Hanesbrands Inc. (HBI) Lowered to “Hold” at ValuEngine

ValuEngine downgraded shares of Hanesbrands Inc. (NYSE:HBI) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

HBI has been the topic of several other reports. Vetr raised shares of Hanesbrands from a buy rating to a strong-buy rating and set a $25.61 price target on the stock in a report on Thursday, February 2nd. Oppenheimer Holdings Inc. set a $32.00 price target on shares of Hanesbrands and gave the company a buy rating in a report on Thursday, February 2nd. Goldman Sachs Group Inc started coverage on shares of Hanesbrands in a report on Tuesday, March 28th. They issued a neutral rating and a $20.00 price target on the stock. Zacks Investment Research raised shares of Hanesbrands from a sell rating to a hold rating in a report on Tuesday, April 18th. Finally, Morgan Stanley cut shares of Hanesbrands from an overweight rating to an equal weight rating in a report on Monday, February 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $28.08.

Analyst Recommendations for Hanesbrands (NYSE:HBI)

Hanesbrands (HBI) traded down 0.09% on Friday, hitting $21.29. 2,593,402 shares of the company were exchanged. The stock has a market cap of $7.75 billion, a PE ratio of 15.37 and a beta of 0.90. The firm has a 50 day moving average of $21.34 and a 200-day moving average of $21.64. Hanesbrands has a 52-week low of $18.91 and a 52-week high of $28.24.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Tuesday, May 2nd. The textile maker reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Hanesbrands had a net margin of 8.95% and a return on equity of 64.51%. On average, equities analysts expect that Hanesbrands will post $1.98 earnings per share for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 16th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, May 12th. This represents a $0.60 annualized dividend and a yield of 2.82%. Hanesbrands’s payout ratio is 42.55%.

In other Hanesbrands news, Director Ronald L. Nelson bought 5,000 shares of the stock in a transaction on Friday, March 10th. The stock was purchased at an average price of $19.92 per share, for a total transaction of $99,600.00. Following the completion of the purchase, the director now directly owns 105,652 shares in the company, valued at $2,104,587.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gerald Evans sold 42,109 shares of the business’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $21.74, for a total transaction of $915,449.66. Following the sale, the chief executive officer now owns 1,061,098 shares of the company’s stock, valued at approximately $23,068,270.52. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Jacobi Capital Management LLC raised its stake in Hanesbrands by 126.7% in the first quarter. Jacobi Capital Management LLC now owns 14,135 shares of the textile maker’s stock valued at $288,000 after buying an additional 7,900 shares during the last quarter. Achmea Investment Management B.V. acquired a new stake in Hanesbrands during the first quarter valued at $586,000. Community Financial Services Group LLC acquired a new stake in Hanesbrands during the first quarter valued at $2,971,000. Lapides Asset Management LLC raised its position in Hanesbrands by 40.4% in the first quarter. Lapides Asset Management LLC now owns 154,900 shares of the textile maker’s stock valued at $3,216,000 after buying an additional 44,600 shares in the last quarter. Finally, North Star Asset Management Inc. raised its position in Hanesbrands by 50.0% in the first quarter. North Star Asset Management Inc. now owns 376,695 shares of the textile maker’s stock valued at $7,820,000 after buying an additional 125,563 shares in the last quarter. Hedge funds and other institutional investors own 96.30% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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