Hanesbrands (NYSE:HBI) Price Target Increased to $5.00 by Analysts at Wedbush

Hanesbrands (NYSE:HBIGet Free Report) had its price objective upped by equities research analysts at Wedbush from $4.50 to $5.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the textile maker’s stock. Wedbush’s price target would suggest a potential downside of 2.72% from the company’s current price.

HBI has been the topic of a number of other research reports. Stifel Nicolaus dropped their price objective on shares of Hanesbrands from $5.00 to $4.50 and set a “hold” rating on the stock in a research note on Thursday, December 14th. Citigroup decreased their price target 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. Four investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $4.75.

View Our Latest Stock Analysis on Hanesbrands

Hanesbrands Price Performance

Shares of NYSE HBI opened at $5.14 on Wednesday. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of -102.38 and a beta of 1.58. Hanesbrands has a 52 week low of $3.54 and a 52 week high of $5.86. The company’s 50-day moving average price is $5.02 and its 200 day moving average price is $4.42. The company has a current ratio of 1.64, a quick ratio of 0.65 and a debt-to-equity ratio of 7.72.

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

Institutional Investors Weigh In On Hanesbrands

A number of hedge funds have recently added to or reduced their stakes in HBI. BlackRock Inc. lifted its stake in Hanesbrands by 16.6% in the first quarter. BlackRock Inc. now owns 46,483,518 shares of the textile maker’s stock valued at $244,503,000 after buying an additional 6,630,208 shares during the last quarter. Loews Corp raised its stake in shares of Hanesbrands by 54.2% during the fourth quarter. Loews Corp now owns 16,500,000 shares of the textile maker’s stock valued at $73,590,000 after purchasing an additional 5,800,000 shares in the last quarter. Millennium Management LLC raised its stake in shares of Hanesbrands by 991.4% during the fourth quarter. Millennium Management LLC now owns 3,896,974 shares of the textile maker’s stock valued at $24,785,000 after purchasing an additional 3,539,911 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Hanesbrands during the first quarter valued at about $14,888,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Hanesbrands by 2,900.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,354,491 shares of the textile maker’s stock valued at $14,975,000 after purchasing an additional 2,276,017 shares in the last quarter. 80.31% of the stock is currently owned by institutional investors.

About Hanesbrands

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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.

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