Hanesbrands (NYSE:HBI) Raised to Buy at UBS Group

Hanesbrands (NYSE:HBI) was upgraded by stock analysts at UBS Group from a “neutral” rating to a “buy” rating in a report issued on Tuesday, Marketbeat reports. The brokerage presently has a $11.00 price objective on the textile maker’s stock, up from their prior price objective of $9.00. UBS Group’s price target indicates a potential upside of 25.79% from the company’s previous close.

HBI has been the topic of several other research reports. Stifel Nicolaus raised their price target on shares of Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Barclays raised their price target on shares of Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Hanesbrands currently has a consensus rating of “Hold” and an average target price of $6.90.

Hanesbrands Price Performance

HBI opened at $8.75 on Tuesday. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of -13.23 and a beta of 1.58. Hanesbrands has a fifty-two week low of $3.58 and a fifty-two week high of $9.10. The company’s 50-day moving average price is $7.45 and its 200 day moving average price is $6.19. The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 21.50.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. The firm had revenue of $937.10 million for the quarter, compared to analyst estimates of $936.47 million. Hanesbrands had a negative net margin of 5.24% and a positive return on equity of 44.72%. Hanesbrands’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 earnings per share. As a group, sell-side analysts expect that Hanesbrands will post 0.39 earnings per share for the current year.

Institutional Trading of Hanesbrands

A number of large investors have recently added to or reduced their stakes in HBI. Vanguard Group Inc. boosted its holdings in Hanesbrands by 3.5% during the first quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker’s stock worth $233,542,000 after buying an additional 1,362,140 shares in the last quarter. Loews Corp boosted its stake in Hanesbrands by 108.7% in the 2nd quarter. Loews Corp now owns 29,197,796 shares of the textile maker’s stock worth $143,945,000 after purchasing an additional 15,206,007 shares during the period. Cooke & Bieler LP boosted its stake in Hanesbrands by 2.1% in the 2nd quarter. Cooke & Bieler LP now owns 16,329,763 shares of the textile maker’s stock worth $80,506,000 after purchasing an additional 342,056 shares during the period. Geode Capital Management LLC boosted its stake in Hanesbrands by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 7,914,447 shares of the textile maker’s stock worth $58,183,000 after purchasing an additional 89,367 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Hanesbrands by 18.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,661,235 shares of the textile maker’s stock worth $32,836,000 after purchasing an additional 1,024,308 shares during the period. 80.31% of the stock is currently owned by institutional investors.

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.