Hanesbrands Inc. (NYSE:HBI) Receives $17.44 Average Target Price from Brokerages

Hanesbrands Inc. (NYSE:HBI) has earned a consensus recommendation of “Hold” from the ten analysts that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $17.88.

A number of brokerages recently commented on HBI. Citigroup decreased their target price on Hanesbrands from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. ValuEngine cut Hanesbrands from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd. Finally, Bank of America decreased their target price on Hanesbrands from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd.

In other Hanesbrands news, CEO Gerald Evans purchased 10,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was acquired at an average price of $14.74 per share, for a total transaction of $147,400.00. Following the purchase, the chief executive officer now owns 1,655,880 shares of the company’s stock, valued at approximately $24,407,671.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joia M. Johnson purchased 7,100 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was acquired at an average price of $13.97 per share, with a total value of $99,187.00. Following the purchase, the insider now directly owns 115,830 shares in the company, valued at approximately $1,618,145.10. The disclosure for this purchase can be found here. 1.04% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Treasurer of the State of North Carolina increased its stake in Hanesbrands by 5.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 170,303 shares of the textile maker’s stock worth $2,933,000 after buying an additional 8,610 shares in the last quarter. BlackRock Inc. increased its stake in Hanesbrands by 1.5% in the 2nd quarter. BlackRock Inc. now owns 24,829,858 shares of the textile maker’s stock worth $427,569,000 after buying an additional 355,923 shares in the last quarter. Phocas Financial Corp. purchased a new stake in Hanesbrands in the 2nd quarter worth $57,000. Maverick Capital Ltd. increased its stake in Hanesbrands by 375.3% in the 2nd quarter. Maverick Capital Ltd. now owns 814,730 shares of the textile maker’s stock worth $14,030,000 after buying an additional 643,310 shares in the last quarter. Finally, UBS Group AG increased its stake in Hanesbrands by 244.1% in the 2nd quarter. UBS Group AG now owns 2,027,579 shares of the textile maker’s stock worth $34,915,000 after buying an additional 1,438,360 shares in the last quarter. Institutional investors and hedge funds own 91.41% of the company’s stock.

Shares of NYSE HBI traded down $0.52 during midday trading on Friday, hitting $13.65. 7,064,326 shares of the stock traded hands, compared to its average volume of 6,652,950. The firm has a 50-day moving average of $15.55 and a two-hundred day moving average of $17.04. The firm has a market capitalization of $5.12 billion, a P/E ratio of 7.98, a PEG ratio of 1.85 and a beta of 1.10. The company has a debt-to-equity ratio of 3.56, a quick ratio of 0.69 and a current ratio of 1.77. Hanesbrands has a one year low of $11.57 and a one year high of $19.38.

Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Thursday, August 1st. The textile maker reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. Hanesbrands had a return on equity of 63.57% and a net margin of 8.13%. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the prior year, the firm earned $0.45 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. Equities analysts forecast that Hanesbrands will post 1.76 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Tuesday, August 13th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $0.60 dividend on an annualized basis and a yield of 4.40%. Hanesbrands’s dividend payout ratio is currently 35.09%.

Hanesbrands Company Profile

Hanesbrands, Inc is a consumer goods company, which engages in the design, manufacture, sourcing, and sale of everyday basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia Pacific. It operates through the following three segments: Innerwear, Activewear and International.

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Analyst Recommendations for Hanesbrands (NYSE:HBI)

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