Hanesbrands (NYSE:HBI) Lowered to Hold Rating by Wall Street Zen

Key Points

• Hanesbrands was recently downgraded from a "buy" to a "hold" rating by Wall Street Zen, reflecting concerns among analysts about the company's future performance.
• Analysts have varying price targets for HBI, with Barclays setting it at $6.00 and Stifel Nicolaus lowering it from $7.00 to $5.00, indicating uncertainty in the stock's valuation.
• Hanesbrands reported an earnings per share of $0.07 for the latest quarter, exceeding expectations, and showed a revenue increase of 2.1% compared to the same period last year.

Hanesbrands (NYSE:HBI - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

Other equities research analysts have also recently issued reports about the company. Barclays set a $6.00 target price on Hanesbrands and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Stifel Nicolaus lowered their target price on Hanesbrands from $7.00 to $5.00 and set a "hold" rating for the company in a report on Thursday, April 10th. UBS Group upped their price objective on Hanesbrands from $7.00 to $8.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company upped their price objective on Hanesbrands from $3.00 to $4.00 and gave the stock an "underweight" rating in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $5.75.

Hanesbrands Price Performance

Shares of HBI stock opened at $4.57 on Friday. Hanesbrands has a twelve month low of $4.02 and a twelve month high of $9.10. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of -5.43 and a beta of 1.47. The stock has a fifty day simple moving average of $4.73 and a two-hundred day simple moving average of $5.65. The company has a current ratio of 1.55, a quick ratio of 0.67 and a debt-to-equity ratio of 53.45.

Hanesbrands (NYSE:HBI - Get Free Report) last issued its earnings results on Thursday, May 8th. The textile maker reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.04. Hanesbrands had a positive return on equity of 262.15% and a negative net margin of 8.12%. The business had revenue of $760.15 million during the quarter, compared to analysts' expectations of $757.42 million. During the same period in the prior year, the business earned ($0.02) EPS. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts predict that Hanesbrands will post 0.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Hanesbrands

Hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC increased its position in Hanesbrands by 4.3% during the 4th quarter. NewEdge Advisors LLC now owns 46,806 shares of the textile maker's stock valued at $381,000 after buying an additional 1,944 shares in the last quarter. Summit Investment Advisors Inc. increased its position in Hanesbrands by 5.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 36,964 shares of the textile maker's stock valued at $301,000 after buying an additional 1,973 shares in the last quarter. IFP Advisors Inc increased its position in Hanesbrands by 13.5% during the 2nd quarter. IFP Advisors Inc now owns 18,518 shares of the textile maker's stock valued at $85,000 after buying an additional 2,208 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in Hanesbrands by 9.4% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 26,288 shares of the textile maker's stock valued at $152,000 after buying an additional 2,255 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in Hanesbrands by 37.8% during the 1st quarter. Fifth Third Bancorp now owns 8,259 shares of the textile maker's stock valued at $48,000 after buying an additional 2,267 shares in the last quarter. 80.31% of the stock is currently owned by hedge funds and other institutional investors.

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.

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