Hanesbrands Inc. (NYSE:HBI – Get Rating) hit a new 52-week low during trading on Monday after Citigroup lowered their price target on the stock from $17.00 to $14.00. The stock traded as low as $12.20 and last traded at $12.60, with a volume of 896991 shares changing hands. The stock had previously closed at $12.71.
Other equities research analysts have also recently issued reports about the stock. Credit Suisse Group decreased their price objective on shares of Hanesbrands from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Friday, February 4th. Zacks Investment Research raised Hanesbrands from a “sell” rating to a “hold” rating and set a $16.00 price objective on the stock in a report on Thursday, March 17th. StockNews.com assumed coverage on Hanesbrands in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Stifel Nicolaus cut Hanesbrands from a “buy” rating to a “hold” rating and decreased their target price for the stock from $26.00 to $13.00 in a research report on Thursday. Finally, Wells Fargo & Company dropped their price target on shares of Hanesbrands from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 5th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $19.11.
In other news, Director Cheryl K. Beebe bought 6,250 shares of the stock in a transaction dated Tuesday, February 8th. The shares were acquired at an average price of $15.61 per share, with a total value of $97,562.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephen B. Bratspies bought 34,292 shares of the company’s stock in a transaction that occurred on Thursday, February 24th. The shares were purchased at an average price of $14.63 per share, with a total value of $501,691.96. The disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Vantage Consulting Group Inc increased its holdings in Hanesbrands by 5.4% during the 3rd quarter. Vantage Consulting Group Inc now owns 11,019 shares of the textile maker’s stock valued at $189,000 after purchasing an additional 561 shares in the last quarter. Neo Ivy Capital Management raised its holdings in shares of Hanesbrands by 19.3% in the fourth quarter. Neo Ivy Capital Management now owns 4,215 shares of the textile maker’s stock valued at $70,000 after buying an additional 681 shares during the last quarter. CWM LLC lifted its position in Hanesbrands by 30.4% during the 1st quarter. CWM LLC now owns 3,002 shares of the textile maker’s stock worth $45,000 after buying an additional 700 shares in the last quarter. Prospera Financial Services Inc grew its holdings in Hanesbrands by 4.5% during the 3rd quarter. Prospera Financial Services Inc now owns 16,501 shares of the textile maker’s stock worth $283,000 after acquiring an additional 706 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in Hanesbrands by 35.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,735 shares of the textile maker’s stock valued at $47,000 after acquiring an additional 709 shares in the last quarter. 87.58% of the stock is currently owned by hedge funds and other institutional investors.
The company has a debt-to-equity ratio of 4.27, a current ratio of 1.60 and a quick ratio of 0.84. The firm has a 50-day moving average of $14.62. The company has a market cap of $4.39 billion, a P/E ratio of 9.62 and a beta of 1.47.
Hanesbrands (NYSE:HBI – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The textile maker reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.06. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.54 billion. Hanesbrands had a return on equity of 93.47% and a net margin of 6.68%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.39 EPS. As a group, research analysts expect that Hanesbrands Inc. will post 1.68 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 31st. Shareholders of record on Tuesday, May 10th will be paid a $0.15 dividend. The ex-dividend date is Monday, May 9th. This represents a $0.60 dividend on an annualized basis and a yield of 4.76%. Hanesbrands’s payout ratio is presently 45.80%.
Hanesbrands declared that its board has authorized a stock repurchase plan on Thursday, February 3rd that authorizes the company to repurchase $600.00 million in outstanding shares. This repurchase authorization authorizes the textile maker to buy up to 10.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
About Hanesbrands (NYSE:HBI)
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.