Hanesbrands (NYSE:HBI) Given New $6.00 Price Target at Barclays

Hanesbrands (NYSE:HBI) had its price target lifted by equities research analysts at Barclays from $5.00 to $6.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the textile maker’s stock. Barclays‘s target price points to a potential upside of 12.36% from the company’s current price.

Other equities analysts have also issued reports about the stock. Stifel Nicolaus lowered their target price on shares of Hanesbrands from $7.00 to $5.00 and set a “hold” rating for the company in a report on Thursday, April 10th. Wells Fargo & Company boosted their target price on Hanesbrands from $3.00 to $4.00 and gave the stock an “underweight” rating in a report on Wednesday, May 14th. Finally, UBS Group raised their price target on Hanesbrands from $7.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $5.60.

Hanesbrands Price Performance

Shares of NYSE:HBI opened at $5.34 on Tuesday. The company has a debt-to-equity ratio of 64.28, a quick ratio of 0.68 and a current ratio of 1.37. Hanesbrands has a 52-week low of $4.02 and a 52-week high of $9.10. The firm has a market capitalization of $1.89 billion, a P/E ratio of -5.80 and a beta of 1.50. The stock has a 50 day moving average price of $5.10 and a 200-day moving average price of $6.84.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Thursday, May 8th. The textile maker reported $0.07 EPS for the quarter, beating the consensus estimate of $0.03 by $0.04. The business had revenue of $760.15 million during the quarter, compared to analyst estimates of $757.42 million. Hanesbrands had a positive return on equity of 108.01% and a negative net margin of 8.06%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.02) earnings per share. As a group, equities research analysts anticipate that Hanesbrands will post 0.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Hanesbrands

Hedge funds have recently added to or reduced their stakes in the company. GeoWealth Management LLC increased its holdings in shares of Hanesbrands by 2,278.8% in the 4th quarter. GeoWealth Management LLC now owns 3,473 shares of the textile maker’s stock worth $28,000 after purchasing an additional 3,327 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Hanesbrands by 122.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,920 shares of the textile maker’s stock valued at $40,000 after buying an additional 2,712 shares during the last quarter. Transce3nd LLC bought a new stake in Hanesbrands in the 4th quarter worth about $45,000. WFA Asset Management Corp purchased a new position in Hanesbrands in the 4th quarter worth about $46,000. Finally, CX Institutional bought a new position in Hanesbrands during the 1st quarter valued at about $34,000. 80.31% of the stock is currently 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 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.