Wedbush Increases Hanesbrands (NYSE:HBI) Price Target to $5.00

Hanesbrands (NYSE:HBIFree Report) had its target price increased by Wedbush from $4.50 to $5.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the textile maker’s stock.

HBI has been the subject of several other reports. Citigroup cut their target price on shares of Hanesbrands from $5.00 to $4.50 and set a neutral rating for the company in a research report on Friday, February 16th. Stifel Nicolaus cut their target price on shares of Hanesbrands from $5.00 to $4.50 and set a hold rating for the company in a research report on Thursday, December 14th. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $5.00.

Check Out Our Latest Stock Analysis on HBI

Hanesbrands Stock Performance

Shares of HBI stock opened at $5.16 on Wednesday. The company has a 50 day moving average price of $5.03 and a 200-day moving average price of $4.42. Hanesbrands has a 52 week low of $3.54 and a 52 week high of $5.86. The firm has a market capitalization of $1.81 billion, a PE ratio of -103.18 and a beta of 1.58. The company has a quick ratio of 0.65, a current ratio of 1.64 and a debt-to-equity ratio of 7.72.

Hanesbrands (NYSE:HBIGet Free Report) last announced its quarterly earnings results on Thursday, February 15th. The textile maker reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). Hanesbrands had a positive return on equity of 5.84% and a negative net margin of 0.31%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the firm earned $0.07 earnings per share. The business’s revenue was down 12.0% compared to the same quarter last year. As a group, equities research analysts expect that Hanesbrands will post 0.44 earnings per share for the current year.

Hedge Funds Weigh In On Hanesbrands

Hedge funds have recently modified their holdings of the company. Deutsche Bank AG boosted its position in shares of Hanesbrands by 98.4% in the third quarter. Deutsche Bank AG now owns 473,745 shares of the textile maker’s stock worth $1,876,000 after purchasing an additional 234,978 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Hanesbrands by 5.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,866,694 shares of the textile maker’s stock worth $15,312,000 after buying an additional 209,214 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Hanesbrands by 2.1% in the third quarter. Nordea Investment Management AB now owns 246,354 shares of the textile maker’s stock worth $935,000 after buying an additional 5,006 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Hanesbrands in the fourth quarter worth $427,000. Finally, Wolverine Asset Management LLC lifted its holdings in shares of Hanesbrands by 160.4% in the third quarter. Wolverine Asset Management LLC now owns 435,051 shares of the textile maker’s stock worth $1,723,000 after buying an additional 267,988 shares in the last quarter. 80.31% of the stock is currently owned by institutional investors.

Hanesbrands Company Profile

(Get Free Report)

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of range of innerwear apparels for men, women, and children in the Americas, Europe, the Asia pacific, and internationally. The company operates through three segments: Innerwear, Activewear, and International.

Further Reading

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.