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

UBS Group upgraded shares of Hanesbrands (NYSE:HBI) from a neutral rating to a buy rating in a report published on Tuesday morning, MarketBeat Ratings reports. They currently have $11.00 price objective on the textile maker’s stock, up from their prior price objective of $9.00.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus lifted their price objective on shares of Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a report on Monday, August 12th. Barclays boosted their price target on shares of Hanesbrands from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Hanesbrands currently has a consensus rating of “Hold” and a consensus target price of $6.90.

Hanesbrands Stock Performance

NYSE:HBI opened at $8.84 on Tuesday. Hanesbrands has a fifty-two week low of $3.58 and a fifty-two week high of $9.10. 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 company has a 50 day moving average price of $7.41 and a 200 day moving average price of $6.16. The stock has a market capitalization of $3.11 billion, a P/E ratio of -13.67 and a beta of 1.58.

Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. Hanesbrands had a positive return on equity of 44.72% and a negative net margin of 5.24%. The company had revenue of $937.10 million for the quarter, compared to analysts’ expectations of $936.47 million. During the same period in the prior year, the firm earned $0.10 earnings per share. The firm’s revenue was down 2.5% compared to the same quarter last year. Equities research analysts forecast that Hanesbrands will post 0.39 EPS for the current year.

Hedge Funds Weigh In On Hanesbrands

A number of institutional investors and hedge funds have recently modified their holdings of HBI. Vanguard Group Inc. lifted its holdings in Hanesbrands by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker’s stock worth $233,542,000 after buying an additional 1,362,140 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Hanesbrands by 481.0% during the third quarter. International Assets Investment Management LLC now owns 520,037 shares of the textile maker’s stock worth $3,822,000 after purchasing an additional 430,534 shares during the last quarter. Brandes Investment Partners LP lifted its stake in Hanesbrands by 3.9% during the second quarter. Brandes Investment Partners LP now owns 4,834,202 shares of the textile maker’s stock worth $23,761,000 after purchasing an additional 183,069 shares during the last quarter. Whittier Trust Co. acquired a new position in Hanesbrands in the third quarter valued at approximately $51,000. Finally, Landscape Capital Management L.L.C. purchased a new position in Hanesbrands in the third quarter valued at approximately $785,000. Institutional investors and hedge funds own 80.31% of the company’s stock.

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.