Hanesbrands (NYSE:HBI) Stock Price Expected to Rise, Barclays Analyst Says

Hanesbrands (NYSE:HBI) had its price objective boosted by investment analysts at Barclays from $5.00 to $6.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the textile maker’s stock. Barclays‘s price target suggests a potential upside of 12.36% from the company’s current price.

A number of other brokerages have also recently commented on HBI. UBS Group upped their target price on shares of Hanesbrands from $7.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Stifel Nicolaus reduced their price objective on Hanesbrands from $7.00 to $5.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. Finally, Wells Fargo & Company raised their target price on Hanesbrands from $3.00 to $4.00 and gave the stock an “underweight” rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.60.

Hanesbrands Stock Performance

Shares of HBI opened at $5.34 on Tuesday. The firm has a market capitalization of $1.89 billion, a P/E ratio of -5.80 and a beta of 1.50. The company has a debt-to-equity ratio of 64.28, a current ratio of 1.37 and a quick ratio of 0.68. Hanesbrands has a one year low of $4.02 and a one year high of $9.10. The business has a fifty day moving average of $5.10 and a 200 day moving average of $6.84.

Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Thursday, May 8th. The textile maker reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.04. Hanesbrands had a positive return on equity of 108.01% and a negative net margin of 8.06%. The business had revenue of $760.15 million during the quarter, compared to the consensus estimate of $757.42 million. During the same period in the previous year, the company posted ($0.02) EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hanesbrands will post 0.53 EPS for the current year.

Hedge Funds Weigh In On Hanesbrands

Large investors have recently added to or reduced their stakes in the company. GeoWealth Management LLC raised its position in shares of Hanesbrands by 2,278.8% during the 4th quarter. GeoWealth Management LLC now owns 3,473 shares of the textile maker’s stock valued at $28,000 after purchasing an additional 3,327 shares during the period. CX Institutional purchased a new stake in Hanesbrands in the 1st quarter worth $34,000. Smartleaf Asset Management LLC increased its stake in Hanesbrands by 122.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,920 shares of the textile maker’s stock worth $40,000 after buying an additional 2,712 shares in the last quarter. AlphaQuest LLC bought a new stake in Hanesbrands during the first quarter valued at about $44,000. Finally, Transce3nd LLC purchased a new position in shares of Hanesbrands in the fourth quarter valued at about $45,000. Hedge funds and other institutional investors own 80.31% of the company’s stock.

About Hanesbrands

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.