Hanesbrands (NYSE:HBI) Rating Increased to Buy at UBS Group

UBS Group upgraded shares of Hanesbrands (NYSE:HBI) from a neutral rating to a buy rating in a research report report published on Tuesday morning, Marketbeat Ratings reports. They currently have $11.00 price objective on the textile maker’s stock, up from their prior price objective of $9.00.

Other research analysts have also recently issued research reports about the company. Barclays boosted their price target on Hanesbrands from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Stifel Nicolaus boosted their target price on Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.90.

Hanesbrands Price Performance

HBI opened at $8.70 on Tuesday. The firm has a market cap of $3.07 billion, a PE ratio of -13.18 and a beta of 1.58. The stock has a 50-day moving average price of $7.55 and a 200-day moving average price of $6.25. Hanesbrands has a 1 year low of $3.58 and a 1 year high of $9.10. The company has a debt-to-equity ratio of 21.50, a current ratio of 1.49 and a quick ratio of 0.90.

Hanesbrands (NYSE:HBI) last issued its earnings results on Thursday, November 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. The firm had revenue of $937.10 million for the quarter, compared to the consensus estimate of $936.47 million. Hanesbrands had a negative net margin of 5.24% and a positive return on equity of 44.72%. The business’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 earnings per share. Sell-side analysts predict that Hanesbrands will post 0.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hanesbrands

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Hanesbrands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker’s stock worth $233,542,000 after purchasing an additional 1,362,140 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Hanesbrands by 481.0% during the third quarter. International Assets Investment Management LLC now owns 520,037 shares of the textile maker’s stock valued at $3,822,000 after purchasing an additional 430,534 shares during the period. Brandes Investment Partners LP increased its position in Hanesbrands by 3.9% in the second quarter. Brandes Investment Partners LP now owns 4,834,202 shares of the textile maker’s stock worth $23,761,000 after buying an additional 183,069 shares in the last quarter. Whittier Trust Co. bought a new position in shares of Hanesbrands in the third quarter worth about $51,000. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of Hanesbrands during the 3rd quarter valued at about $785,000. Hedge funds and other institutional investors own 80.31% of the company’s stock.

About Hanesbrands

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.