Cowen and Company lowered shares of HanesBrands Inc. (NYSE:HBI) from an outperform rating to a market perform rating in a research note released on Wednesday morning. The firm currently has $27.00 target price on the stock, down from their previous target price of $33.00.
A number of other equities research analysts have also weighed in on the stock. Credit Suisse Group AG reiterated a buy rating and set a $37.00 price objective on shares of HanesBrands in a report on Wednesday, September 14th. Zacks Investment Research upgraded shares of HanesBrands from a sell rating to a hold rating in a report on Tuesday, August 23rd. Citigroup Inc. reduced their price target on shares of HanesBrands from $37.00 to $32.00 and set a buy rating for the company in a report on Thursday, August 4th. Oppenheimer Holdings Inc. restated an outperform rating and issued a $35.00 price target on shares of HanesBrands in a report on Tuesday, August 2nd. Finally, FBR & Co restated an outperform rating and issued a $39.00 price target on shares of HanesBrands in a report on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $33.79.
Shares of HanesBrands (NYSE:HBI) opened at 24.38 on Wednesday. The stock has a market cap of $9.21 billion, a PE ratio of 19.57 and a beta of 0.94. The stock’s 50 day moving average is $25.87 and its 200-day moving average is $26.73. HanesBrands has a 12-month low of $23.25 and a 12-month high of $33.24.
HanesBrands (NYSE:HBI) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by $0.01. HanesBrands had a net margin of 8.60% and a return on equity of 59.48%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the business earned $0.50 EPS. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. Equities analysts expect that HanesBrands will post $1.92 EPS for the current year.
In other news, CEO Richard A. Noll acquired 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was purchased at an average price of $25.74 per share, with a total value of $514,800.00. Following the completion of the acquisition, the chief executive officer now owns 870,077 shares of the company’s stock, valued at approximately $22,395,781.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. raised its stake in shares of HanesBrands by 402.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 4,946,854 shares of the company’s stock worth $140,194,000 after buying an additional 3,962,084 shares in the last quarter. Columbia Wanger Asset Management LLC purchased a new stake in shares of HanesBrands during the second quarter worth about $59,627,000. Meritage Group LP raised its stake in shares of HanesBrands by 112.9% in the second quarter. Meritage Group LP now owns 3,673,626 shares of the company’s stock worth $92,318,000 after buying an additional 1,948,446 shares in the last quarter. RidgeWorth Capital Management LLC raised its stake in shares of HanesBrands by 170.5% in the second quarter. RidgeWorth Capital Management LLC now owns 2,887,677 shares of the company’s stock worth $73,924,000 after buying an additional 1,820,170 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. raised its stake in shares of HanesBrands by 2,185.8% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,472,028 shares of the company’s stock worth $36,993,000 after buying an additional 1,407,628 shares in the last quarter. 91.42% of the stock is owned by hedge funds and other institutional investors.
Hanesbrands Inc is a manufacturer and marketer of apparels. The Company operates through four segments: Innerwear, Activewear, Direct to Consumer and International. The Company’s portfolio of brands includes Hanes, Champion, Maidenform, DIM, Playtex, Bali, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Lilyette and Gear for Sports.
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