UBS Group Forecasts Strong Price Appreciation for Hanesbrands (NYSE:HBI) Stock

Key Points

• Hanesbrands' price target has been raised by UBS Group from $8.00 to $9.00, indicating a potential upside of 87.30% from its current stock price.
• Despite the positive outlook from UBS, other analysts have varied ratings, with some setting lower price targets, including a drop to $5.00 from Stifel Nicolaus.
• The company reported an EPS of $0.24 for the last quarter, surpassing analyst expectations, but showed a slight revenue decline compared to the previous year.

Hanesbrands (NYSE:HBI - Get Free Report) had its target price upped by UBS Group from $8.00 to $9.00 in a research note issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the textile maker's stock. UBS Group's target price points to a potential upside of 87.30% from the company's current price.

Several other brokerages also recently commented on HBI. Wells Fargo & Company lifted 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. 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 dropped their price objective on Hanesbrands from $7.00 to $5.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. Finally, Wall Street Zen downgraded Hanesbrands from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $6.00.

Hanesbrands Trading Down 0.7%

HBI traded down $0.04 during midday trading on Friday, hitting $4.81. 1,010,797 shares of the company were exchanged, compared to its average volume of 6,301,761. The firm has a market capitalization of $1.70 billion, a P/E ratio of 20.06 and a beta of 1.40. Hanesbrands has a 1-year low of $3.96 and a 1-year high of $9.10. The firm's 50 day moving average price is $4.58 and its 200-day moving average price is $5.33. The company has a quick ratio of 0.74, a current ratio of 1.52 and a debt-to-equity ratio of 13.62.

Hanesbrands (NYSE:HBI - Get Free Report) last announced its earnings results on Thursday, August 7th. The textile maker reported $0.24 EPS for the quarter, topping the consensus estimate of $0.18 by $0.06. The firm had revenue of $991.33 million for the quarter, compared to the consensus estimate of $971.93 million. Hanesbrands had a return on equity of 226.31% and a net margin of 2.49%. The business's quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.15 EPS. As a group, equities analysts forecast that Hanesbrands will post 0.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HBI. LPL Financial LLC raised its stake in Hanesbrands by 12.3% during the 4th quarter. LPL Financial LLC now owns 454,132 shares of the textile maker's stock worth $3,697,000 after buying an additional 49,895 shares during the period. Norges Bank acquired a new position in Hanesbrands during the 4th quarter worth approximately $301,000. O Shaughnessy Asset Management LLC acquired a new position in Hanesbrands during the 4th quarter worth approximately $313,000. Wellington Management Group LLP acquired a new position in Hanesbrands during the 4th quarter worth approximately $7,922,000. Finally, Wells Fargo & Company MN raised its stake in Hanesbrands by 6.6% during the 4th quarter. Wells Fargo & Company MN now owns 643,556 shares of the textile maker's stock worth $5,239,000 after buying an additional 39,868 shares during the period. 80.31% of the stock is owned by institutional investors and hedge funds.

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.