Hanesbrands (NYSE:HBI) PT Raised to $6.50 at UBS Group

Hanesbrands (NYSE:HBI) had its target price hoisted by stock analysts at UBS Group from $5.00 to $6.50 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the textile maker’s stock. UBS Group’s price target would suggest a potential upside of 3.42% from the stock’s current price.

Other analysts have also issued research reports about the company. Wedbush reiterated a “neutral” rating and issued a $5.00 target price on shares of Hanesbrands in a research note on Thursday, June 6th. Stifel Nicolaus raised their price target on shares of Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Finally, Barclays boosted their price objective on shares of Hanesbrands from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Six investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $5.80.

Hanesbrands Price Performance

Hanesbrands stock opened at $6.29 on Tuesday. Hanesbrands has a 12-month low of $3.54 and a 12-month high of $6.77. The company has a current ratio of 1.59, a quick ratio of 0.62 and a debt-to-equity ratio of 9.57. The firm has a 50-day moving average price of $5.52 and a 200-day moving average price of $5.18. The firm has a market capitalization of $2.21 billion, a PE ratio of -104.75 and a beta of 1.59.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Thursday, August 8th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.05. The business had revenue of $995.40 million during the quarter, compared to the consensus estimate of $1.35 billion. Hanesbrands had a negative net margin of 0.42% and a positive return on equity of 9.84%. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.01) earnings per share. As a group, equities research analysts forecast that Hanesbrands will post 0.46 EPS for the current year.

Institutional Trading of Hanesbrands

Several institutional investors and hedge funds have recently made changes to their positions in HBI. Concord Wealth Partners grew its holdings in Hanesbrands by 220.3% during the 1st quarter. Concord Wealth Partners now owns 5,260 shares of the textile maker’s stock worth $31,000 after acquiring an additional 3,618 shares in the last quarter. Tradewinds Capital Management LLC purchased a new stake in shares of Hanesbrands in the 1st quarter worth approximately $35,000. Rothschild Investment LLC bought a new position in shares of Hanesbrands during the second quarter valued at approximately $39,000. Hollencrest Capital Management purchased a new position in Hanesbrands during the first quarter valued at approximately $41,000. Finally, Future Financial Wealth Managment LLC bought a new position in Hanesbrands in the first quarter worth approximately $44,000. 80.31% of the stock is currently owned by institutional investors.

Hanesbrands Company Profile

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.