Hanesbrands Inc. (HBI) Downgraded to Neutral at Instinet
Instinet cut shares of Hanesbrands Inc. (NYSE:HBI) from a buy rating to a neutral rating in a research note issued to investors on Thursday morning. Instinet currently has $26.00 price objective on the textile maker’s stock.
Several other equities research analysts have also commented on HBI. BidaskClub raised Hanesbrands from a sell rating to a hold rating in a research note on Wednesday, August 9th. Vetr lowered Hanesbrands from a strong-buy rating to a buy rating and set a $26.36 price target on the stock. in a research note on Monday, August 7th. Zacks Investment Research lowered Hanesbrands from a buy rating to a hold rating in a research note on Wednesday, August 9th. Nomura lowered Hanesbrands from a buy rating to a neutral rating and set a $26.00 price target on the stock. in a research note on Thursday. Finally, Credit Suisse Group reissued a buy rating and set a $30.00 price target on shares of Hanesbrands in a research note on Thursday, August 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $27.27.
Hanesbrands (HBI) traded up 0.306% during trading on Thursday, hitting $24.575. The stock had a trading volume of 1,737,250 shares. The firm has a market cap of $8.96 billion, a P/E ratio of 16.104 and a beta of 0.71. The stock’s 50 day moving average price is $24.38 and its 200 day moving average price is $22.33. Hanesbrands has a 12-month low of $18.91 and a 12-month high of $27.07.
Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.53 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. Hanesbrands had a return on equity of 64.80% and a net margin of 9.02%. The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.51 EPS. On average, analysts anticipate that Hanesbrands will post $1.99 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 6th. Shareholders of record on Tuesday, August 15th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend was Friday, August 11th. Hanesbrands’s dividend payout ratio is presently 39.47%.
In other Hanesbrands news, CFO Richard D. Moss sold 20,000 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $24.08, for a total transaction of $481,600.00. Following the transaction, the chief financial officer now owns 254,487 shares of the company’s stock, valued at approximately $6,128,046.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gerald Evans sold 43,379 shares of the stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $23.18, for a total value of $1,005,525.22. Following the transaction, the chief executive officer now directly owns 1,056,314 shares in the company, valued at approximately $24,485,358.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,704 shares of company stock worth $1,737,713. Corporate insiders own 1.10% of the company’s stock.
Several institutional investors have recently modified their holdings of HBI. BlackRock Inc. lifted its stake in shares of Hanesbrands by 3,104.9% during the 1st quarter. BlackRock Inc. now owns 22,875,894 shares of the textile maker’s stock worth $474,903,000 after purchasing an additional 22,162,112 shares during the period. OMERS ADMINISTRATION Corp lifted its stake in shares of Hanesbrands by 98.9% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 5,673,506 shares of the textile maker’s stock worth $117,782,000 after purchasing an additional 2,820,380 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Hanesbrands by 19.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 15,936,667 shares of the textile maker’s stock worth $330,846,000 after purchasing an additional 2,544,916 shares during the period. Sasco Capital Inc. CT purchased a new position in shares of Hanesbrands during the 2nd quarter worth $57,945,000. Finally, Morningstar Investment Services LLC lifted its stake in shares of Hanesbrands by 360.9% during the 2nd quarter. Morningstar Investment Services LLC now owns 3,034,052 shares of the textile maker’s stock worth $70,269,000 after purchasing an additional 2,375,811 shares during the period. 94.28% of the stock is currently owned by institutional investors.
Hanesbrands Company Profile
Hanesbrands Inc is a marketer of basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia/Pacific under apparel brands, such as Hanes, Champion, Maidenform, DIM, Bali, Playtex, Bonds, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Gear for Sports and Berlei.
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