Hanesbrands Inc. (NYSE:HBI) Receives Average Recommendation of “Hold” from Brokerages

Shares of Hanesbrands Inc. (NYSE:HBI) have earned an average rating of “Hold” from the six research firms that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $6.60.

Several brokerages have issued reports on HBI. Citigroup increased their price target on Hanesbrands from $5.50 to $7.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Hanesbrands in a research report on Wednesday, October 8th.

Hanesbrands Trading Up 2.8%

NYSE HBI opened at $6.65 on Wednesday. The business has a 50 day simple moving average of $6.64 and a 200 day simple moving average of $5.91. Hanesbrands has a one year low of $3.96 and a one year high of $8.98. The stock has a market capitalization of $2.35 billion, a P/E ratio of 7.23 and a beta of 1.50. The company has a debt-to-equity ratio of 4.94, a current ratio of 1.51 and a quick ratio of 0.71.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings results on Thursday, November 6th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.01). Hanesbrands had a net margin of 9.34% and a return on equity of 129.43%. The business had revenue of $891.68 million during the quarter, compared to analyst estimates of $905.37 million. During the same period last year, the firm posted $0.15 earnings per share. Hanesbrands’s quarterly revenue was down 1.0% compared to the same quarter last year. Research analysts expect that Hanesbrands will post 0.53 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. AQR Arbitrage LLC bought a new stake in Hanesbrands during the 3rd quarter worth approximately $33,638,000. Brandes Investment Partners LP boosted its position in shares of Hanesbrands by 51.2% during the second quarter. Brandes Investment Partners LP now owns 12,423,152 shares of the textile maker’s stock valued at $56,898,000 after buying an additional 4,205,103 shares during the last quarter. Magnetar Financial LLC bought a new stake in Hanesbrands during the third quarter worth $22,740,000. Citigroup Inc. grew its holdings in Hanesbrands by 848.3% during the third quarter. Citigroup Inc. now owns 3,104,535 shares of the textile maker’s stock worth $20,459,000 after buying an additional 2,777,149 shares in the last quarter. Finally, Water Island Capital LLC purchased a new stake in Hanesbrands in the 3rd quarter valued at $14,924,000. 80.31% of the stock is currently owned by institutional investors and hedge funds.

Hanesbrands Company Profile

Hanesbrands Inc is a leading global apparel company specializing in everyday basics and activewear. The company’s product portfolio encompasses underwear, bras, socks, hosiery, T-shirts, and performance apparel under well-known brands such as Hanes, Champion, Playtex, DIM, Maidenform, and Bonds. Through a combination of trusted brand equity and a focus on comfort, fit, and quality, Hanesbrands serves a broad consumer base across multiple demographic segments.

Established in 2006 following its spin-off from the Sara Lee Corporation, Hanesbrands has grown through strategic acquisitions and organic expansion.