Hanesbrands (NYSE:HBI) Upgraded at Barclays

Hanesbrands (NYSE:HBI) was upgraded by analysts at Barclays from an “equal weight” rating to an “overweight” rating in a report issued on Friday, Marketbeat reports. The brokerage currently has a $18.00 price objective on the textile maker’s stock, up from their previous price objective of $15.00. Barclays‘s price target suggests a potential upside of 27.39% from the company’s current price.

A number of other equities analysts have also recently issued reports on HBI. Stifel Nicolaus lifted their target price on Hanesbrands from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Sunday, July 19th. Wells Fargo & Co raised Hanesbrands from a “neutral” rating to an “outperform” rating in a research report on Tuesday, July 14th. BofA Securities raised Hanesbrands from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $8.50 to $14.00 in a research report on Wednesday, July 15th. B. Riley lifted their price objective on Hanesbrands from $14.00 to $16.00 in a research report on Wednesday, July 22nd. Finally, Deutsche Bank reduced their price objective on Hanesbrands from $15.00 to $9.00 and set a “hold” rating for the company in a research report on Friday, April 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Hanesbrands currently has a consensus rating of “Hold” and a consensus price target of $14.19.

Shares of HBI stock traded down $0.13 during mid-day trading on Friday, hitting $14.13. 19,984,108 shares of the stock traded hands, compared to its average volume of 8,264,480. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.11 and a current ratio of 2.01. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 9.68, a price-to-earnings-growth ratio of 4.69 and a beta of 1.54. The company’s 50-day simple moving average is $12.15 and its 200-day simple moving average is $11.44. Hanesbrands has a twelve month low of $6.96 and a twelve month high of $16.40.

Hanesbrands (NYSE:HBI) last issued its earnings results on Thursday, July 30th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.62. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Hanesbrands had a return on equity of 55.54% and a net margin of 7.88%. The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 EPS. Analysts forecast that Hanesbrands will post 0.91 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. OmniStar Financial Group Inc. bought a new position in Hanesbrands during the first quarter valued at about $29,000. NuWave Investment Management LLC increased its stake in Hanesbrands by 45.4% during the second quarter. NuWave Investment Management LLC now owns 3,479 shares of the textile maker’s stock valued at $37,000 after acquiring an additional 1,087 shares during the period. FDx Advisors Inc. bought a new position in Hanesbrands during the first quarter valued at about $68,000. Carroll Financial Associates Inc. increased its stake in Hanesbrands by 76.3% during the first quarter. Carroll Financial Associates Inc. now owns 9,128 shares of the textile maker’s stock valued at $71,000 after acquiring an additional 3,950 shares during the period. Finally, Cigna Investments Inc. New bought a new position in Hanesbrands during the first quarter valued at about $80,000. Hedge funds and other institutional investors own 98.52% of the company’s stock.

About Hanesbrands

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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