Traders Buy HanesBrands Inc. (HBI) on Weakness
Traders purchased shares of HanesBrands Inc. (NYSE:HBI) on weakness during trading on Friday. $12.78 million flowed into the stock on the tick-up and $6.70 million flowed out of the stock on the tick-down, for a money net flow of $6.08 million into the stock. Of all companies tracked, HanesBrands had the 60th highest net in-flow for the day. HanesBrands traded down ($0.12) for the day and closed at $26.40
Several research firms have commented on HBI. Zacks Investment Research upgraded HanesBrands from a “sell” rating to a “hold” rating in a research report on Tuesday, August 23rd. Citigroup Inc. dropped their target price on HanesBrands from $37.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, August 4th. Credit Suisse Group AG reiterated a “buy” rating and issued a $37.00 target price on shares of HanesBrands in a research report on Wednesday, August 3rd. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $35.00 target price on shares of HanesBrands in a research report on Tuesday, August 2nd. Finally, FBR & Co reiterated an “outperform” rating and issued a $39.00 target price on shares of HanesBrands in a research report on Thursday, July 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $34.14.
The firm has a 50 day moving average price of $26.67 and a 200 day moving average price of $27.30. The firm has a market capitalization of $9.97 billion and a price-to-earnings ratio of 21.19.
HanesBrands (NYSE:HBI) last posted its earnings results on Tuesday, August 2nd. The company reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.01. During the same period last year, the firm posted $0.50 EPS. The company earned $1.47 billion during the quarter, compared to analyst estimates of $1.53 billion. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. Analysts anticipate that HanesBrands Inc. will post $1.92 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 7th. Investors of record on Tuesday, August 16th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.67%. The ex-dividend date is Friday, August 12th.
In other news, CEO Richard A. Noll acquired 20,000 shares of the business’s stock in a transaction dated Tuesday, August 9th. The stock was purchased at an average cost 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
A hedge fund recently raised its stake in HanesBrands stock. Bank of Montreal Can boosted its position in HanesBrands Inc. (NYSE:HBI) by 24.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 329,048 shares of the company’s stock after buying an additional 63,886 shares during the period. Bank of Montreal Can owned approximately 0.08% of HanesBrands worth $9,683,000 at the end of the most recent quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.