B. Riley Reiterates Buy Rating for Hanesbrands Inc. (HBI)
Hanesbrands Inc. (NYSE:HBI)‘s stock had its “buy” rating reiterated by analysts at B. Riley in a research note issued on Thursday.
Several other equities research analysts also recently issued reports on HBI. BidaskClub upgraded shares of Hanesbrands from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Morgan Stanley lowered their price objective on shares of Hanesbrands from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Thursday. Vetr downgraded shares of Hanesbrands from a “strong-buy” rating to a “buy” rating and set a $26.36 price objective on the stock. in a research note on Monday, August 7th. Zacks Investment Research downgraded shares of Hanesbrands from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $23.00 price objective on shares of Hanesbrands in a research note on Friday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $26.13.
Shares of Hanesbrands (NYSE HBI) traded down $0.72 during trading on Thursday, hitting $19.36. 10,650,000 shares of the stock traded hands, compared to its average volume of 5,500,000. The firm has a market capitalization of $7,060.00, a P/E ratio of 10.30, a price-to-earnings-growth ratio of 1.15 and a beta of 0.76. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.89 and a current ratio of 1.88. Hanesbrands has a twelve month low of $18.91 and a twelve month high of $26.05.
Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Wednesday, November 1st. The textile maker reported $0.60 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.60. The business had revenue of $1.80 billion for 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%. Hanesbrands’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company posted $0.56 earnings per share. analysts anticipate that Hanesbrands will post 1.94 earnings per share for the current year.
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In other Hanesbrands 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 transaction, the insider now directly owns 99,997 shares of the company’s stock, valued at $2,426,927.19. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. QS Investors LLC raised its holdings in shares of 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 buying an additional 140 shares during the last quarter. Washington Trust Bank raised its holdings in shares of Hanesbrands by 50.0% in the second quarter. Washington Trust Bank now owns 6,000 shares of the textile maker’s stock valued at $139,000 after buying an additional 2,000 shares during the last quarter. Archford Capital Strategies LLC raised its holdings in shares of 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 buying an additional 1,247 shares during the last quarter. Commonwealth Bank of Australia raised its holdings in shares of Hanesbrands by 19.2% in the second quarter. Commonwealth Bank of Australia now owns 6,598 shares of the textile maker’s stock valued at $152,000 after buying an additional 1,062 shares during the last quarter. Finally, IHT Wealth Management LLC raised its holdings in shares of 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 buying an additional 1,333 shares during the last quarter. 94.80% 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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