Wedbush Reaffirms “Neutral” Rating for Hanesbrands (NYSE:HBI)

Wedbush reissued their neutral rating on shares of Hanesbrands (NYSE:HBI) in a research report sent to investors on Thursday morning, Benzinga reports. Wedbush currently has a $5.00 price objective on the textile maker’s stock.

Several other research analysts have also recently weighed in on the company. Citigroup boosted their price target on Hanesbrands from $4.50 to $5.50 and gave the stock a neutral rating in a research note on Wednesday, April 3rd. Barclays boosted their target price on Hanesbrands from $4.00 to $5.00 and gave the stock an equal weight rating in a research report on Friday, May 10th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $5.00.

Hanesbrands Price Performance

HBI opened at $5.18 on Thursday. The firm has a market cap of $1.82 billion, a PE ratio of -86.33 and a beta of 1.62. The stock has a 50-day moving average price of $4.89 and a 200-day moving average price of $4.67. Hanesbrands has a 1 year low of $3.54 and a 1 year high of $5.86. The company has a debt-to-equity ratio of 9.57, a current ratio of 1.59 and a quick ratio of 0.62.

Hanesbrands (NYSE:HBI) last issued its earnings results on Thursday, May 9th. The textile maker reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.04. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.19 billion. Hanesbrands had a negative net margin of 0.42% and a positive return on equity of 9.84%. The business’s revenue was down 16.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. Sell-side analysts predict that Hanesbrands will post 0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Evergreen Capital Management LLC boosted its holdings in shares of Hanesbrands by 11.2% in the third quarter. Evergreen Capital Management LLC now owns 25,070 shares of the textile maker’s stock worth $99,000 after buying an additional 2,533 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Hanesbrands by 6.7% in the fourth quarter. Cerity Partners LLC now owns 41,310 shares of the textile maker’s stock worth $184,000 after buying an additional 2,605 shares during the period. Platinum Investment Management Ltd. raised its stake in Hanesbrands by 12.8% during the 4th quarter. Platinum Investment Management Ltd. now owns 24,779 shares of the textile maker’s stock worth $111,000 after acquiring an additional 2,812 shares during the period. Avantax Advisory Services Inc. lifted its holdings in Hanesbrands by 13.6% during the first quarter. Avantax Advisory Services Inc. now owns 25,432 shares of the textile maker’s stock valued at $148,000 after purchasing an additional 3,043 shares in the last quarter. Finally, Independent Advisor Alliance increased its stake in shares of Hanesbrands by 33.4% in the fourth quarter. Independent Advisor Alliance now owns 13,488 shares of the textile maker’s stock worth $60,000 after purchasing an additional 3,378 shares in the last quarter. 80.31% of the stock is owned by hedge funds and other institutional investors.

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.