UBS AG restated their buy rating on shares of Hanesbrands Inc. (NYSE:HBI) in a research note published on Tuesday, August 8th, www.flashratings.com reports. They currently have a $27.00 price target on the textile maker’s stock, up from their prior price target of $25.00.
Several other equities analysts have also commented on the company. Zacks Investment Research raised Hanesbrands from a hold rating to a buy rating and set a $27.00 price target on the stock in a research note on Tuesday, August 8th. Morgan Stanley upped their price target on Hanesbrands from $22.00 to $24.00 and gave the company an equal weight rating in a research note on Monday, August 7th. Vetr lowered Hanesbrands from a strong-buy rating to a buy rating and set a $26.36 target price on the stock. in a research note on Monday, August 7th. Credit Suisse Group restated a buy rating and set a $30.00 price target on shares of Hanesbrands in a report on Thursday, August 3rd. Finally, Oppenheimer Holdings, Inc. set a $32.00 target price on Hanesbrands and gave the company a buy rating in a research report on Tuesday, August 1st. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Hanesbrands has a consensus rating of Buy and a consensus price target of $27.57.
Hanesbrands (HBI) opened at 23.53 on Tuesday. Hanesbrands has a 52-week low of $18.91 and a 52-week high of $28.24. The firm has a market capitalization of $8.58 billion, a PE ratio of 15.42 and a beta of 0.73. The company’s 50-day moving average is $23.44 and its 200-day moving average is $21.73.
Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Tuesday, August 1st. The textile maker reported $0.53 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.53. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. Hanesbrands had a return on equity of 64.80% and a net margin of 9.02%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 earnings per share. Analysts forecast that Hanesbrands will post $1.99 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Tuesday, August 15th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Friday, August 11th. Hanesbrands’s dividend payout ratio is currently 39.47%.
In other news, insider W Howard Upchurch, Jr. sold 55,850 shares of Hanesbrands stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $22.90, for a total transaction of $1,278,965.00. Following the sale, the insider now directly owns 579,663 shares of the company’s stock, valued at $13,274,282.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John T. Marsh sold 11,100 shares of Hanesbrands stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $22.57, for a total value of $250,527.00. The disclosure for this sale can be found here. Insiders sold 130,329 shares of company stock worth $3,016,617 in the last quarter. 1.10% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC raised its stake in shares of Hanesbrands by 25.0% in the first quarter. Lazard Asset Management LLC now owns 5,000 shares of the textile maker’s stock valued at $103,000 after buying an additional 1,000 shares in the last quarter. QS Investors LLC increased its position in shares of Hanesbrands by 2.8% in the second quarter. QS Investors LLC now owns 5,100 shares of the textile maker’s stock valued at $118,000 after buying an additional 140 shares in the last quarter. Carroll Financial Associates Inc. increased its stake in Hanesbrands by 24.4% in the first quarter. Carroll Financial Associates Inc. now owns 5,997 shares of the textile maker’s stock worth $124,000 after buying an additional 1,177 shares during the period. Van ECK Associates Corp increased its stake in Hanesbrands by 7.4% in the first quarter. Van ECK Associates Corp now owns 5,995 shares of the textile maker’s stock worth $124,000 after buying an additional 415 shares during the period. Finally, Washington Trust Bank increased its stake in Hanesbrands by 50.0% in the second quarter. Washington Trust Bank now owns 6,000 shares of the textile maker’s stock worth $139,000 after buying an additional 2,000 shares during the period. 94.54% of the stock is owned by hedge funds and other institutional investors.
Hanesbrands Company Profile
Hanesbrands Inc is a marketer of basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia/Pacific under apparel brands, such as Hanes, Champion, Maidenform, DIM, Bali, Playtex, Bonds, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Gear for Sports and Berlei.
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