Hanesbrands (HBI) Cut to Hold at Deutsche Bank

Deutsche Bank lowered shares of Hanesbrands (NYSE:HBI) from a buy rating to a hold rating in a report issued on Friday morning, Marketbeat reports. Deutsche Bank currently has $16.00 target price on the textile maker’s stock, down from their prior target price of $24.00.

A number of other research firms have also commented on HBI. Buckingham Research cut their price target on Hanesbrands from $26.00 to $24.00 and set a buy rating for the company in a report on Wednesday, October 17th. Zacks Investment Research raised Hanesbrands from a sell rating to a hold rating in a report on Tuesday, October 23rd. Standpoint Research began coverage on Hanesbrands in a report on Tuesday, October 23rd. They issued a buy rating and a $20.00 price target for the company. Barclays set a $18.00 price target on Hanesbrands and gave the stock a hold rating in a report on Thursday, November 1st. Finally, Citigroup lifted their price objective on Hanesbrands from $17.00 to $18.00 and gave the company a neutral rating in a research note on Monday, December 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. Hanesbrands currently has an average rating of Hold and an average target price of $20.47.

Hanesbrands stock opened at $13.70 on Friday. Hanesbrands has a one year low of $11.57 and a one year high of $23.33. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.84 and a quick ratio of 0.79. The firm has a market capitalization of $4.99 billion, a PE ratio of 7.10, a P/E/G ratio of 0.75 and a beta of 0.66.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Thursday, November 1st. The textile maker reported $0.55 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.55. Hanesbrands had a return on equity of 85.49% and a net margin of 0.10%. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period last year, the company earned $0.60 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Analysts anticipate that Hanesbrands will post 1.73 EPS for the current fiscal year.

In other news, Director Ronald L. Nelson purchased 25,000 shares of the company’s stock in a transaction on Friday, November 2nd. The stock was purchased at an average price of $15.95 per share, with a total value of $398,750.00. Following the completion of the purchase, the director now directly owns 131,683 shares in the company, valued at approximately $2,100,343.85. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider W Howard Upchurch, Jr. sold 40,688 shares of Hanesbrands stock in a transaction dated Wednesday, December 12th. The stock was sold at an average price of $14.81, for a total value of $602,589.28. Following the sale, the insider now directly owns 453,282 shares of the company’s stock, valued at approximately $6,713,106.42. The disclosure for this sale can be found here. In the last three months, insiders have purchased 61,600 shares of company stock valued at $940,079 and have sold 77,803 shares valued at $1,171,521. 1.06% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Global Trust Asset Management LLC lifted its stake in Hanesbrands by 19.5% during the fourth quarter. Global Trust Asset Management LLC now owns 12,457 shares of the textile maker’s stock worth $156,000 after purchasing an additional 2,030 shares during the last quarter. Ridgewood Investments LLC lifted its stake in Hanesbrands by 22.6% during the third quarter. Ridgewood Investments LLC now owns 18,157 shares of the textile maker’s stock worth $335,000 after purchasing an additional 3,351 shares during the last quarter. Arnhold LLC lifted its stake in Hanesbrands by 1.1% during the third quarter. Arnhold LLC now owns 339,829 shares of the textile maker’s stock worth $6,263,000 after purchasing an additional 3,829 shares during the last quarter. Northwest Investment Counselors LLC lifted its stake in Hanesbrands by 4.8% during the third quarter. Northwest Investment Counselors LLC now owns 86,103 shares of the textile maker’s stock worth $1,587,000 after purchasing an additional 3,934 shares during the last quarter. Finally, Robecosam AG lifted its stake in Hanesbrands by 4.0% during the third quarter. Robecosam AG now owns 104,020 shares of the textile maker’s stock worth $1,886,000 after purchasing an additional 4,000 shares during the last quarter. 99.55% of the stock is owned by hedge funds and other institutional investors.

Hanesbrands Company Profile

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children in the United States. The company operates through three segments: Innerwear, Activewear, and International. It sells bras, panties, men's underwear, children's underwear, activewear, socks, hosiery, intimate apparel, shapewears, and home goods; and T-shirts, fleece, sport shirts, performance T-shirts and shorts, sports bras, and thermals, as well as licensed logo apparel in collegiate bookstores, mass retailers, and other channels.

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Analyst Recommendations for Hanesbrands (NYSE:HBI)

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