Hanesbrands (NYSE:HBI) Upgraded at UBS Group

UBS Group upgraded shares of Hanesbrands (NYSE:HBI) from a neutral rating to a buy rating in a research note released on Tuesday, MarketBeat.com reports. UBS Group currently has $11.00 price objective on the textile maker’s stock, up from their previous price objective of $9.00.

A number of other analysts have also recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Barclays upped their price target on shares of Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.90.

Hanesbrands Trading Down 1.1 %

Shares of NYSE:HBI opened at $8.74 on Tuesday. Hanesbrands has a 1 year low of $3.58 and a 1 year high of $9.10. The firm has a fifty day moving average price of $7.48 and a 200 day moving average price of $6.21. The company has a current ratio of 1.49, a quick ratio of 0.90 and a debt-to-equity ratio of 21.50. The stock has a market capitalization of $3.08 billion, a PE ratio of -13.24 and a beta of 1.58.

Hanesbrands (NYSE:HBI) last released its quarterly 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. Hanesbrands had a positive return on equity of 44.72% and a negative net margin of 5.24%. The company had revenue of $937.10 million during the quarter, compared to the consensus estimate of $936.47 million. During the same quarter in the prior year, the company posted $0.10 EPS. The firm’s revenue was down 2.5% on a year-over-year basis. Analysts expect that Hanesbrands will post 0.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Loews Corp grew its position in Hanesbrands by 108.7% during the second quarter. Loews Corp now owns 29,197,796 shares of the textile maker’s stock worth $143,945,000 after buying an additional 15,206,007 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Hanesbrands by 3.5% during 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. Dimensional Fund Advisors LP grew its holdings in shares of Hanesbrands by 18.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,661,235 shares of the textile maker’s stock worth $32,836,000 after purchasing an additional 1,024,308 shares in the last quarter. Verition Fund Management LLC acquired a new position in shares of Hanesbrands in the third quarter valued at $7,249,000. Finally, BNP Paribas Financial Markets lifted its position in Hanesbrands by 388.9% in the third quarter. BNP Paribas Financial Markets now owns 742,314 shares of the textile maker’s stock worth $5,456,000 after purchasing an additional 590,493 shares during the period. Institutional investors own 80.31% of the company’s stock.

Hanesbrands Company Profile

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.