UBS AG reissued their buy rating on shares of Hanesbrands Inc. (NYSE:HBI) in a research report released on Wednesday, 99wallstreet.com reports. They currently have a $27.00 price target on the textile maker’s stock, up from their previous price target of $25.00.
Several other research analysts have also recently issued reports on HBI. DA Davidson set a $27.00 price objective on shares of Hanesbrands and gave the company a buy rating in a report on Saturday, April 8th. Oppenheimer Holdings, Inc. set a $32.00 price objective on shares of Hanesbrands and gave the company a buy rating in a report on Wednesday, April 12th. FBR & Co reiterated a buy rating on shares of Hanesbrands in a report on Saturday, April 15th. Zacks Investment Research upgraded shares of Hanesbrands from a sell rating to a hold rating in a report on Tuesday, April 18th. Finally, Vetr cut shares of Hanesbrands from a strong-buy rating to a buy rating and set a $23.91 price objective for the company. in a report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. Hanesbrands presently has an average rating of Buy and a consensus target price of $27.72.
Shares of Hanesbrands (HBI) traded up 1.89% during midday trading on Wednesday, hitting $24.29. The stock had a trading volume of 6,537,460 shares. The firm has a 50 day moving average of $22.90 and a 200-day moving average of $21.59. Hanesbrands has a one year low of $18.91 and a one year high of $28.24. The company has a market cap of $8.89 billion, a P/E ratio of 15.92 and a beta of 0.73.
Hanesbrands (NYSE:HBI) last posted its quarterly earnings data on Tuesday, August 1st. The textile maker reported $0.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.53. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Hanesbrands had a net margin of 9.02% and a return on equity of 64.80%. The business’s revenue was up 11.8% on a year-over-year basis. During the same period last year, the firm posted $0.51 earnings per share. On average, analysts forecast that Hanesbrands will post $1.99 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Tuesday, August 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Friday, August 11th. Hanesbrands’s dividend payout ratio is 39.47%.
In other Hanesbrands news, CEO Gerald Evans sold 43,379 shares of the stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $23.18, for a total value of $1,005,525.22. Following the completion of the sale, the chief executive officer now owns 1,056,314 shares in the company, valued at approximately $24,485,358.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John T. Marsh sold 11,100 shares of the stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $22.57, for a total transaction of $250,527.00. The disclosure for this sale can be found here. Insiders sold a total of 152,438 shares of company stock valued at $3,450,467 in the last ninety days. Company insiders own 1.10% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC increased its stake in Hanesbrands by 25.0% in the first quarter. Lazard Asset Management LLC now owns 5,000 shares of the textile maker’s stock worth $103,000 after buying an additional 1,000 shares during 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 last quarter. 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 last quarter. 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 last quarter. Finally, SRS Capital Advisors Inc. increased its stake in Hanesbrands by 11.6% in the first quarter. SRS Capital Advisors Inc. now owns 6,812 shares of the textile maker’s stock worth $141,000 after buying an additional 708 shares during the last quarter. Institutional investors own 92.18% of the company’s stock.
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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