Nomura Downgrades Hanesbrands Inc. (HBI) to Neutral
Nomura lowered shares of Hanesbrands Inc. (NYSE:HBI) from a buy rating to a neutral rating in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. They currently have $26.00 price objective on the textile maker’s stock.
Other analysts have also recently issued reports about the stock. Credit Suisse Group set a $28.00 target price on shares of Hanesbrands and gave the stock a buy rating in a research note on Thursday, July 27th. BidaskClub raised shares of Hanesbrands from a sell rating to a hold rating in a research note on Wednesday, August 9th. UBS AG reaffirmed a buy rating and issued a $27.00 target price (up from $25.00) on shares of Hanesbrands in a research note on Tuesday, August 8th. 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 28th. Finally, ValuEngine cut shares of Hanesbrands from a buy rating to a hold rating in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $27.27.
Hanesbrands (HBI) opened at 24.54 on Thursday. The firm has a market capitalization of $8.94 billion, a PE ratio of 16.08 and a beta of 0.71. Hanesbrands has a one year low of $18.91 and a one year high of $27.07. The stock’s 50 day moving average price is $24.37 and its 200 day moving average price is $22.33.
Hanesbrands (NYSE:HBI) last issued its quarterly earnings data on Tuesday, August 1st. The textile maker reported $0.53 earnings per share for the quarter, hitting the Zacks’ 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 during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the company posted $0.51 EPS. The company’s revenue was up 11.8% on a year-over-year basis. Analysts expect that Hanesbrands will post $1.99 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Tuesday, August 15th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend was Friday, August 11th. Hanesbrands’s payout ratio is currently 39.47%.
In other news, CFO Richard D. Moss sold 20,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 254,487 shares of the company’s stock, valued at approximately $6,128,046.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John T. Marsh sold 10,325 shares of the business’s stock in a transaction dated 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 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. Insiders sold a total of 73,704 shares of company stock valued at $1,737,713 in the last three months. Insiders own 1.10% of the company’s stock.
Several large investors have recently made changes to their positions in HBI. BlackRock Inc. grew its position in shares of Hanesbrands by 3,104.9% during the 1st quarter. BlackRock Inc. now owns 22,875,894 shares of the textile maker’s stock valued at $474,903,000 after buying an additional 22,162,112 shares during the last quarter. OMERS ADMINISTRATION Corp grew its position in shares of Hanesbrands by 98.9% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 5,673,506 shares of the textile maker’s stock valued at $117,782,000 after buying an additional 2,820,380 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Hanesbrands by 19.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 15,936,667 shares of the textile maker’s stock valued at $330,846,000 after buying an additional 2,544,916 shares during the last quarter. Sasco Capital Inc. CT bought a new stake in shares of Hanesbrands during the 2nd quarter valued at about $57,945,000. Finally, Morningstar Investment Services LLC grew its position in shares of Hanesbrands by 360.9% during the 2nd quarter. Morningstar Investment Services LLC now owns 3,034,052 shares of the textile maker’s stock valued at $70,269,000 after buying an additional 2,375,811 shares during the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.
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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