Investors Buy HanesBrands Inc. (HBI) on Weakness
Traders purchased shares of HanesBrands Inc. (NYSE:HBI) on weakness during trading on Monday. $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 stocks tracked, HanesBrands had the 30th highest net in-flow for the day. HanesBrands traded down ($0.12) for the day and closed at $26.40
Several equities research analysts recently issued reports on the company. Brean Capital reiterated a “buy” rating and set a $37.00 price target (up previously from $35.00) on shares of HanesBrands in a report on Thursday, June 2nd. Zacks Investment Research upgraded HanesBrands from a “sell” rating to a “hold” rating in a report on Tuesday, August 23rd. Morgan Stanley reiterated a “buy” rating on shares of HanesBrands in a report on Wednesday, June 1st. Wells Fargo & Co. reiterated a “buy” rating on shares of HanesBrands in a report on Wednesday, June 1st. Finally, Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $35.00 price target on shares of HanesBrands in a report on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $34.14.
The stock has a 50 day moving average price of $26.67 and a 200 day moving average price of $27.30. The company has a market cap of $9.97 billion and a price-to-earnings ratio of 21.19.
HanesBrands (NYSE:HBI) last posted its quarterly earnings data 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 earned $1.47 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the business posted $0.50 earnings per share. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. Equities analysts expect that HanesBrands Inc. will post $1.92 earnings per share for the current fiscal year.
The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Friday, August 12th.
In related news, CEO Richard A. Noll acquired 20,000 shares of HanesBrands stock in a transaction that occurred on Tuesday, August 9th. The stock was bought at an average price of $25.74 per share, with a total value of $514,800.00. Following the transaction, the chief executive officer now directly owns 870,077 shares in the company, 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.
An institutional investor recently raised its position in HanesBrands stock. Bank of Montreal Can raised its position in HanesBrands Inc. (NYSE:HBI) by 24.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 329,048 shares of the company’s stock after buying an additional 63,886 shares during the period. Bank of Montreal Can owned 0.08% of HanesBrands worth $9,683,000 as of its most recent filing with the SEC.
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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