Vetr Inc. Lowers Hanesbrands Inc. (HBI) to Buy
Vetr cut shares of Hanesbrands Inc. (NYSE:HBI) from a strong-buy rating to a buy rating in a research report released on Monday morning. The brokerage currently has $26.36 target price on the textile maker’s stock.
Several other research analysts have also commented on the stock. BidaskClub lowered shares of Hanesbrands from a buy rating to a hold rating in a research note on Tuesday, June 27th. Credit Suisse Group set a $28.00 price target on shares of Hanesbrands and gave the stock a buy rating in a research note on Thursday, July 27th. Zacks Investment Research downgraded shares of Hanesbrands from a hold rating to a sell rating in a research note on Tuesday, July 4th. ValuEngine upgraded shares of Hanesbrands from a hold rating to a buy rating in a research note on Thursday, July 6th. Finally, Buckingham Research reiterated a buy rating and issued a $30.00 price target on shares of Hanesbrands in a research note on Monday, July 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. Hanesbrands currently has a consensus rating of Buy and a consensus price target of $27.18.
Hanesbrands (NYSE HBI) opened at 24.13 on Monday. Hanesbrands has a 1-year low of $18.91 and a 1-year high of $27.67. The company has a 50-day moving average of $23.52 and a 200-day moving average of $21.81. The company has a market capitalization of $8.79 billion, a P/E ratio of 15.81 and a beta of 0.73.
Hanesbrands (NYSE:HBI) last posted 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. 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 analyst estimates of $1.65 billion. During the same quarter last year, the firm posted $0.51 earnings per share. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. Equities analysts expect that Hanesbrands will post $1.99 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Tuesday, August 15th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.60 dividend on an annualized basis and a yield of 2.49%. Hanesbrands’s payout ratio is currently 39.47%.
In other news, insider W Howard Upchurch, Jr. sold 55,850 shares of Hanesbrands stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $22.90, for a total value of $1,278,965.00. Following the transaction, the insider now directly owns 579,663 shares of the company’s stock, valued at approximately $13,274,282.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John T. Marsh sold 11,100 shares of Hanesbrands stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $22.57, for a total transaction of $250,527.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,654 shares of company stock worth $3,267,205. 1.10% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in HBI. Lazard Asset Management LLC boosted its position in shares of Hanesbrands by 25.0% in the first quarter. Lazard Asset Management LLC now owns 5,000 shares of the textile maker’s stock worth $103,000 after buying an additional 1,000 shares during the last quarter. QS Investors LLC boosted its position 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 worth $118,000 after buying an additional 140 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Hanesbrands by 7.4% in the first quarter. Van ECK Associates Corp now owns 5,995 shares of the textile maker’s stock worth $124,000 after buying an additional 415 shares during the last quarter. Washington Trust Bank boosted its position 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 worth $139,000 after buying an additional 2,000 shares during the last quarter. Finally, SRS Capital Advisors Inc. boosted its position in shares of Hanesbrands by 11.6% in the first quarter. SRS Capital Advisors Inc. now owns 6,812 shares of the textile maker’s stock worth $141,000 after buying an additional 708 shares during the last quarter. 94.33% of the stock is currently 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.
To view Vetr’s full report, visit Vetr’s official website.
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