Hanesbrands (NYSE:HBI) Price Target Increased to $6.50 by Analysts at UBS Group

Hanesbrands (NYSE:HBI) had its target price increased by UBS Group from $5.00 to $6.50 in a report issued on Tuesday, Benzinga reports. The firm currently has a neutral rating on the textile maker’s stock.

Several other research analysts have also recently issued reports on HBI. Stifel Nicolaus increased their price target on shares of Hanesbrands from $4.50 to $6.00 and gave the stock a hold rating in a report on Monday, August 12th. Wedbush reissued a neutral rating and issued a $5.00 price target on shares of Hanesbrands in a report on Thursday, June 6th. Finally, Barclays increased their price objective on Hanesbrands from $5.00 to $6.00 and gave the stock an equal weight rating in a research report on Monday, August 12th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Hanesbrands currently has a consensus rating of Hold and an average price target of $5.80.

Hanesbrands Price Performance

Shares of NYSE:HBI opened at $6.38 on Tuesday. Hanesbrands has a one year low of $3.54 and a one year high of $6.77. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of -106.25 and a beta of 1.59. The company has a 50-day simple moving average of $5.55 and a 200-day simple moving average of $5.19. The company has a debt-to-equity ratio of 9.57, a quick ratio of 0.62 and a current ratio of 1.59.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings data on Thursday, August 8th. The textile maker reported $0.15 EPS for the quarter, beating the consensus estimate of $0.10 by $0.05. Hanesbrands had a positive return on equity of 9.84% and a negative net margin of 0.42%. The firm had revenue of $995.40 million during the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the prior year, the business earned ($0.01) EPS. The firm’s revenue was down 3.8% compared to the same quarter last year. On average, analysts predict that Hanesbrands will post 0.46 EPS for the current year.

Institutional Investors Weigh In On Hanesbrands

Institutional investors and hedge funds have recently modified their holdings of the company. Alpha Omega Wealth Management LLC lifted its stake in shares of Hanesbrands by 1.3% during the 2nd quarter. Alpha Omega Wealth Management LLC now owns 157,903 shares of the textile maker’s stock worth $778,000 after purchasing an additional 2,072 shares during the period. Arizona State Retirement System lifted its position in Hanesbrands by 2.3% during the second quarter. Arizona State Retirement System now owns 98,420 shares of the textile maker’s stock worth $485,000 after buying an additional 2,221 shares during the period. Evergreen Capital Management LLC boosted its stake in Hanesbrands by 6.6% in the 2nd quarter. Evergreen Capital Management LLC now owns 37,454 shares of the textile maker’s stock worth $185,000 after buying an additional 2,316 shares during the last quarter. Cerity Partners LLC grew its holdings in Hanesbrands by 6.7% in the 4th quarter. Cerity Partners LLC now owns 41,310 shares of the textile maker’s stock valued at $184,000 after buying an additional 2,605 shares during the period. Finally, Platinum Investment Management Ltd. increased its stake in shares of Hanesbrands by 12.8% during the 4th quarter. Platinum Investment Management Ltd. now owns 24,779 shares of the textile maker’s stock valued at $111,000 after acquiring an additional 2,812 shares during the last quarter. Institutional investors and hedge funds 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.