HanesBrands Inc. (HBI) Trading 2.1% Higher
HanesBrands Inc. (NYSE:HBI) shares traded up 2.1% on Friday . The company traded as high as $27.80 and last traded at $27.67, with a volume of 1,617,840 shares changing hands. The stock had previously closed at $27.11.
A number of research analysts have recently weighed in on the company. Zacks Investment Research lowered HanesBrands from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. Citigroup Inc. dropped their target price on HanesBrands from $37.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, August 4th. Credit Suisse Group AG restated a “buy” rating and issued a $37.00 target price on shares of HanesBrands in a report on Wednesday, August 3rd. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $35.00 target price on shares of HanesBrands in a report on Tuesday, August 2nd. Finally, FBR & Co restated an “outperform” rating and issued a $39.00 target price on shares of HanesBrands in a report on Thursday, July 7th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the stock. HanesBrands currently has a consensus rating of “Buy” and a consensus price target of $34.14.
The firm’s 50-day moving average is $26.30 and its 200 day moving average is $27.29. The company has a market capitalization of $10.54 billion and a P/E ratio of 22.39.
HanesBrands (NYSE:HBI) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.51 earnings per share for the quarter, missing the 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. The firm’s revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.50 EPS. On average, equities 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. Shareholders of record on Tuesday, August 16th will be paid a dividend of $0.11 per share. The ex-dividend date is Friday, August 12th. This represents a $0.44 annualized dividend and a yield of 1.58%.
In other HanesBrands news, insider John T. Marsh sold 10,986 shares of the stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $27.30, for a total transaction of $299,917.80. Following the sale, the insider now directly owns 156,144 shares in the company, valued at approximately $4,262,731.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Richard A. Noll bought 20,000 shares of the business’s stock in a transaction on 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 completion of the purchase, the chief executive officer now owns 870,077 shares in the company, valued at approximately $22,395,781.98. The disclosure for this purchase can be found here.
Several institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted 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 worth $9,683,000 after buying an additional 63,886 shares in the last quarter. Advantus Capital Management Inc boosted its position in shares of HanesBrands by 1.1% in the fourth quarter. Advantus Capital Management Inc now owns 38,065 shares of the company’s stock worth $1,120,000 after buying an additional 402 shares in the last quarter. Suntrust Banks Inc. boosted its position in shares of HanesBrands by 759.3% in the fourth quarter. Suntrust Banks Inc. now owns 69,369 shares of the company’s stock worth $2,041,000 after buying an additional 61,296 shares in the last quarter. Redwood Investments LLC boosted 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 worth $3,782,000 after buying an additional 32,137 shares in the last quarter. Finally, Airain ltd bought a new position in shares of HanesBrands during the fourth quarter worth 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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