Zacks Investment Research upgraded shares of Hanesbrands (NYSE:HBI) from a strong sell rating to a hold rating in a report published on Wednesday morning.
According to Zacks, “Hanesbrands, which has been battling escalated costs, has lagged the industry in the last six months. After reporting in-line earnings in the preceding two quarters, the company succumbed to a negative earnings surprise in the fourth quarter of 2017. Moreover, earnings fell year over year, hit by higher cost of sales and SG&A expenses as well as escalated interest expense. Further, management remains cautious about 2018, given a challenging U.S. wholesale landscape. Nonetheless, we remain hopeful about the company’s focus on buyouts as evident from its recent acquisition of Bras N Things that is likely to augment 2018 earnings. Further, the Project Booster cost savings initiative is also well on-track. Also, the company’s return to organic sales growth during the fourth quarter was noteworthy. Moreover, Hanesbrands’ online sales, which surged 22% in the quarter remains a major driver.”
Other equities analysts have also issued research reports about the company. B. Riley cut their price target on Hanesbrands from $33.00 to $30.00 and set a buy rating on the stock in a research note on Thursday, February 8th. Macquarie began coverage on Hanesbrands in a research note on Monday, April 2nd. They set a neutral rating and a $19.00 price target on the stock. Wells Fargo set a $20.00 price target on Hanesbrands and gave the company a hold rating in a research note on Friday, February 9th. Citigroup cut their price target on Hanesbrands from $23.00 to $22.00 and set a neutral rating on the stock in a research note on Friday, February 9th. Finally, ValuEngine lowered Hanesbrands from a buy rating to a hold rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $24.87.
Shares of Hanesbrands stock opened at $18.13 on Wednesday. The firm has a market cap of $6,686.11, a PE ratio of 9.39, a PEG ratio of 1.17 and a beta of 0.73. The company has a debt-to-equity ratio of 5.40, a quick ratio of 0.85 and a current ratio of 1.90. Hanesbrands has a 12 month low of $17.94 and a 12 month high of $25.73.
Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Thursday, February 8th. The textile maker reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.63 billion. Hanesbrands had a return on equity of 72.30% and a net margin of 0.96%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 earnings per share. sell-side analysts predict that Hanesbrands will post 1.76 earnings per share for the current year.
In other Hanesbrands news, insider W Howard Upchurch, Jr. sold 51,743 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $20.70, for a total value of $1,071,080.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.06% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Guardian Capital LP acquired a new stake in Hanesbrands in the third quarter worth about $9,494,000. Allianz Asset Management GmbH boosted its holdings in Hanesbrands by 1,429.0% in the third quarter. Allianz Asset Management GmbH now owns 358,080 shares of the textile maker’s stock worth $8,823,000 after acquiring an additional 334,661 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in Hanesbrands by 15.8% in the third quarter. Parametric Portfolio Associates LLC now owns 980,400 shares of the textile maker’s stock worth $24,157,000 after acquiring an additional 133,434 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Hanesbrands by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 1,383,535 shares of the textile maker’s stock worth $34,089,000 after acquiring an additional 6,108 shares in the last quarter. Finally, Lapides Asset Management LLC boosted its holdings in Hanesbrands by 19.5% in the fourth quarter. Lapides Asset Management LLC now owns 188,900 shares of the textile maker’s stock worth $3,950,000 after acquiring an additional 30,800 shares in the last quarter. 99.99% of the stock is owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY WARNING: “Hanesbrands (HBI) Upgraded to “Hold” at Zacks Investment Research” was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this report on another publication, it was copied illegally and republished in violation of U.S. & international copyright and trademark law. The original version of this report can be read at https://www.dispatchtribunal.com/2018/04/15/hanesbrands-hbi-upgraded-to-hold-at-zacks-investment-research.html.
Hanesbrands Inc is a marketer of basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia/Pacific under apparel brands, such as Hanes, Champion, Maidenform, DIM, Bali, Playtex, Bonds, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Gear for Sports and Berlei.
Get a free copy of the Zacks research report on Hanesbrands (HBI)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Hanesbrands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanesbrands and related companies with MarketBeat.com's FREE daily email newsletter.