Hanesbrands Inc. (HBI) Stock Rating Lowered by TheStreet
HBI has been the topic of several other research reports. Buckingham Research reaffirmed a buy rating and issued a $30.00 target price on shares of Hanesbrands in a report on Monday, July 17th. BidaskClub lowered shares of Hanesbrands from a buy rating to a hold rating in a report on Tuesday, June 27th. Zacks Investment Research lowered shares of Hanesbrands from a hold rating to a sell rating in a report on Tuesday, July 4th. Vetr lowered shares of Hanesbrands from a strong-buy rating to a buy rating and set a $26.36 target price on the stock. in a report on Monday, August 7th. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $23.00 target price on shares of Hanesbrands in a report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $27.27.
Shares of Hanesbrands (NYSE:HBI) traded down 1.52% during mid-day trading on Thursday, reaching $23.37. 1,397,494 shares of the company traded hands. The stock’s 50 day moving average is $24.53 and its 200 day moving average is $22.83. The stock has a market capitalization of $8.52 billion, a PE ratio of 15.31 and a beta of 0.72. Hanesbrands has a 52-week low of $18.91 and a 52-week high of $27.07.
Hanesbrands (NYSE:HBI) last posted its earnings results on Tuesday, August 1st. The textile maker reported $0.53 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. Hanesbrands had a net margin of 9.02% and a return on equity of 64.80%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the firm earned $0.51 EPS. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, analysts anticipate that Hanesbrands will post $1.99 earnings per share for the current year.
In other Hanesbrands news, insider John T. Marsh sold 10,325 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $24.27, for a total transaction of $250,587.75. Following the transaction, the insider now directly owns 99,997 shares in the company, valued at approximately $2,426,927.19. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Richard D. Moss sold 20,000 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were 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 in the company, valued at $6,128,046.96. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Hanesbrands by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 36,962,193 shares of the textile maker’s stock valued at $767,336,000 after purchasing an additional 2,158,679 shares during the period. Park Avenue Institutional Advisers LLC acquired a new position in Hanesbrands during the 1st quarter valued at about $534,000. BB&T Corp lifted its position in Hanesbrands by 3.2% during the 2nd quarter. BB&T Corp now owns 561,111 shares of the textile maker’s stock valued at $12,995,000 after purchasing an additional 17,312 shares during the period. Freestone Capital Holdings LLC lifted its position in Hanesbrands by 14.0% during the 2nd quarter. Freestone Capital Holdings LLC now owns 180,729 shares of the textile maker’s stock valued at $4,186,000 after purchasing an additional 22,190 shares during the period. Finally, Morgan Stanley lifted its position in Hanesbrands by 21.2% during the 1st quarter. Morgan Stanley now owns 4,009,081 shares of the textile maker’s stock valued at $83,228,000 after purchasing an additional 701,732 shares during the period. Institutional investors own 94.53% of the company’s stock.
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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