Hanesbrands Inc. (NYSE:HBI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday, November 3rd.
According to Zacks, “Hanesbrands has been gaining from its focus on acquisitions, particularly Champion Europe and Hanes Australasia. Benefits from these buyouts fueled third-quarter 2017 results, wherein both earnings and sales grew year over year. Moreover, the company returned to positive organic sales growth trajectory, thanks to robust International sales. Also, Hanesbrands’ online sales remained strong. However, the company has lagged the industry in the past three months owing to a tough retail landscape which is hurting its brick-and-mortar performance. Evidently, this marred Hanesbrands’ domestic sales in the quarter. Management expects these trends to linger in 2017, where it also expects high marketing costs. These factors, along with impacts from natural disasters led to a trimmed view. Nonetheless, cost savings from Project Booster; expected gains from Alternative Apparel and expectations of organic sales growth keep management encouraged.”
Several other equities analysts have also recently commented on the stock. Credit Suisse Group set a $28.00 target price on shares of Hanesbrands and gave the company a “buy” rating in a research note on Thursday, July 27th. BidaskClub upgraded shares of Hanesbrands from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Buckingham Research reaffirmed a “buy” rating and issued a $30.00 target price on shares of Hanesbrands in a report on Monday, July 17th. 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, UBS AG reissued a “buy” rating and set a $27.00 price objective (up previously from $25.00) on shares of Hanesbrands in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $26.13.
Shares of Hanesbrands (HBI) traded up $0.31 on Friday, reaching $19.82. 6,322,435 shares of the company were exchanged, compared to its average volume of 5,159,122. Hanesbrands has a 52-week low of $18.90 and a 52-week high of $25.73. The stock has a market capitalization of $7,230.00, a P/E ratio of 10.13, a PEG ratio of 1.13 and a beta of 0.76. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.88 and a quick ratio of 0.85.
Hanesbrands (NYSE:HBI) last posted its earnings results on Wednesday, November 1st. The textile maker reported $0.60 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.80 billion. Hanesbrands had a net margin of 9.43% and a return on equity of 64.73%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.56 earnings per share. equities analysts predict that Hanesbrands will post 1.94 earnings per share for the current year.
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In other news, insider John T. Marsh sold 10,325 shares of Hanesbrands stock in a transaction on Monday, August 28th. The stock was sold at an average price of $24.27, for a total transaction of $250,587.75. Following the completion of the sale, the insider now owns 99,997 shares of the company’s stock, valued at $2,426,927.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Archford Capital Strategies LLC raised its stake in Hanesbrands by 283.4% in the second quarter. Archford Capital Strategies LLC now owns 1,687 shares of the textile maker’s stock valued at $141,000 after purchasing an additional 1,247 shares in the last quarter. IHT Wealth Management LLC raised its stake in Hanesbrands by 101.1% in the second quarter. IHT Wealth Management LLC now owns 2,652 shares of the textile maker’s stock valued at $159,000 after purchasing an additional 1,333 shares in the last quarter. Engine Capital Management LLC acquired a new position in Hanesbrands in the third quarter valued at about $106,000. QS Investors LLC raised its stake in Hanesbrands by 2.8% in the second quarter. QS Investors LLC now owns 5,100 shares of the textile maker’s stock valued at $118,000 after purchasing an additional 140 shares in the last quarter. Finally, Valeo Financial Advisors LLC acquired a new position in Hanesbrands in the third quarter valued at about $138,000. 95.96% of the stock is owned by institutional investors and hedge funds.
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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