Hanesbrands (HBI) Downgraded to “Hold” at ValuEngine

Hanesbrands (NYSE:HBI) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a report issued on Sunday, December 31st.

A number of other equities research analysts have also recently issued reports on the company. Zacks Investment Research cut Hanesbrands from a “hold” rating to a “sell” rating in a research report on Tuesday, December 19th. Citigroup reissued a “neutral” rating and issued a $23.00 price objective on shares of Hanesbrands in a research report on Tuesday, December 19th. B. Riley reissued a “buy” rating on shares of Hanesbrands in a research report on Thursday, November 2nd. Stifel Nicolaus reissued a “hold” rating and issued a $23.00 price objective on shares of Hanesbrands in a research report on Friday, November 3rd. Finally, Barclays reduced their price objective on Hanesbrands from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $25.63.

Hanesbrands (HBI) opened at $22.00 on Friday. The company has a market capitalization of $8,020.00, a P/E ratio of 13.58, a P/E/G ratio of 1.18 and a beta of 0.72. The company has a quick ratio of 0.85, a current ratio of 1.88 and a debt-to-equity ratio of 2.90. Hanesbrands has a twelve month low of $18.90 and a twelve month high of $25.73.

Hanesbrands (NYSE:HBI) last announced its earnings results on Wednesday, November 1st. The textile maker reported $0.60 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.60. The firm had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Hanesbrands had a return on equity of 64.73% and a net margin of 9.43%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.56 earnings per share. analysts expect that Hanesbrands will post 1.94 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in HBI. Check Capital Management Inc. CA boosted its holdings in Hanesbrands by 100.0% in the third quarter. Check Capital Management Inc. CA now owns 4,413,635 shares of the textile maker’s stock valued at $108,752,000 after acquiring an additional 2,207,066 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Hanesbrands by 33.3% in the third quarter. Bank of New York Mellon Corp now owns 4,638,005 shares of the textile maker’s stock valued at $114,282,000 after acquiring an additional 1,159,722 shares during the last quarter. Sabal Trust CO bought a new position in Hanesbrands in the third quarter valued at about $25,479,000. WBI Investments Inc. bought a new position in Hanesbrands in the second quarter valued at about $15,165,000. Finally, Victory Capital Management Inc. boosted its holdings in Hanesbrands by 1,283.2% in the second quarter. Victory Capital Management Inc. now owns 667,842 shares of the textile maker’s stock valued at $15,467,000 after acquiring an additional 619,561 shares during the last quarter. Institutional investors own 96.67% of the company’s stock.

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Hanesbrands Company Profile

Hanesbrands Inc is a marketer of basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia/Pacific under apparel brands, such as Hanes, Champion, Maidenform, DIM, Bali, Playtex, Bonds, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Gear for Sports and Berlei.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Hanesbrands (NYSE:HBI)

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