Stifel Nicolaus Reaffirms “Hold” Rating for Hanesbrands (NYSE:HBI)

Hanesbrands (NYSE:HBI)‘s stock had its “hold” rating reiterated by analysts at Stifel Nicolaus in a report issued on Friday,Benzinga reports. They presently have a $7.00 price target on the textile maker’s stock, down from their previous price target of $8.00. Stifel Nicolaus’ price target would indicate a potential upside of 19.15% from the company’s previous close.

Several other research firms have also recently issued reports on HBI. UBS Group raised Hanesbrands from a “neutral” rating to a “buy” rating and upped their price objective for the company from $9.00 to $11.00 in a research report on Tuesday, November 26th. Barclays boosted their target price on shares of Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Hanesbrands has an average rating of “Hold” and an average target price of $7.10.

Hanesbrands Stock Performance

HBI stock opened at $5.88 on Friday. The stock has a market capitalization of $2.07 billion, a PE ratio of -8.90 and a beta of 1.63. Hanesbrands has a 12-month low of $4.06 and a 12-month high of $9.10. The company has a current ratio of 1.49, a quick ratio of 0.90 and a debt-to-equity ratio of 21.50. The stock’s 50 day simple moving average is $8.15 and its 200 day simple moving average is $7.45.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Thursday, February 13th. The textile maker reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03. The business had revenue of $888.47 million for the quarter, compared to analysts’ expectations of $899.30 million. Hanesbrands had a positive return on equity of 44.72% and a negative net margin of 5.24%. As a group, research analysts forecast that Hanesbrands will post 0.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hanesbrands

Several hedge funds and other institutional investors have recently modified their holdings of HBI. Hennessy Advisors Inc. purchased a new stake in shares of Hanesbrands in the 4th quarter worth $62,199,000. American Century Companies Inc. increased its stake in shares of Hanesbrands by 147.7% in the 4th quarter. American Century Companies Inc. now owns 5,362,455 shares of the textile maker’s stock worth $43,650,000 after purchasing an additional 3,197,544 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Hanesbrands by 60.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,493,266 shares of the textile maker’s stock worth $44,715,000 after purchasing an additional 2,069,315 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Hanesbrands by 484.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,143,791 shares of the textile maker’s stock worth $15,757,000 after purchasing an additional 1,776,690 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of Hanesbrands in the 3rd quarter worth $7,249,000. 80.31% of the stock is currently owned by hedge funds and other institutional investors.

About Hanesbrands

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.