Investors Buy HanesBrands Inc. (HBI) on Weakness
Investors 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 analysts have recently weighed in on HBI shares. Credit Suisse Group AG reaffirmed 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 target price on shares of HanesBrands in a research report on Wednesday, July 6th. Morgan Stanley reiterated a “buy” rating and issued a $34.00 target price on shares of HanesBrands in a research report on Thursday, May 19th. Brean Capital reiterated a “buy” rating and issued a $37.00 target price (up from $35.00) on shares of HanesBrands in a research report on Thursday, June 2nd. Finally, Zacks Investment Research lowered shares of HanesBrands from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $34.14.
The stock has a market capitalization of $9.97 billion and a PE ratio of 21.19. The company’s 50-day moving average is $26.67 and its 200 day moving average is $27.30.
HanesBrands (NYSE:HBI) last announced its quarterly earnings data 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 quarter last year, the firm earned $0.50 EPS. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.53 billion. HanesBrands’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, analysts predict that HanesBrands Inc. will post $1.92 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 7th. Shareholders of record on Tuesday, August 16th will be issued a $0.11 dividend. The ex-dividend date is Friday, August 12th. This represents a $0.44 dividend on an annualized basis and a yield of 1.67%.
In related news, CEO Richard A. Noll purchased 20,000 shares of HanesBrands stock in a transaction on Tuesday, August 9th. The shares were bought 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 in the company, valued at approximately $22,395,781.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
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 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 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.
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