Hanesbrands Inc. (NYSE:HBI) Given Consensus Rating of “Hold” by Brokerages

Hanesbrands Inc. (NYSE:HBI) has received an average rating of “Hold” from the six brokerages that are covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $6.60.

A number of brokerages have commented on HBI. Citigroup increased their target price on Hanesbrands from $5.50 to $7.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Hanesbrands in a research note on Wednesday, October 8th.

Institutional Investors Weigh In On Hanesbrands

Hedge funds have recently modified their holdings of the business. Royal Bank of Canada grew its stake in Hanesbrands by 68.7% during the 1st quarter. Royal Bank of Canada now owns 428,212 shares of the textile maker’s stock valued at $2,471,000 after acquiring an additional 174,439 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Hanesbrands by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 210,256 shares of the textile maker’s stock worth $1,213,000 after purchasing an additional 9,147 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Hanesbrands by 11.6% during the 1st quarter. Millennium Management LLC now owns 3,117,512 shares of the textile maker’s stock worth $17,988,000 after purchasing an additional 324,054 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of Hanesbrands by 6.2% in the first quarter. NewEdge Advisors LLC now owns 49,719 shares of the textile maker’s stock valued at $287,000 after purchasing an additional 2,913 shares in the last quarter. Finally, United Services Automobile Association purchased a new stake in shares of Hanesbrands in the first quarter valued at approximately $132,000. 80.31% of the stock is currently owned by institutional investors and hedge funds.

Hanesbrands Stock Performance

HBI opened at $6.65 on Friday. The firm’s fifty day simple moving average is $6.60 and its two-hundred day simple moving average is $6.09. Hanesbrands has a 52-week low of $3.96 and a 52-week high of $8.98. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 7.23 and a beta of 1.50. The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 4.94.

Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Thursday, November 6th. The textile maker reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.01). The company had revenue of $891.68 million for the quarter, compared to analyst estimates of $905.37 million. Hanesbrands had a return on equity of 129.43% and a net margin of 9.34%.The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the company earned $0.15 EPS. Equities analysts anticipate that Hanesbrands will post 0.53 earnings per share for the current fiscal year.

Hanesbrands Company Profile

Hanesbrands Inc is a leading global apparel company specializing in everyday basics and activewear. The company’s product portfolio encompasses underwear, bras, socks, hosiery, T-shirts, and performance apparel under well-known brands such as Hanes, Champion, Playtex, DIM, Maidenform, and Bonds. Through a combination of trusted brand equity and a focus on comfort, fit, and quality, Hanesbrands serves a broad consumer base across multiple demographic segments.

Established in 2006 following its spin-off from the Sara Lee Corporation, Hanesbrands has grown through strategic acquisitions and organic expansion.