Hanesbrands (NYSE:HBI) PT Raised to $8.00 at Barclays

Hanesbrands (NYSE:HBI – Get Rating) had its price objective raised by analysts at Barclays from $7.00 to $8.00 in a research note issued on Friday, The Fly reports. The brokerage presently has an “equal weight” rating on the textile maker’s stock. Barclays‘s price target would suggest a potential downside of 1.48% from the company’s current price.

A number of other equities research analysts have also recently weighed in on HBI. StockNews.com assumed coverage on Hanesbrands in a research note on Wednesday, October 12th. They issued a “sell” rating on the stock. Credit Suisse Group cut Hanesbrands from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $10.00 to $7.00 in a research report on Wednesday, November 9th. Wells Fargo & Company cut Hanesbrands from an “overweight” rating to an “underweight” rating and lowered their price objective for the stock from $13.00 to $5.00 in a research report on Monday, October 31st. Finally, Citigroup lowered their price objective on Hanesbrands from $11.00 to $7.00 and set a “neutral” rating on the stock in a research report on Sunday, November 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.10.

Hanesbrands Stock Up 2.1 %

HBI opened at $8.12 on Friday. Hanesbrands has a 1-year low of $5.65 and a 1-year high of $16.98. The stock’s fifty day simple moving average is $6.71 and its 200 day simple moving average is $8.31. The company has a current ratio of 1.71, a quick ratio of 0.68 and a debt-to-equity ratio of 5.42. The stock has a market cap of $2.83 billion, a PE ratio of 8.12 and a beta of 1.46.

Hanesbrands (NYSE:HBI – Get Rating) last posted its quarterly earnings results on Wednesday, November 9th. The textile maker reported $0.29 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.29. Hanesbrands had a return on equity of 66.07% and a net margin of 5.39%. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the prior year, the business earned $0.53 EPS. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. As a group, research analysts expect that Hanesbrands will post 0.97 earnings per share for the current year.

Institutional Trading of Hanesbrands

Large investors have recently bought and sold shares of the business. Private Trust Co. NA acquired a new stake in Hanesbrands in the second quarter valued at about $36,000. Accurate Wealth Management LLC acquired a new stake in Hanesbrands in the fourth quarter valued at about $31,000. SeaCrest Wealth Management LLC acquired a new stake in Hanesbrands in the second quarter valued at about $45,000. Canada Pension Plan Investment Board boosted its stake in Hanesbrands by 41.9% in the first quarter. Canada Pension Plan Investment Board now owns 5,010 shares of the textile maker’s stock valued at $74,000 after buying an additional 1,480 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in Hanesbrands by 108.8% in the fourth quarter. Allworth Financial LP now owns 5,195 shares of the textile maker’s stock valued at $33,000 after buying an additional 2,707 shares in the last quarter. 81.87% of the stock is owned by institutional investors and hedge funds.

About Hanesbrands

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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.