Hanesbrands (NYSE:HBI) Upgraded by UBS Group to Buy Rating

Hanesbrands (NYSE:HBI - Get Free Report) was upgraded by analysts at UBS Group from a "neutral" rating to a "buy" rating in a research note issued on Tuesday, MarketBeat reports. The firm presently has a $11.00 target price on the textile maker's stock, up from their prior target price of $9.00. UBS Group's price objective would suggest a potential upside of 23.32% from the company's current price.

HBI has been the subject of several other research reports. Barclays upped their target price on Hanesbrands from $6.00 to $7.00 and gave the stock an "equal weight" rating in a research report on Monday, November 11th. Stifel Nicolaus upped their price target on Hanesbrands from $4.50 to $6.00 and gave the stock a "hold" rating in a report on Monday, August 12th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $6.90.

Hanesbrands Trading Up 5.6 %

HBI traded up $0.47 on Tuesday, reaching $8.92. 5,473,174 shares of the company's stock were exchanged, compared to its average volume of 7,749,156. Hanesbrands has a twelve month low of $3.58 and a twelve month high of $9.10. The company's 50 day moving average is $7.41 and its 200-day moving average is $6.16. The company has a debt-to-equity ratio of 21.50, a quick ratio of 0.90 and a current ratio of 1.49. The company has a market cap of $3.14 billion, a price-to-earnings ratio of -13.67 and a beta of 1.58.

Hanesbrands (NYSE:HBI - Get Free Report) last released its quarterly earnings data 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 company had revenue of $937.10 million during the quarter, compared to analyst estimates 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 quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 earnings per share. Equities analysts predict that Hanesbrands will post 0.39 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised 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 valued at $233,542,000 after purchasing an additional 1,362,140 shares in the last quarter. Loews Corp increased its holdings in shares of Hanesbrands by 108.7% in the 2nd quarter. Loews Corp now owns 29,197,796 shares of the textile maker's stock valued at $143,945,000 after acquiring an additional 15,206,007 shares during the last quarter. Cooke & Bieler LP raised its position in shares of Hanesbrands by 2.1% during the 2nd quarter. Cooke & Bieler LP now owns 16,329,763 shares of the textile maker's stock valued at $80,506,000 after acquiring an additional 342,056 shares in the last quarter. Geode Capital Management LLC lifted its stake in Hanesbrands by 1.1% during the third quarter. Geode Capital Management LLC now owns 7,914,447 shares of the textile maker's stock worth $58,183,000 after purchasing an additional 89,367 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Hanesbrands by 18.2% in the second 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 during the period. Hedge funds and other 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.