Barclays Forecasts Strong Price Appreciation for Hanesbrands (NYSE:HBI) Stock

Hanesbrands (NYSE:HBI) had its target price lifted by Barclays from $6.00 to $7.00 in a research report sent to investors on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the textile maker’s stock.

A number of other brokerages have also weighed in on HBI. UBS Group raised their price objective on Hanesbrands from $5.00 to $6.50 and gave the company a “neutral” rating in a report on Tuesday, August 27th. Stifel Nicolaus raised their price objective on Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a report on Monday, August 12th. Six investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.00.

Hanesbrands Trading Down 1.0 %

Shares of NYSE:HBI opened at $7.90 on Monday. Hanesbrands has a 1 year low of $3.58 and a 1 year high of $8.70. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of -11.97 and a beta of 1.58. The company has a debt-to-equity ratio of 21.50, a current ratio of 1.49 and a quick ratio of 0.90. The business’s 50 day moving average price is $7.10 and its 200-day moving average price is $5.94.

Hanesbrands (NYSE:HBI) last announced its earnings results on Thursday, November 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. Hanesbrands had a positive return on equity of 44.72% and a negative net margin of 5.24%. The firm had revenue of $937.10 million for the quarter, compared to analyst estimates of $936.47 million. During the same quarter last year, the firm posted $0.10 EPS. The business’s revenue was down 2.5% on a year-over-year basis. On average, equities research analysts forecast that Hanesbrands will post 0.39 earnings per share for the current fiscal year.

Institutional Trading of Hanesbrands

A number of hedge funds and other institutional investors have recently modified their holdings of HBI. Norden Group LLC acquired a new stake in shares of Hanesbrands during the 1st quarter worth about $60,000. Texas Permanent School Fund Corp grew its position in Hanesbrands by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 305,529 shares of the textile maker’s stock valued at $1,772,000 after acquiring an additional 4,325 shares in the last quarter. Quantbot Technologies LP acquired a new position in Hanesbrands in the 1st quarter valued at about $633,000. Inspire Advisors LLC grew its position in Hanesbrands by 8.6% in the 1st quarter. Inspire Advisors LLC now owns 44,447 shares of the textile maker’s stock valued at $258,000 after acquiring an additional 3,511 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its position in Hanesbrands by 13.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 25,432 shares of the textile maker’s stock valued at $148,000 after acquiring an additional 3,043 shares in the last quarter. 80.31% of the stock is owned by institutional investors and hedge funds.

About Hanesbrands

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.