Cowen and Company cut shares of HanesBrands Inc. (NYSE:HBI) from an outperform rating to a market perform rating in a research note published on Wednesday. Cowen and Company currently has $27.00 price objective on the stock, down from their prior price objective of $33.00.
Other equities research analysts also recently issued reports about the stock. Oppenheimer Holdings Inc. reaffirmed an outperform rating and issued a $35.00 price objective on shares of HanesBrands in a research report on Tuesday, August 2nd. Credit Suisse Group AG reaffirmed a buy rating and issued a $37.00 price objective on shares of HanesBrands in a research report on Wednesday, August 3rd. Brean Capital reissued a buy rating and set a $37.00 target price on shares of HanesBrands in a research report on Tuesday, June 14th. Zacks Investment Research raised shares of HanesBrands from a sell rating to a hold rating in a research report on Tuesday, August 23rd. Finally, FBR & Co reissued an outperform rating and set a $39.00 target price on shares of HanesBrands in a research report on Thursday, July 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. HanesBrands has a consensus rating of Buy and an average target price of $33.79.
HanesBrands (NYSE:HBI) opened at 24.16 on Wednesday. The company has a market capitalization of $9.13 billion, a PE ratio of 19.39 and a beta of 0.94. The company has a 50-day moving average of $25.79 and a 200-day moving average of $26.68. HanesBrands has a 52 week low of $23.25 and a 52 week high of $33.24.
HanesBrands (NYSE:HBI) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.01. HanesBrands had a return on equity of 59.48% and a net margin of 8.60%. The firm earned $1.47 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, equities research analysts anticipate that HanesBrands will post $1.92 EPS for the current year.
In other news, CEO Richard A. Noll bought 20,000 shares of the stock in a transaction on Tuesday, August 9th. The shares were acquired at an average cost of $25.74 per share, for a total transaction of $514,800.00. Following the purchase, the chief executive officer now directly owns 870,077 shares of the company’s stock, valued at approximately $22,395,781.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of HBI. Geode Capital Management LLC boosted its stake in HanesBrands by 1.3% in the first quarter. Geode Capital Management LLC now owns 3,101,474 shares of the company’s stock valued at $87,713,000 after buying an additional 41,096 shares during the period. UBS Asset Management Americas Inc. boosted its stake in HanesBrands by 0.4% in the first quarter. UBS Asset Management Americas Inc. now owns 916,998 shares of the company’s stock valued at $25,988,000 after buying an additional 3,394 shares during the period. UBS Group AG boosted its stake in HanesBrands by 12.7% in the first quarter. UBS Group AG now owns 1,305,887 shares of the company’s stock valued at $37,009,000 after buying an additional 147,256 shares during the period. Cupps Capital Management LLC bought a new stake in HanesBrands during the first quarter valued at $904,000. Finally, Canada Pension Plan Investment Board boosted its stake in HanesBrands by 78.0% in the first quarter. Canada Pension Plan Investment Board now owns 19,400 shares of the company’s stock valued at $550,000 after buying an additional 8,500 shares during the period. Hedge funds and other institutional investors own 91.42% of the company’s stock.
HanesBrands Company Profile
Hanesbrands Inc is a manufacturer and marketer of apparels. The Company operates through four segments: Innerwear, Activewear, Direct to Consumer and International. The Company’s portfolio of brands includes Hanes, Champion, Maidenform, DIM, Playtex, Bali, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Lilyette and Gear for Sports.
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