Hanesbrands (NYSE:HBI) Price Target Lowered to $17.00 at Bank of America

Hanesbrands (NYSE:HBI) had its target price cut by Bank of America from $20.00 to $17.00 in a note issued to investors on Friday, BenzingaRatingsTable reports. The brokerage currently has a “neutral” rating on the textile maker’s stock. Bank of America‘s price objective points to a potential upside of 12.14% from the company’s current price.

Other research analysts have also recently issued research reports about the company. ValuEngine cut Hanesbrands from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research cut Hanesbrands from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Hanesbrands presently has a consensus rating of “Hold” and an average price target of $17.44.

Shares of NYSE HBI opened at $15.16 on Friday. Hanesbrands has a 1-year low of $11.57 and a 1-year high of $19.38. The company has a debt-to-equity ratio of 3.84, a current ratio of 1.66 and a quick ratio of 0.64. The stock has a fifty day moving average of $16.70. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 9.19, a PEG ratio of 3.05 and a beta of 1.10.

Hanesbrands (NYSE:HBI) last issued its earnings results on Thursday, August 1st. The textile maker reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.01. Hanesbrands had a return on equity of 69.68% and a net margin of 7.99%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period last year, the company earned $0.45 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts predict that Hanesbrands will post 1.77 earnings per share for the current year.

In other news, CFO Barry Hytinen bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was acquired at an average price of $17.56 per share, with a total value of $175,600.00. Following the completion of the purchase, the chief financial officer now directly owns 176,312 shares of the company’s stock, valued at approximately $3,096,038.72. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.04% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Rational Advisors LLC boosted its position in shares of Hanesbrands by 254.6% in the 1st quarter. Rational Advisors LLC now owns 1,585 shares of the textile maker’s stock valued at $28,000 after purchasing an additional 1,138 shares during the period. CWM LLC boosted its position in shares of Hanesbrands by 6,184.4% in the 1st quarter. CWM LLC now owns 2,011 shares of the textile maker’s stock valued at $36,000 after purchasing an additional 1,979 shares during the period. First Personal Financial Services boosted its position in shares of Hanesbrands by 150.8% in the 1st quarter. First Personal Financial Services now owns 2,169 shares of the textile maker’s stock valued at $39,000 after purchasing an additional 1,304 shares during the period. Investors Research Corp acquired a new position in shares of Hanesbrands in the 1st quarter valued at $48,000. Finally, Private Ocean LLC acquired a new position in shares of Hanesbrands in the 2nd quarter valued at $49,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

Hanesbrands Company Profile

Hanesbrands, Inc is a consumer goods company, which engages in the design, manufacture, sourcing, and sale of everyday basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia Pacific. It operates through the following three segments: Innerwear, Activewear and International.

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Analyst Recommendations for Hanesbrands (NYSE:HBI)

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