Barclays Increases Hanesbrands (NYSE:HBI) Price Target to $7.00

Hanesbrands (NYSE:HBI) had its price target upped by Barclays from $6.00 to $7.00 in a research note issued to investors on Monday,Benzinga reports. Barclays currently has an equal weight rating on the textile maker’s stock.

A number of other brokerages also recently issued reports on HBI. Stifel Nicolaus raised their price target on Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. UBS Group lifted their price target on shares of Hanesbrands from $5.00 to $6.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 27th. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $6.00.

Hanesbrands Stock Performance

NYSE HBI opened at $7.90 on Monday. The company has a debt-to-equity ratio of 21.50, a quick ratio of 0.90 and a current ratio of 1.49. Hanesbrands has a 1-year low of $3.58 and a 1-year high of $8.70. The business has a 50 day simple moving average of $7.10 and a two-hundred day simple moving average of $5.94.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.15 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $937.10 million for the quarter, compared to analysts’ expectations of $936.47 million. During the same quarter in the previous year, the business posted $0.10 earnings per share. Hanesbrands’s quarterly revenue was down 2.5% on a year-over-year basis. On average, sell-side analysts anticipate that Hanesbrands will post 0.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hanesbrands

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its stake in Hanesbrands by 42.3% in the third quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker’s stock worth $39,000 after acquiring an additional 1,594 shares during the period. Whittier Trust Co. purchased a new stake in shares of Hanesbrands in the 3rd quarter worth approximately $51,000. Rothschild Investment LLC bought a new position in shares of Hanesbrands during the second quarter valued at approximately $39,000. Intech Investment Management LLC purchased a new position in Hanesbrands during the second quarter valued at approximately $51,000. Finally, Norden Group LLC bought a new position in Hanesbrands in the first quarter worth approximately $60,000. Institutional investors own 80.31% of the company’s stock.

About Hanesbrands

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.