Hanesbrands’ (HBI) Neutral Rating Reaffirmed at Wedbush

Wedbush reaffirmed their neutral rating on shares of Hanesbrands (NYSE:HBIFree Report) in a report released on Thursday morning, Benzinga reports. Wedbush currently has a $5.00 target price on the textile maker’s stock.

A number of other research analysts have also recently commented on the company. Barclays raised their target price on Hanesbrands from $4.00 to $5.00 and gave the company an equal weight rating in a research note on Friday, May 10th. Citigroup lifted their price objective on Hanesbrands from $4.50 to $5.50 and gave the company a neutral rating in a research note on Wednesday, April 3rd. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of Hold and an average target price of $5.00.

Get Our Latest Stock Analysis on HBI

Hanesbrands Price Performance

Shares of HBI stock opened at $5.25 on Thursday. The firm has a market cap of $1.85 billion, a P/E ratio of -87.50 and a beta of 1.62. Hanesbrands has a fifty-two week low of $3.54 and a fifty-two week high of $5.86. The business’s 50 day moving average price is $4.90 and its 200-day moving average price is $4.65. The company has a debt-to-equity ratio of 9.57, a quick ratio of 0.62 and a current ratio of 1.59.

Hanesbrands (NYSE:HBIGet Free Report) last released its earnings results on Thursday, May 9th. The textile maker reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Hanesbrands had a positive return on equity of 9.84% and a negative net margin of 0.42%. The firm’s revenue for the quarter was down 16.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.06) EPS. On average, equities research analysts anticipate that Hanesbrands will post 0.46 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HBI. Victory Capital Management Inc. grew its holdings in shares of Hanesbrands by 8.8% in the third quarter. Victory Capital Management Inc. now owns 62,079 shares of the textile maker’s stock worth $246,000 after acquiring an additional 5,038 shares during the period. Kestra Private Wealth Services LLC bought a new stake in shares of Hanesbrands in the third quarter worth $80,000. Swiss National Bank grew its holdings in Hanesbrands by 1.0% during the third quarter. Swiss National Bank now owns 768,200 shares of the textile maker’s stock valued at $3,042,000 after purchasing an additional 7,300 shares during the period. Janney Montgomery Scott LLC grew its holdings in Hanesbrands by 72.2% during the third quarter. Janney Montgomery Scott LLC now owns 20,204 shares of the textile maker’s stock valued at $80,000 after purchasing an additional 8,468 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Hanesbrands by 5.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,866,694 shares of the textile maker’s stock valued at $15,312,000 after purchasing an additional 209,214 shares during the period. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Hanesbrands Company Profile

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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.

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