Analysts Set Hanesbrands Inc. (NYSE:HBI) Price Target at $5.80

Hanesbrands Inc. (NYSE:HBI) has earned a consensus recommendation of “Hold” from the five research firms that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $5.80.

HBI has been the topic of a number of research analyst reports. Stifel Nicolaus upped their target price on shares of Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. UBS Group increased their price objective on Hanesbrands from $5.00 to $6.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 27th. Barclays lifted their target price on Hanesbrands from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Finally, Wedbush reissued a “neutral” rating and set a $5.00 price target on shares of Hanesbrands in a research report on Thursday, June 6th.

Institutional Trading of Hanesbrands

Several hedge funds have recently modified their holdings of HBI. Concord Wealth Partners boosted its stake in Hanesbrands by 220.3% in the first quarter. Concord Wealth Partners now owns 5,260 shares of the textile maker’s stock valued at $31,000 after acquiring an additional 3,618 shares in the last quarter. Tradewinds Capital Management LLC acquired a new stake in shares of Hanesbrands in the 1st quarter worth $35,000. Rothschild Investment LLC purchased a new stake in Hanesbrands in the second quarter valued at about $39,000. Hollencrest Capital Management acquired a new stake in Hanesbrands in the first quarter worth about $41,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Hanesbrands during the first quarter worth about $44,000. 80.31% of the stock is owned by hedge funds and other institutional investors.

Hanesbrands Stock Down 3.9 %

Shares of NYSE:HBI opened at $6.71 on Friday. The firm has a market capitalization of $2.36 billion, a PE ratio of -111.75 and a beta of 1.57. The business has a 50 day simple moving average of $6.10 and a two-hundred day simple moving average of $5.39. Hanesbrands has a 1 year low of $3.54 and a 1 year high of $7.06. The company has a debt-to-equity ratio of 50.06, a current ratio of 1.46 and a quick ratio of 0.86.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings data on Thursday, August 8th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. Hanesbrands had a positive return on equity of 33.23% and a negative net margin of 6.02%. The company had revenue of $995.40 million during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the business earned ($0.01) EPS. Hanesbrands’s revenue was down 3.8% compared to the same quarter last year. On average, equities analysts predict that Hanesbrands will post 0.35 EPS for the current year.

Hanesbrands Company Profile

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of range of innerwear apparels for men, women, and children in the Americas, Europe, the Asia pacific, and internationally. The company operates through three segments: Innerwear, Activewear, and International.