Hanesbrands Inc. (NYSE:HBI) Receives Average Recommendation of “Buy” from Analysts

Shares of Hanesbrands Inc. (NYSE:HBI – Get Rating) have been given a consensus rating of “Buy” by the ten ratings firms that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $21.25.

Several research analysts have weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Hanesbrands from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 5th. StockNews.com initiated coverage on shares of Hanesbrands in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research upgraded shares of Hanesbrands from a “sell” rating to a “hold” rating and set a $16.00 price objective on the stock in a research report on Thursday, March 17th. Finally, Credit Suisse Group decreased their price objective on shares of Hanesbrands from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, February 4th.

In other news, Director Cheryl K. Beebe bought 6,250 shares of the stock in a transaction dated Tuesday, February 8th. The stock was purchased at an average price of $15.61 per share, for a total transaction of $97,562.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Stephen B. Bratspies bought 34,292 shares of the stock in a transaction dated Thursday, February 24th. The stock was purchased at an average price of $14.63 per share, with a total value of $501,691.96. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund lifted its holdings in shares of Hanesbrands by 288.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 113,225 shares of the textile maker’s stock worth $1,893,000 after acquiring an additional 84,100 shares during the last quarter. Captrust Financial Advisors lifted its holdings in Hanesbrands by 393.6% during the 3rd quarter. Captrust Financial Advisors now owns 81,073 shares of the textile maker’s stock valued at $1,391,000 after buying an additional 64,647 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Hanesbrands during the 4th quarter valued at about $5,484,000. PNC Financial Services Group Inc. lifted its holdings in Hanesbrands by 10.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 138,527 shares of the textile maker’s stock valued at $2,376,000 after buying an additional 12,926 shares in the last quarter. Finally, Yousif Capital Management LLC bought a new stake in Hanesbrands during the 4th quarter valued at about $3,208,000. Hedge funds and other institutional investors own 89.16% of the company’s stock.

HBI opened at $14.19 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 1.52 and a debt-to-equity ratio of 4.73. Hanesbrands has a 1-year low of $13.71 and a 1-year high of $22.82. The company has a market capitalization of $4.95 billion, a P/E ratio of 64.50 and a beta of 1.49. The stock has a 50 day simple moving average of $15.09.

Hanesbrands (NYSE:HBI – Get Rating) last released its quarterly earnings results on Thursday, February 3rd. The textile maker reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.01. Hanesbrands had a net margin of 1.14% and a return on equity of 108.10%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period last year, the firm earned $0.38 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, research analysts expect that Hanesbrands will post 1.77 earnings per share for the current year.

Hanesbrands declared that its Board of Directors has approved a share repurchase program on Thursday, February 3rd that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the textile maker to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 8th. Investors of record on Tuesday, February 15th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, February 14th. This represents a $0.60 annualized dividend and a yield of 4.23%. Hanesbrands’s payout ratio is 272.73%.

About Hanesbrands (Get Rating)

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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