Hanesbrands Inc. (HBI) Downgraded by TheStreet to C+
Hanesbrands Inc. (NYSE:HBI) was downgraded by stock analysts at TheStreet from a “b” rating to a “c+” rating in a research report issued to clients and investors on Thursday.
Several other equities analysts have also recently weighed in on HBI. BidaskClub raised shares of Hanesbrands from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Vetr cut shares of Hanesbrands from a “strong-buy” rating to a “buy” rating and set a $26.36 target price for the company. in a research note on Monday, August 7th. Zacks Investment Research cut shares of Hanesbrands from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Credit Suisse Group reaffirmed a “buy” rating and set a $30.00 target price on shares of Hanesbrands in a research note on Thursday, August 3rd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $23.00 target price on shares of Hanesbrands in a research note on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. Hanesbrands currently has an average rating of “Buy” and a consensus price target of $27.27.
Shares of Hanesbrands (NYSE HBI) opened at 23.73 on Thursday. Hanesbrands has a 52-week low of $18.91 and a 52-week high of $27.07. The stock’s 50 day moving average price is $24.53 and its 200-day moving average price is $22.83. The company has a market cap of $8.65 billion, a P/E ratio of 15.55 and a beta of 0.72.
Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Tuesday, August 1st. The textile maker reported $0.53 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.53. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.65 billion. Hanesbrands had a net margin of 9.02% and a return on equity of 64.80%. The company’s revenue was up 11.8% on a year-over-year basis. During the same period last year, the firm earned $0.51 EPS. Equities analysts expect that Hanesbrands will post $1.99 EPS for the current year.
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In other news, CFO Richard D. Moss sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $24.08, for a total value of $481,600.00. Following the completion of the transaction, the chief financial officer now owns 254,487 shares of the company’s stock, valued at $6,128,046.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John T. Marsh sold 10,325 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were 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 approximately $2,426,927.19. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Beacon Financial Group boosted its stake in shares of Hanesbrands by 335.7% in the third quarter. Beacon Financial Group now owns 424,272 shares of the textile maker’s stock valued at $10,454,000 after purchasing an additional 326,896 shares during the period. Perpetual Ltd purchased a new position in shares of Hanesbrands in the second quarter valued at approximately $712,000. Bogart Wealth LLC purchased a new position in shares of Hanesbrands in the second quarter valued at approximately $366,000. Gs Investments Inc. purchased a new position in shares of Hanesbrands in the second quarter valued at approximately $452,000. Finally, Sentry Investment Management LLC boosted its stake in shares of Hanesbrands by 0.4% in the second quarter. Sentry Investment Management LLC now owns 24,878 shares of the textile maker’s stock valued at $576,000 after purchasing an additional 109 shares during the period. 94.53% 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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