A number of firms have modified their ratings and price targets on shares of Hanesbrands (NYSE: HBI) recently:
- 8/15/2022 – Hanesbrands was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
- 8/15/2022 – Hanesbrands had its price target lowered by analysts at Barclays PLC from $13.00 to $11.00. They now have an “equal weight” rating on the stock.
- 8/12/2022 – Hanesbrands had its price target lowered by analysts at Credit Suisse Group AG from $15.00 to $13.00. They now have an “outperform” rating on the stock.
- 8/12/2022 – Hanesbrands had its price target lowered by analysts at B. Riley from $18.00 to $14.00. They now have a “buy” rating on the stock.
- 8/12/2022 – Hanesbrands had its price target lowered by analysts at CL King from $17.00 to $15.00.
- 8/4/2022 – Hanesbrands had its price target lowered by analysts at Citigroup Inc. from $14.00 to $11.00.
- 7/20/2022 – Hanesbrands had its price target lowered by analysts at Stifel Nicolaus from $11.00 to $10.00.
- 7/19/2022 – Hanesbrands was given a new $18.00 price target on by analysts at B. Riley.
- 7/15/2022 – Hanesbrands had its price target lowered by analysts at UBS Group AG from $14.00 to $12.00.
- 7/13/2022 – Hanesbrands was downgraded by analysts at Evercore ISI from an “outperform” rating to an “in-line” rating. They now have a $12.00 price target on the stock, down previously from $18.00.
- 7/7/2022 – Hanesbrands had its price target lowered by analysts at Wells Fargo & Company from $18.00 to $13.00. They now have an “overweight” rating on the stock.
Hanesbrands Price Performance
Shares of NYSE:HBI opened at $9.65 on Tuesday. The company has a current ratio of 1.70, a quick ratio of 0.69 and a debt-to-equity ratio of 5.09. The stock has a market cap of $3.37 billion, a PE ratio of 8.04 and a beta of 1.46. The stock’s fifty day simple moving average is $10.70 and its two-hundred day simple moving average is $12.83. Hanesbrands Inc. has a 1-year low of $9.58 and a 1-year high of $19.78.
Hanesbrands (NYSE:HBI – Get Rating) last released its quarterly earnings results on Thursday, August 11th. The textile maker reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.05). The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Hanesbrands had a return on equity of 79.09% and a net margin of 6.37%. The firm’s revenue for the quarter was down 13.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.47 earnings per share. As a group, analysts forecast that Hanesbrands Inc. will post 1.15 EPS for the current fiscal year.
Hanesbrands Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 14th. Stockholders of record on Wednesday, August 24th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 6.22%. The ex-dividend date is Tuesday, August 23rd. Hanesbrands’s dividend payout ratio is presently 50.00%.
Hedge Funds Weigh In On Hanesbrands
Institutional investors have recently modified their holdings of the business. Chartwell Investment Partners LLC grew its holdings in Hanesbrands by 2.4% during the first quarter. Chartwell Investment Partners LLC now owns 116,545 shares of the textile maker’s stock valued at $1,735,000 after purchasing an additional 2,763 shares during the period. New York State Common Retirement Fund grew its holdings in Hanesbrands by 7.4% during the first quarter. New York State Common Retirement Fund now owns 380,056 shares of the textile maker’s stock valued at $5,659,000 after purchasing an additional 26,067 shares during the period. Nordea Investment Management AB grew its holdings in Hanesbrands by 14.0% during the first quarter. Nordea Investment Management AB now owns 45,453 shares of the textile maker’s stock valued at $692,000 after purchasing an additional 5,587 shares during the period. Foster & Motley Inc. grew its holdings in Hanesbrands by 9.7% during the first quarter. Foster & Motley Inc. now owns 56,938 shares of the textile maker’s stock valued at $848,000 after purchasing an additional 5,032 shares during the period. Finally, Redhawk Wealth Advisors Inc. bought a new position in Hanesbrands during the first quarter valued at $486,000. 87.58% of the stock is owned by institutional investors.
Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children. The company operates through three segments: Innerwear, Activewear, and International. It sells men’s underwear, women’s panties, children’s underwear, activewear, and socks, as well as intimate apparel, such as bras and shapewears; home goods; and T-shirts, fleece, performance apparel, sport shirts, performance T-shirts and shorts, sports bras, teamwear, and thermals, as well as licensed logo apparel in collegiate bookstores, mass retailers, and other channels.
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