Hanesbrands (NYSE:HBI) Stock Price Expected to Rise, Barclays Analyst Says

Hanesbrands (NYSE:HBI - Get Free Report) had its price target hoisted by Barclays from $6.00 to $7.00 in a report issued on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the textile maker's stock. Barclays's price objective would suggest a potential downside of 11.28% from the company's current price.

Several other research firms have also weighed in on HBI. Stifel Nicolaus increased their target price on shares of Hanesbrands from $4.50 to $6.00 and gave the stock a "hold" rating in a report on Monday, August 12th. UBS Group raised their price objective on Hanesbrands from $5.00 to $6.50 and gave the stock a "neutral" rating in a research note on Tuesday, August 27th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $6.00.

Hanesbrands Trading Down 1.4 %

HBI stock traded down $0.11 during midday trading on Monday, reaching $7.89. The stock had a trading volume of 6,465,883 shares, compared to its average volume of 7,821,760. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of -11.95 and a beta of 1.58. Hanesbrands has a twelve month low of $3.58 and a twelve month high of $8.70. The company has a quick ratio of 0.86, a current ratio of 1.49 and a debt-to-equity ratio of 21.50. The business has a fifty day simple moving average of $7.01 and a two-hundred day simple moving average of $5.88.

Hanesbrands (NYSE:HBI - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.04. Hanesbrands had a negative net margin of 5.24% and a positive return on equity of 44.72%. The business had revenue of $937.10 million during the quarter, compared to the consensus estimate of $936.47 million. During the same period in the previous year, the firm posted $0.10 earnings per share. Hanesbrands's revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, research analysts expect that Hanesbrands will post 0.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Hanesbrands

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Hanesbrands by 3.5% in the first quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker's stock valued at $233,542,000 after purchasing an additional 1,362,140 shares in the last quarter. Shell Asset Management Co. boosted its position in Hanesbrands by 127.0% during the 1st quarter. Shell Asset Management Co. now owns 20,417 shares of the textile maker's stock worth $118,000 after acquiring an additional 11,423 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Hanesbrands by 212.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 409,468 shares of the textile maker's stock worth $2,375,000 after acquiring an additional 278,383 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Hanesbrands by 7.4% in the first quarter. ProShare Advisors LLC now owns 70,932 shares of the textile maker's stock valued at $411,000 after purchasing an additional 4,881 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Hanesbrands by 237.5% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 98,329 shares of the textile maker's stock worth $564,000 after purchasing an additional 69,197 shares in the last quarter. 80.31% of the stock is owned by institutional investors and hedge funds.

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.