Hanesbrands (NYSE:HBI) Price Target Lowered to $14.00 at Citigroup

Hanesbrands (NYSE:HBIGet Rating) had its price target dropped by stock analysts at Citigroup from $17.00 to $14.00 in a research note issued on Friday, The Fly reports. Citigroup’s price objective would indicate a potential upside of 10.15% from the company’s previous close.

HBI has been the topic of a number of other reports. Wells Fargo & Company cut their price target on Hanesbrands from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 5th. Credit Suisse Group cut their price target on Hanesbrands from $26.00 to $23.00 and set an “outperform” rating on the stock in a research note on Friday, February 4th. Stifel Nicolaus lowered Hanesbrands from a “buy” rating to a “hold” rating and cut their price target for the company from $26.00 to $13.00 in a research note on Thursday. Zacks Investment Research raised Hanesbrands from a “sell” rating to a “hold” rating and set a $16.00 price target on the stock in a research note on Thursday, March 17th. Finally, StockNews.com initiated coverage on Hanesbrands in a research report on Thursday, March 31st. They set a “hold” rating for the company. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.11.

NYSE:HBI opened at $12.71 on Friday. The stock’s 50-day simple moving average is $14.68 and its 200 day simple moving average is $15.90. The firm has a market capitalization of $4.43 billion, a PE ratio of 57.77 and a beta of 1.47. 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 twelve month low of $12.70 and a twelve month high of $22.82.

Hanesbrands (NYSE:HBIGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The textile maker reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.06. Hanesbrands had a return on equity of 108.10% and a net margin of 1.14%. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the firm posted $0.39 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts anticipate that Hanesbrands will post 1.77 EPS for the current fiscal year.

Hanesbrands announced that its Board of Directors has authorized a share buyback 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 stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

In other news, CEO Stephen B. Bratspies acquired 34,292 shares of the firm’s stock in a transaction dated Thursday, February 24th. The stock was purchased at an average price of $14.63 per share, for a total transaction of $501,691.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cheryl K. Beebe acquired 6,250 shares of the firm’s stock in a transaction dated Tuesday, February 8th. The shares were purchased at an average price of $15.61 per share, with a total value of $97,562.50. The disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FSB Premier Wealth Management Inc. purchased a new position in shares of Hanesbrands during the fourth quarter valued at approximately $28,000. CWM LLC purchased a new position in shares of Hanesbrands during the fourth quarter valued at approximately $38,000. Acadian Asset Management LLC boosted its position in shares of Hanesbrands by 109.5% during the fourth quarter. Acadian Asset Management LLC now owns 2,715 shares of the textile maker’s stock valued at $44,000 after buying an additional 1,419 shares during the last quarter. Quent Capital LLC purchased a new position in shares of Hanesbrands during the fourth quarter valued at approximately $44,000. Finally, Daiwa Securities Group Inc. boosted its position in shares of Hanesbrands by 35.0% during the third quarter. Daiwa Securities Group Inc. now owns 2,735 shares of the textile maker’s stock valued at $47,000 after buying an additional 709 shares during the last quarter. Hedge funds and other institutional investors own 87.58% of the company’s stock.

Hanesbrands Company Profile (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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