Hanesbrands (NYSE:HBI) Price Target Raised to $7.00

Hanesbrands (NYSE:HBI) had its price objective boosted by Barclays from $6.00 to $7.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the textile maker’s stock.

Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus upped their price objective on shares of Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a report on Monday, August 12th. UBS Group upped their price objective on shares of Hanesbrands from $5.00 to $6.50 and gave the company a “neutral” rating in a report on Tuesday, August 27th. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.00.

Hanesbrands Stock Performance

HBI stock opened at $7.90 on Monday. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of -11.97 and a beta of 1.58. The firm has a 50-day simple moving average of $7.10 and a two-hundred day simple moving average of $5.94. Hanesbrands has a one year low of $3.58 and a one year high of $8.70. The company has a debt-to-equity ratio of 21.50, a quick ratio of 0.90 and a current ratio of 1.49.

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

Hedge Funds Weigh In On Hanesbrands

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Hanesbrands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker’s stock worth $233,542,000 after buying an additional 1,362,140 shares during the period. Loews Corp grew its stake in shares of Hanesbrands by 108.7% during the 2nd quarter. Loews Corp now owns 29,197,796 shares of the textile maker’s stock worth $143,945,000 after purchasing an additional 15,206,007 shares during the period. Cooke & Bieler LP grew its stake in shares of Hanesbrands by 2.1% during the 2nd quarter. Cooke & Bieler LP now owns 16,329,763 shares of the textile maker’s stock worth $80,506,000 after purchasing an additional 342,056 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Hanesbrands by 18.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,661,235 shares of the textile maker’s stock worth $32,836,000 after purchasing an additional 1,024,308 shares during the period. Finally, Brandes Investment Partners LP grew its stake in shares of Hanesbrands by 3.9% during the 2nd quarter. Brandes Investment Partners LP now owns 4,834,202 shares of the textile maker’s stock worth $23,761,000 after purchasing an additional 183,069 shares during the period. Institutional investors and hedge funds own 80.31% of the company’s stock.

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.