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

Hanesbrands (NYSE:HBIGet Free Report) was upgraded by stock analysts at UBS Group from a “neutral” rating to a “buy” rating in a report issued on Tuesday,Briefing.com Automated Import reports. The firm 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 suggests a potential upside of 30.18% from the stock’s previous close.

A number of other brokerages also recently issued reports on HBI. Barclays boosted their price objective on shares of Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. 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 report on Monday, August 12th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Hanesbrands has an average rating of “Hold” and an average price target of $6.90.

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Hanesbrands Trading Down 1.1 %

Shares of HBI stock opened at $8.45 on Tuesday. Hanesbrands has a 1 year low of $3.58 and a 1 year high of $8.90. The firm has a fifty day moving average price of $7.37 and a 200-day moving average price of $6.13. The company has a debt-to-equity ratio of 21.50, a current ratio of 1.49 and a quick ratio of 0.90. The company has a market cap of $2.98 billion, a price-to-earnings ratio of -12.80 and a beta of 1.58.

Hanesbrands (NYSE:HBIGet Free Report) last issued its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. Hanesbrands had a negative net margin of 5.24% and a positive return on equity of 44.72%. The firm had revenue of $937.10 million during the quarter, compared to the consensus estimate of $936.47 million. During the same quarter in the previous year, the firm posted $0.10 EPS. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, equities analysts predict that Hanesbrands will post 0.39 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Hanesbrands by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker’s stock valued at $233,542,000 after buying an additional 1,362,140 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in Hanesbrands by 9.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 353,985 shares of the textile maker’s stock worth $2,050,000 after purchasing an additional 31,829 shares during the period. Price T Rowe Associates Inc. MD raised its position in Hanesbrands by 8.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 163,147 shares of the textile maker’s stock worth $947,000 after purchasing an additional 12,637 shares during the period. Cetera Advisors LLC raised its position in Hanesbrands by 233.4% in the 1st quarter. Cetera Advisors LLC now owns 35,481 shares of the textile maker’s stock worth $206,000 after purchasing an additional 24,839 shares during the period. Finally, Keynote Financial Services LLC purchased a new stake in Hanesbrands in the 1st quarter worth about $370,000. Institutional investors own 80.31% of the company’s stock.

About Hanesbrands

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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.

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