HanesBrands Inc. (HBI) Earns “Buy” Rating from Credit Suisse Group AG
HanesBrands Inc. (NYSE:HBI)‘s stock had its “buy” rating reissued by stock analysts at Credit Suisse Group AG in a research note issued on Wednesday. They currently have a $37.00 price target on the stock. Credit Suisse Group AG’s price objective suggests a potential upside of 42.42% from the stock’s previous close.
Other analysts also recently issued reports about the stock. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $35.00 price objective on shares of HanesBrands in a report on Tuesday, August 2nd. FBR & Co reaffirmed an “outperform” rating and set a $39.00 price objective on shares of HanesBrands in a report on Thursday, July 7th. Zacks Investment Research raised shares of HanesBrands from a “sell” rating to a “hold” rating in a report on Tuesday, August 23rd. Brean Capital reaffirmed a “buy” rating and set a $37.00 price objective on shares of HanesBrands in a report on Tuesday, June 14th. Finally, Morgan Stanley reaffirmed a “buy” rating on shares of HanesBrands in a report on Wednesday, June 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $34.14.
Shares of HanesBrands (NYSE:HBI) opened at 25.98 on Wednesday. The company has a market cap of $9.82 billion, a PE ratio of 20.85 and a beta of 1.02. The firm’s 50-day moving average is $26.65 and its 200-day moving average is $27.30. HanesBrands has a 12 month low of $23.25 and a 12 month high of $33.24.
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HanesBrands (NYSE:HBI) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.01. HanesBrands had a net margin of 8.60% and a return on equity of 59.48%. The firm earned $1.47 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the business earned $0.50 earnings per share. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, equities research analysts predict that HanesBrands will post $1.92 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 7th. Stockholders of record on Tuesday, August 16th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Friday, August 12th. HanesBrands’s payout ratio is 35.20%.
In related news, CEO Richard A. Noll bought 20,000 shares of the business’s stock in a transaction dated Tuesday, August 9th. The shares were purchased at an average price of $25.74 per share, with a total value of $514,800.00. Following the purchase, the chief executive officer now owns 870,077 shares of the company’s stock, valued at approximately $22,395,781.98. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.00% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. raised its stake in shares of HanesBrands by 402.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 4,946,854 shares of the company’s stock worth $140,194,000 after buying an additional 3,962,084 shares during the last quarter. Norges Bank bought a new stake in shares of HanesBrands during the fourth quarter worth $91,162,000. Columbia Wanger Asset Management LLC bought a new stake in shares of HanesBrands during the second quarter worth $59,627,000. Meritage Group LP raised its stake in shares of HanesBrands by 112.9% in the second quarter. Meritage Group LP now owns 3,673,626 shares of the company’s stock worth $92,318,000 after buying an additional 1,948,446 shares during the last quarter. Finally, RidgeWorth Capital Management LLC raised its stake in shares of HanesBrands by 170.5% in the second quarter. RidgeWorth Capital Management LLC now owns 2,887,677 shares of the company’s stock worth $73,924,000 after buying an additional 1,820,170 shares during the last quarter. 91.61% of the stock is currently owned by hedge funds and other institutional investors.
Hanesbrands Inc is a manufacturer and marketer of apparels. The Company operates through four segments: Innerwear, Activewear, Direct to Consumer and International. The Company’s portfolio of brands includes Hanes, Champion, Maidenform, DIM, Playtex, Bali, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Lilyette and Gear for Sports.
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