Hanesbrands (NYSE:HBI) Raised to Buy at UBS Group

Hanesbrands (NYSE:HBI) was upgraded by equities researchers at UBS Group from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday,Briefing.com Automated Import reports. The firm presently has a $11.00 price objective on the textile maker’s stock, up from their previous price objective of $9.00. UBS Group’s target price indicates a potential upside of 30.18% from the stock’s current price.

Several other research firms have also issued reports on HBI. Stifel Nicolaus lifted 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. Barclays lifted their price target on shares of Hanesbrands from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Hanesbrands has an average rating of “Hold” and a consensus target price of $6.90.

Hanesbrands Stock Performance

Shares of NYSE:HBI opened at $8.45 on Tuesday. 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 firm’s 50 day simple moving average is $7.37 and its 200-day simple moving average is $6.13. Hanesbrands has a one year low of $3.58 and a one year high of $8.90. The firm has a market cap of $2.98 billion, a PE ratio of -12.80 and a beta of 1.58.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $937.10 million for the quarter, compared to the consensus estimate of $936.47 million. During the same period last year, the firm earned $0.10 earnings per share. The company’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, equities analysts predict that Hanesbrands will post 0.39 EPS for the current year.

Institutional Investors Weigh In On Hanesbrands

Large investors have recently made changes to their positions in the stock. Rothschild Investment LLC purchased a new stake in shares of Hanesbrands during the second quarter valued at $39,000. Blue Trust Inc. grew its holdings in shares of Hanesbrands by 42.3% during the third quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker’s stock valued at $39,000 after buying an additional 1,594 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Hanesbrands during the second quarter valued at $51,000. Whittier Trust Co. purchased a new stake in shares of Hanesbrands during the third quarter valued at $51,000. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in shares of Hanesbrands during the second quarter valued at $55,000. 80.31% of the stock is owned by hedge funds and other institutional investors.

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.