Zacks Investment Research upgraded shares of Hanesbrands Inc. (NYSE:HBI) from a hold rating to a buy rating in a research report released on Tuesday. Zacks Investment Research currently has $27.00 target price on the textile maker’s stock.
According to Zacks, “Hanesbrands’ second-quarter 2017 sales and earnings came in line with the Zacks Consensus Estimate and increased year-over-year, driven by acquisitions and sales from online channel. The benefits from acquisitions were mainly related to Champion Europe and Hanes Australasia. Though organic sales declined in the quarter, it improved sequentially. In fact, the company expects organic sales to turn positive and contribute to growth in the second half. The company’s Project Booster program is also expected to minimize costs and increase cash flow, thus driving growth. Such factors have aided Hanesbrands’ shares to outperform the industry over the past six months. Nevertheless, the company’s performance is exposed to certain headwinds such as over reliance on premium brands, soft sales in the brick-and-mortar stores as well as unfavorable foreign currency translations.”
Other research analysts have also issued reports about the stock. Vetr lowered shares of Hanesbrands from a strong-buy rating to a buy rating and set a $23.91 target price on the stock. in a report on Wednesday, April 19th. FBR & Co restated a buy rating on shares of Hanesbrands in a report on Saturday, April 15th. Oppenheimer Holdings, Inc. set a $32.00 target price on shares of Hanesbrands and gave the company a buy rating in a report on Wednesday, April 12th. BidaskClub upgraded shares of Hanesbrands from a hold rating to a buy rating in a report on Thursday, June 15th. Finally, Credit Suisse Group set a $28.00 target price on shares of Hanesbrands and gave the company a buy rating in a report on Thursday, July 27th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $27.57.
Hanesbrands (NYSE:HBI) traded up 0.55% during midday trading on Tuesday, reaching $23.93. 3,757,495 shares of the company traded hands. Hanesbrands has a 12 month low of $18.91 and a 12 month high of $28.24. The company’s 50-day moving average price is $23.27 and its 200 day moving average price is $21.71. The firm has a market capitalization of $8.72 billion, a PE ratio of 15.68 and a beta of 0.73.
Hanesbrands (NYSE:HBI) last released its earnings results on Tuesday, August 1st. The textile maker reported $0.53 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.53. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. Hanesbrands had a net margin of 10.46% and a return on equity of 67.82%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 EPS. On average, equities analysts anticipate that Hanesbrands will post $1.99 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 2.51%. Hanesbrands’s payout ratio is currently 39.47%.
In related news, CEO Gerald Evans sold 43,379 shares of the stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $23.18, for a total transaction of $1,005,525.22. Following the completion of the sale, the chief executive officer now owns 1,056,314 shares of the company’s stock, valued at approximately $24,485,358.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John T. Marsh sold 11,100 shares of the stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $22.57, for a total transaction of $250,527.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 130,329 shares of company stock worth $3,016,617. Insiders own 1.10% of the company’s stock.
A number of hedge funds have recently bought and sold shares of HBI. Strs Ohio increased its stake in Hanesbrands by 0.7% in the first quarter. Strs Ohio now owns 482,948 shares of the textile maker’s stock worth $10,026,000 after buying an additional 3,571 shares during the period. Vanguard Group Inc. increased its stake in Hanesbrands by 6.2% in the first quarter. Vanguard Group Inc. now owns 36,962,193 shares of the textile maker’s stock worth $767,336,000 after buying an additional 2,158,679 shares during the period. M. Kraus & Co acquired a new stake in Hanesbrands during the first quarter worth about $2,537,000. Farmers & Merchants Investments Inc. increased its stake in Hanesbrands by 104.5% in the first quarter. Farmers & Merchants Investments Inc. now owns 177,162 shares of the textile maker’s stock worth $3,678,000 after buying an additional 90,511 shares during the period. Finally, Park Avenue Institutional Advisers LLC acquired a new stake in Hanesbrands during the first quarter worth about $534,000. 93.68% of the stock is owned by hedge funds and other institutional investors.
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.
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