Hanesbrands (NYSE:HBI) Upgraded by ValuEngine to “Sell”

Hanesbrands (NYSE:HBI) was upgraded by equities researchers at ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, ValuEngine reports.

Other equities analysts also recently issued research reports about the stock. UBS Group cut their price objective on shares of Hanesbrands from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. B. Riley restated a “buy” rating and set a $26.00 price objective on shares of Hanesbrands in a report on Monday, November 25th. Barclays started coverage on shares of Hanesbrands in a report on Tuesday, November 12th. They set an “equal weight” rating and a $16.00 price objective on the stock. Finally, Goldman Sachs Group set a $15.00 price objective on shares of Hanesbrands and gave the company a “hold” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. Hanesbrands currently has a consensus rating of “Hold” and a consensus target price of $16.88.

Shares of Hanesbrands stock opened at $15.19 on Tuesday. The company has a market capitalization of $5.45 billion, a PE ratio of 8.88, a P/E/G ratio of 2.13 and a beta of 1.14. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.72 and a current ratio of 1.73. The company has a 50-day simple moving average of $15.48 and a two-hundred day simple moving average of $15.53. Hanesbrands has a one year low of $11.57 and a one year high of $19.38.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings data on Thursday, October 31st. The textile maker reported $0.54 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.54. Hanesbrands had a net margin of 8.35% and a return on equity of 57.95%. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities analysts predict that Hanesbrands will post 1.77 earnings per share for the current fiscal year.

In related news, insider W Howard Upchurch, Jr. sold 93,261 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $16.14, for a total value of $1,505,232.54. Following the transaction, the insider now owns 520,490 shares in the company, valued at approximately $8,400,708.60. The sale was disclosed in a filing with the SEC, which is available through this link. 1.04% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased its holdings in Hanesbrands by 39.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,238,700 shares of the textile maker’s stock worth $21,330,000 after buying an additional 347,900 shares during the period. Coastal Investment Advisors Inc. boosted its position in Hanesbrands by 10,585.9% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 6,839 shares of the textile maker’s stock worth $116,000 after purchasing an additional 6,775 shares in the last quarter. Rhumbline Advisers boosted its position in Hanesbrands by 0.8% in the 3rd quarter. Rhumbline Advisers now owns 587,235 shares of the textile maker’s stock worth $8,996,000 after purchasing an additional 4,416 shares in the last quarter. Legacy Capital Partners Inc. boosted its position in Hanesbrands by 16.6% in the 3rd quarter. Legacy Capital Partners Inc. now owns 12,806 shares of the textile maker’s stock worth $196,000 after purchasing an additional 1,825 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in Hanesbrands by 113.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 499,013 shares of the textile maker’s stock worth $8,593,000 after purchasing an additional 265,516 shares in the last quarter. Institutional investors own 96.10% of the company’s stock.

About Hanesbrands

Hanesbrands, Inc is a consumer goods company, which engages in the design, manufacture, sourcing, and sale of everyday basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia Pacific. It operates through the following three segments: Innerwear, Activewear and International.

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Analyst Recommendations for Hanesbrands (NYSE:HBI)

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