Hanesbrands Inc. (NYSE:HBI) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Hanesbrands Inc. (NYSE:HBI – Get Rating) have been given a consensus recommendation of “Hold” by the thirteen brokerages that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $8.60.

A number of equities analysts recently weighed in on HBI shares. StockNews.com started coverage on Hanesbrands in a research report on Thursday, May 18th. They issued a “sell” rating for the company. UBS Group decreased their price target on Hanesbrands from $7.00 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, March 29th. SpectralCast restated a “maintains” rating on shares of Hanesbrands in a research report on Friday, April 28th. TheStreet lowered Hanesbrands from a “c” rating to a “d+” rating in a research report on Thursday, February 2nd. Finally, Stifel Nicolaus decreased their price objective on Hanesbrands from $7.00 to $6.00 in a research report on Thursday, May 4th.

Institutional Investors Weigh In On Hanesbrands

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. raised its stake in shares of Hanesbrands by 196.2% during the 1st quarter. Ameriprise Financial Inc. now owns 1,693,356 shares of the textile maker’s stock worth $8,905,000 after purchasing an additional 1,121,747 shares in the last quarter. SkyView Investment Advisors LLC bought a new position in shares of Hanesbrands in the 1st quarter valued at approximately $248,000. Advisory Services Network LLC raised its stake in shares of Hanesbrands by 64.6% in the 1st quarter. Advisory Services Network LLC now owns 146,939 shares of the textile maker’s stock valued at $773,000 after acquiring an additional 57,681 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Hanesbrands by 270.6% in the 1st quarter. Thrivent Financial for Lutherans now owns 346,869 shares of the textile maker’s stock valued at $1,825,000 after acquiring an additional 253,276 shares in the last quarter. Finally, KB Financial Partners LLC bought a new position in shares of Hanesbrands in the 1st quarter valued at approximately $171,000. 81.87% of the stock is owned by hedge funds and other institutional investors.

Hanesbrands Price Performance

NYSE:HBI opened at $4.19 on Wednesday. The business’s 50-day moving average price is $4.78 and its 200 day moving average price is $5.95. The firm has a market cap of $1.46 billion, a P/E ratio of -5.24 and a beta of 1.58. Hanesbrands has a 52-week low of $3.85 and a 52-week high of $12.13. The company has a quick ratio of 0.60, a current ratio of 1.72 and a debt-to-equity ratio of 10.57.

Hanesbrands (NYSE:HBI – Get Rating) last released its quarterly earnings results on Wednesday, May 3rd. The textile maker reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). Hanesbrands had a positive return on equity of 38.23% and a negative net margin of 4.64%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the company posted $0.34 EPS. Hanesbrands’s revenue for the quarter was down 11.8% on a year-over-year basis. As a group, sell-side analysts predict that Hanesbrands will post 0.34 earnings per share for the current fiscal year.

Hanesbrands Company Profile

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Hanesbrands, Inc engages in the business of designing, manufacturing, sourcing, and selling basic apparel such as T-shirts, bras, panties, shape wear, underwear, socks, and activewear. It operates through the following segments: Innerwear, Activewear, and International. The Innerwear segment includes basic apparel including men’s underwear, women’s panties, children’s underwear, and socks, and intimate apparel such as bras, and shape wear.