Hanesbrands (NYSE:HBI - Get Rating) had its target price decreased by investment analysts at Barclays to $7.00 in a research note issued to investors on Wednesday, Stock Target Advisor reports. Barclays's price target would indicate a potential downside of 3.98% from the company's current price.
Several other equities research analysts have also commented on the stock. CL King lowered their price target on shares of Hanesbrands from $17.00 to $15.00 in a report on Friday, August 12th. Wells Fargo & Company downgraded shares of Hanesbrands from an "overweight" rating to an "underweight" rating and decreased their price objective for the stock from $13.00 to $5.00 in a research report on Monday, October 31st. Stifel Nicolaus decreased their price objective on shares of Hanesbrands from $11.00 to $10.00 in a research report on Wednesday, July 20th. StockNews.com initiated coverage on shares of Hanesbrands in a research report on Wednesday, October 12th. They set a "sell" rating for the company. Finally, B. Riley reduced their price target on shares of Hanesbrands from $18.00 to $14.00 and set a "buy" rating for the company in a research report on Friday, August 12th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $10.00.
Hanesbrands Stock Down 3.8 %
NYSE:HBI traded down $0.29 during trading hours on Wednesday, reaching $7.29. The company's stock had a trading volume of 401,402 shares, compared to its average volume of 11,016,531. The company has a market capitalization of $2.54 billion, a P/E ratio of 7.32 and a beta of 1.49. Hanesbrands has a 12 month low of $6.40 and a 12 month high of $17.96. The company has a debt-to-equity ratio of 5.42, a quick ratio of 0.68 and a current ratio of 1.71. The stock has a 50 day moving average price of $7.65 and a two-hundred day moving average price of $9.80.
Hanesbrands (NYSE:HBI - Get Rating) last issued its quarterly earnings data on Wednesday, November 9th. The textile maker reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.02. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.70 billion. Hanesbrands had a net margin of 5.39% and a return on equity of 66.07%. Hanesbrands's revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.53 earnings per share. Equities analysts predict that Hanesbrands will post 0.97 EPS for the current fiscal year.
Insider Buying and Selling at Hanesbrands
In other news, CEO Stephen B. Bratspies purchased 30,000 shares of the stock in a transaction that occurred on Tuesday, September 6th. The shares were acquired at an average price of $8.65 per share, for a total transaction of $259,500.00. Following the acquisition, the chief executive officer now directly owns 123,754 shares in the company, valued at approximately $1,070,472.10. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Stephen B. Bratspies bought 30,000 shares of the stock in a transaction on Tuesday, September 6th. The shares were purchased at an average price of $8.65 per share, for a total transaction of $259,500.00. Following the acquisition, the chief executive officer now owns 123,754 shares in the company, valued at $1,070,472.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tracy M. Preston bought 3,000 shares of the stock in a transaction on Monday, September 12th. The shares were bought at an average price of $9.36 per share, for a total transaction of $28,080.00. Following the acquisition, the insider now owns 3,000 shares in the company, valued at approximately $28,080. The disclosure for this purchase can be found here. Insiders purchased a total of 37,000 shares of company stock valued at $322,600 in the last ninety days. Insiders own 0.29% of the company's stock.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the company. Belpointe Asset Management LLC raised its position in shares of Hanesbrands by 2.1% in the 2nd quarter. Belpointe Asset Management LLC now owns 46,411 shares of the textile maker's stock worth $478,000 after buying an additional 934 shares during the period. Intrua Financial LLC increased its holdings in Hanesbrands by 5.8% in the 1st quarter. Intrua Financial LLC now owns 17,218 shares of the textile maker's stock valued at $256,000 after purchasing an additional 949 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in Hanesbrands by 2.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 50,117 shares of the textile maker's stock valued at $515,000 after purchasing an additional 990 shares in the last quarter. Alliance Wealth Advisors LLC increased its holdings in Hanesbrands by 5.5% in the 2nd quarter. Alliance Wealth Advisors LLC now owns 20,265 shares of the textile maker's stock valued at $209,000 after purchasing an additional 1,050 shares in the last quarter. Finally, Powers Advisory Group LLC increased its holdings in Hanesbrands by 5.4% in the 2nd quarter. Powers Advisory Group LLC now owns 20,809 shares of the textile maker's stock valued at $214,000 after purchasing an additional 1,057 shares in the last quarter. 88.53% of the stock is owned by hedge funds and other institutional investors.
Hanesbrands Company Profile
Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children. The company operates through three segments: Innerwear, Activewear, and International. It sells men's underwear, women's panties, children's underwear, activewear, and socks, as well as intimate apparel, such as bras and shapewears; home goods; and T-shirts, fleece, performance apparel, sport shirts, performance T-shirts and shorts, sports bras, teamwear, and thermals, as well as licensed logo apparel in collegiate bookstores, mass retailers, and other channels.
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