Hanesbrands Inc. (NYSE:HBI) Receives Average Recommendation of “Hold” from Brokerages

Shares of Hanesbrands Inc. (NYSE:HBIGet Rating) have been assigned a consensus rating of “Hold” from the ten analysts that are presently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $18.22.

A number of analysts recently commented on HBI shares. Stifel Nicolaus cut Hanesbrands from a “buy” rating to a “hold” rating and reduced their price objective for the company from $26.00 to $13.00 in a research report on Thursday, May 5th. Citigroup reduced their price target on Hanesbrands from $17.00 to $14.00 in a research report on Friday, May 6th. Barclays reduced their price target on Hanesbrands from $20.00 to $18.00 in a research report on Tuesday. StockNews.com assumed coverage on Hanesbrands in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Wells Fargo & Company reduced their price target on Hanesbrands from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, April 5th.

In other Hanesbrands news, CEO Stephen B. Bratspies acquired 34,292 shares of the company’s 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its stake in Hanesbrands by 46.5% during the first quarter. Renaissance Technologies LLC now owns 2,708,900 shares of the textile maker’s stock valued at $40,336,000 after buying an additional 859,223 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new position in Hanesbrands during the first quarter valued at approximately $493,000. Charles Schwab Investment Management Inc. boosted its stake in Hanesbrands by 4.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,156,694 shares of the textile maker’s stock valued at $32,113,000 after buying an additional 98,314 shares during the last quarter. Mariner LLC raised its position in Hanesbrands by 29.9% during the first quarter. Mariner LLC now owns 296,672 shares of the textile maker’s stock valued at $4,417,000 after purchasing an additional 68,310 shares during the period. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in Hanesbrands by 19.7% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 45,600 shares of the textile maker’s stock valued at $678,000 after purchasing an additional 7,500 shares during the period. 87.58% of the stock is owned by institutional investors.

Hanesbrands stock opened at $13.06 on Friday. The stock has a market cap of $4.56 billion, a PE ratio of 9.97 and a beta of 1.47. The company has a debt-to-equity ratio of 4.27, a quick ratio of 0.72 and a current ratio of 1.60. Hanesbrands has a one year low of $12.11 and a one year high of $20.74. The stock has a fifty day moving average of $14.37 and a 200 day moving average of $15.75.

Hanesbrands (NYSE:HBIGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The textile maker reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.06. The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Hanesbrands had a return on equity of 93.47% and a net margin of 6.68%. Hanesbrands’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.39 earnings per share. As a group, sell-side analysts predict that Hanesbrands will post 1.68 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 31st. Stockholders of record on Tuesday, May 10th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date of this dividend is Monday, May 9th. Hanesbrands’s dividend payout ratio (DPR) is 45.80%.

Hanesbrands declared that its board has authorized 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 reacquire up to 10.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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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Analyst Recommendations for Hanesbrands (NYSE:HBI)

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