Barclays Downgrades Hanesbrands (NYSE:HBI) to Equal Weight

Hanesbrands (NYSE:HBIGet Rating) was downgraded by equities research analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research note issued on Wednesday, The Fly reports.

HBI has been the topic of several other research reports. Stifel Nicolaus decreased their price target on Hanesbrands from $13.00 to $11.00 in a research note on Wednesday, May 18th. Citigroup decreased their target price on Hanesbrands from $17.00 to $14.00 in a research report on Friday, May 6th. Zacks Investment Research raised Hanesbrands from a “sell” rating to a “hold” rating and set a $16.00 target price on the stock in a report on Thursday, March 17th. TheStreet downgraded Hanesbrands from a “b-” rating to a “c+” rating in a research note on Monday. Finally, StockNews.com began coverage on shares of Hanesbrands in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Hanesbrands currently has an average rating of “Hold” and an average target price of $18.00.

NYSE:HBI opened at $11.85 on Wednesday. Hanesbrands has a 1 year low of $10.94 and a 1 year high of $20.74. The company has a debt-to-equity ratio of 4.27, a quick ratio of 0.72 and a current ratio of 1.60. The stock has a fifty day moving average price of $13.18 and a two-hundred day moving average price of $15.05. The stock has a market capitalization of $4.13 billion, a price-to-earnings ratio of 9.05 and a beta of 1.47.

Hanesbrands (NYSE:HBIGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The textile maker reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.06. Hanesbrands had a net margin of 6.68% and a return on equity of 93.47%. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the firm posted $0.39 EPS. The business’s revenue was up 4.5% compared to the same quarter last year. On average, analysts predict that Hanesbrands will post 1.67 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky grew its stake in Hanesbrands by 43.3% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 44,689 shares of the textile maker’s stock worth $665,000 after acquiring an additional 13,500 shares during the period. Bank of America Corp DE increased its stake in Hanesbrands by 16.7% in the first quarter. Bank of America Corp DE now owns 1,985,797 shares of the textile maker’s stock valued at $29,568,000 after purchasing an additional 283,557 shares during the last quarter. Toroso Investments LLC lifted its position in Hanesbrands by 38.4% during the first quarter. Toroso Investments LLC now owns 51,925 shares of the textile maker’s stock worth $773,000 after buying an additional 14,394 shares during the period. Keeley Teton Advisors LLC purchased a new position in Hanesbrands during the first quarter worth about $280,000. Finally, Wall Street Access Asset Management LLC boosted its stake in Hanesbrands by 7.1% in the 1st quarter. Wall Street Access Asset Management LLC now owns 44,352 shares of the textile maker’s stock worth $659,000 after buying an additional 2,945 shares during the last quarter. 87.58% of the stock is currently owned by institutional investors and hedge funds.

About Hanesbrands (Get Rating)

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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