buy” rating and issued a $34.00 price target on shares of HanesBrands in a report on Thursday, May 19th. Finally, Brean Capital reiterated a “buy” rating and issued a $37.00 price target (up from $35.00) on shares of HanesBrands in a report on Thursday, June 2nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company’s stock. HanesBrands currently has an average rating of “Buy” and an average price target of $34.14.
The stock’s 50 day moving average is $26.38 and its 200 day moving average is $27.27. The company has a market capitalization of $10.54 billion and a PE ratio of 22.39.
HanesBrands (NYSE:HBI) last issued its earnings results on Tuesday, August 2nd. The company reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.01. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the firm earned $0.50 EPS. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. Analysts anticipate that HanesBrands Inc. will post $1.92 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 7th. Investors of record on Tuesday, August 16th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Friday, August 12th.
In other HanesBrands news, CEO Richard A. Noll purchased 20,000 shares of the business’s stock in a transaction dated Tuesday, August 9th. The shares were acquired at an average price of $25.74 per share, for a total transaction of $514,800.00. Following the acquisition, the chief executive officer now owns 870,077 shares of the company’s stock, valued at $22,395,781.98. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John T. Marsh sold 10,986 shares of the firm’s stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $27.30, for a total transaction of $299,917.80. Following the transaction, the insider now owns 156,144 shares in the company, valued at approximately $4,262,731.20. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have added to or reduced their stakes in HBI. American International Group Inc. increased its position in shares of HanesBrands by 0.3% in the fourth quarter. American International Group Inc. now owns 151,090 shares of the company’s stock valued at $4,446,000 after buying an additional 449 shares during the period. Redwood Investments LLC increased its position in shares of HanesBrands by 33.3% in the fourth quarter. Redwood Investments LLC now owns 128,523 shares of the company’s stock valued at $3,782,000 after buying an additional 32,137 shares during the period. Bank of Montreal Can increased its position in shares of HanesBrands by 24.1% in the fourth quarter. Bank of Montreal Can now owns 329,048 shares of the company’s stock valued at $9,683,000 after buying an additional 63,886 shares during the period. Finally, Airain ltd purchased a new position in shares of HanesBrands during the fourth quarter valued at approximately $4,249,000.
Hanesbrands Inc is a manufacturer and marketer of apparels. The Company operates through four segments: Innerwear, Activewear, Direct to Consumer and International. The Company’s portfolio of brands includes Hanes, Champion, Maidenform, DIM, Playtex, Bali, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Lilyette and Gear for Sports.
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