Hanesbrands (NYSE:HBI) Stock Rating Upgraded by UBS Group

Hanesbrands (NYSE:HBI) was upgraded by stock analysts at UBS Group from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage currently has a $11.00 price target on the textile maker’s stock, up from their previous price target of $9.00. UBS Group’s price objective suggests a potential upside of 25.79% from the company’s previous close.

HBI has been the subject of a number of other reports. Barclays upped their price objective on Hanesbrands from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Stifel Nicolaus upped their price objective on Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Hanesbrands currently has an average rating of “Hold” and a consensus price target of $6.90.

Hanesbrands Trading Down 1.1 %

Shares of HBI opened at $8.75 on Tuesday. The stock has a fifty day moving average of $7.45 and a two-hundred day moving average of $6.19. 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 market capitalization of $3.08 billion, a PE ratio of -13.23 and a beta of 1.58. Hanesbrands has a fifty-two week low of $3.58 and a fifty-two week high of $9.10.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. The company had revenue of $937.10 million during the quarter, compared to the consensus estimate of $936.47 million. Hanesbrands had a positive return on equity of 44.72% and a negative net margin of 5.24%. Hanesbrands’s revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 EPS. As a group, 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 added to or reduced their stakes in HBI. Vanguard Group Inc. boosted its position in Hanesbrands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker’s stock valued at $233,542,000 after buying an additional 1,362,140 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Hanesbrands by 9.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 353,985 shares of the textile maker’s stock valued at $2,050,000 after buying an additional 31,829 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Hanesbrands by 8.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 163,147 shares of the textile maker’s stock valued at $947,000 after buying an additional 12,637 shares during the last quarter. Cetera Advisors LLC boosted its position in Hanesbrands by 233.4% in the 1st quarter. Cetera Advisors LLC now owns 35,481 shares of the textile maker’s stock valued at $206,000 after buying an additional 24,839 shares during the last quarter. Finally, Keynote Financial Services LLC purchased a new position in Hanesbrands in the 1st quarter valued at about $370,000. 80.31% of the stock is owned by hedge funds and other institutional investors.

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.