Stifel Nicolaus Downgrades Hanesbrands (NYSE:HBI) to Hold

Hanesbrands (NYSE:HBIGet Rating) was downgraded by Stifel Nicolaus from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, The Fly reports. They currently have a $13.00 target price on the textile maker’s stock, down from their prior target price of $26.00. Stifel Nicolaus’ target price points to a potential upside of 3.17% from the stock’s current price.

Several other equities research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Hanesbrands from a “sell” rating to a “hold” rating and set a $16.00 target price for the company in a research note on Thursday, March 17th. Credit Suisse Group cut their target price on shares of Hanesbrands from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, February 4th. Wells Fargo & Company cut their price objective on shares of Hanesbrands from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, April 5th. Finally, StockNews.com began coverage on shares of 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $19.11.

HBI stock opened at $12.60 on Thursday. The stock has a market cap of $4.39 billion, a PE ratio of 57.27 and a beta of 1.47. The stock has a 50-day moving average price of $14.62 and a two-hundred day moving average price of $15.88. The company has a current ratio of 1.52, a quick ratio of 0.84 and a debt-to-equity ratio of 4.73. Hanesbrands has a 1 year low of $12.20 and a 1 year high of $22.82.

Hanesbrands (NYSE:HBIGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The textile maker reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.06. Hanesbrands had a return on equity of 108.10% and a net margin of 1.14%. The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the company earned $0.39 EPS. Hanesbrands’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, analysts forecast that Hanesbrands will post 1.77 earnings per share for the current fiscal 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 outstanding shares. This repurchase authorization allows the textile maker to reacquire up to 10.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

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 business’s stock in a transaction on Thursday, February 24th. The shares were acquired at an average cost of $14.63 per share, for a total transaction of $501,691.96. The disclosure for this purchase can be found here. 0.29% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vantage Consulting Group Inc increased its holdings in shares of Hanesbrands by 5.4% during the 3rd quarter. Vantage Consulting Group Inc now owns 11,019 shares of the textile maker’s stock valued at $189,000 after purchasing an additional 561 shares in the last quarter. Neo Ivy Capital Management increased its holdings in Hanesbrands by 19.3% in the 4th quarter. Neo Ivy Capital Management now owns 4,215 shares of the textile maker’s stock worth $70,000 after acquiring an additional 681 shares in the last quarter. CWM LLC increased its holdings in Hanesbrands by 30.4% in the 1st quarter. CWM LLC now owns 3,002 shares of the textile maker’s stock worth $45,000 after acquiring an additional 700 shares in the last quarter. Prospera Financial Services Inc increased its holdings in Hanesbrands by 4.5% in the 3rd quarter. Prospera Financial Services Inc now owns 16,501 shares of the textile maker’s stock worth $283,000 after acquiring an additional 706 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in Hanesbrands by 35.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,735 shares of the textile maker’s stock worth $47,000 after acquiring an additional 709 shares in the last quarter. Institutional investors and hedge funds own 87.58% of the company’s stock.

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.

Further Reading

The Fly logo

Analyst Recommendations for Hanesbrands (NYSE:HBI)

Receive News & Ratings for Hanesbrands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanesbrands and related companies with MarketBeat.com's FREE daily email newsletter.