Deutsche Bank Downgrades Hanesbrands (HBI) to Hold
Hanesbrands (NYSE:HBI) was downgraded by Deutsche Bank from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, The Fly reports.
Several other analysts have also recently issued reports on the company. Zacks Investment Research cut Hanesbrands from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. Wells Fargo & Co dropped their target price on Hanesbrands from $18.00 to $14.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 2nd. Citigroup increased their target price on Hanesbrands from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, December 3rd. Bank of America dropped their target price on Hanesbrands from $20.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, November 2nd. Finally, Nomura dropped their target price on Hanesbrands from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, November 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $21.20.
Shares of NYSE HBI opened at $13.62 on Friday. The company has a current ratio of 1.84, a quick ratio of 0.79 and a debt-to-equity ratio of 4.44. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of 7.06, a P/E/G ratio of 0.75 and a beta of 0.66. Hanesbrands has a 12-month low of $11.57 and a 12-month high of $23.33.
In related news, insider W Howard Upchurch, Jr. sold 40,688 shares of the firm’s stock in a transaction on Wednesday, December 12th. The stock was sold at an average price of $14.81, for a total value of $602,589.28. Following the completion of the transaction, the insider now owns 453,282 shares in the company, valued at approximately $6,713,106.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald L. Nelson bought 25,000 shares of Hanesbrands stock in a transaction that occurred on Friday, November 2nd. The stock was purchased at an average price of $15.95 per share, with a total value of $398,750.00. Following the purchase, the director now directly owns 131,683 shares in the company, valued at $2,100,343.85. The disclosure for this purchase can be found here. In the last three months, insiders bought 61,600 shares of company stock valued at $940,079 and sold 77,803 shares valued at $1,171,521. 1.06% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of HBI. Farmers & Merchants Investments Inc. raised its stake in shares of Hanesbrands by 1.7% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 281,199 shares of the textile maker’s stock valued at $5,182,000 after buying an additional 4,598 shares during the last quarter. PenderFund Capital Management Ltd. raised its stake in shares of Hanesbrands by 4,266.8% during the 3rd quarter. PenderFund Capital Management Ltd. now owns 336,246 shares of the textile maker’s stock valued at $7,455,000 after buying an additional 328,546 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Hanesbrands by 31.6% during the 3rd quarter. Pacer Advisors Inc. now owns 21,707 shares of the textile maker’s stock valued at $400,000 after buying an additional 5,210 shares during the last quarter. Buckhead Capital Management LLC raised its stake in shares of Hanesbrands by 59.3% during the 3rd quarter. Buckhead Capital Management LLC now owns 164,570 shares of the textile maker’s stock valued at $3,033,000 after buying an additional 61,255 shares during the last quarter. Finally, EP Wealth Advisors LLC purchased a new position in shares of Hanesbrands during the 3rd quarter valued at about $819,000. Institutional investors own 99.55% of the company’s stock.
Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children in the United States. The company operates through three segments: Innerwear, Activewear, and International. It sells bras, panties, men's underwear, children's underwear, activewear, socks, hosiery, intimate apparel, shapewears, and home goods; and T-shirts, fleece, sport shirts, performance T-shirts and shorts, sports bras, and thermals, as well as licensed logo apparel in collegiate bookstores, mass retailers, and other channels.
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