Hanesbrands (HBI) Now Covered by Bank of America

Bank of America started coverage on shares of Hanesbrands (NYSE:HBI) in a research report issued on Friday, Marketbeat.com reports. The firm set a “neutral” rating and a $21.00 price target on the textile maker’s stock. Bank of America’s price objective suggests a potential upside of 11.23% from the stock’s previous close.

Several other research firms have also recently commented on HBI. Credit Suisse Group started coverage on shares of Hanesbrands in a report on Monday, March 12th. They set a “neutral” rating and a $21.00 price target on the stock. B. Riley lowered their price target on shares of Hanesbrands from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Citigroup restated a “neutral” rating and set a $23.00 price target on shares of Hanesbrands in a report on Tuesday, December 19th. DA Davidson set a $27.00 price target on shares of Hanesbrands and gave the company a “buy” rating in a report on Friday, February 9th. Finally, Macquarie started coverage on shares of Hanesbrands in a report on Monday, April 2nd. They set a “neutral” rating and a $19.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $24.87.

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Hanesbrands stock opened at $18.88 on Friday. The company has a debt-to-equity ratio of 5.40, a quick ratio of 0.85 and a current ratio of 1.90. Hanesbrands has a 12 month low of $17.94 and a 12 month high of $25.73. The firm has a market cap of $6,801.39, a PE ratio of 9.78, a P/E/G ratio of 1.19 and a beta of 0.73.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Thursday, February 8th. The textile maker reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. Hanesbrands had a net margin of 0.96% and a return on equity of 72.30%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the previous year, the company posted $0.53 EPS. Hanesbrands’s revenue was up 4.4% on a year-over-year basis. equities analysts expect that Hanesbrands will post 1.76 earnings per share for the current fiscal year.

In related news, insider W Howard Upchurch, Jr. sold 51,743 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $20.70, for a total value of $1,071,080.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.06% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in HBI. Amundi Pioneer Asset Management Inc. acquired a new position in Hanesbrands during the 4th quarter worth $99,475,000. Bank of New York Mellon Corp lifted its position in Hanesbrands by 69.1% during the 4th quarter. Bank of New York Mellon Corp now owns 7,843,724 shares of the textile maker’s stock worth $164,012,000 after acquiring an additional 3,205,719 shares during the last quarter. ArrowMark Colorado Holdings LLC acquired a new position in Hanesbrands during the 4th quarter worth $65,468,000. Millennium Management LLC lifted its position in Hanesbrands by 29,067.1% during the 4th quarter. Millennium Management LLC now owns 2,845,250 shares of the textile maker’s stock worth $59,494,000 after acquiring an additional 2,835,495 shares during the last quarter. Finally, River Road Asset Management LLC acquired a new position in Hanesbrands during the 4th quarter worth $39,069,000. 99.97% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Hanesbrands (NYSE:HBI)

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