Hanesbrands (NYSE:HBI) has been given a $27.00 price objective by investment analysts at DA Davidson in a research report issued to clients and investors on Friday. The firm presently has a “buy” rating on the textile maker’s stock. DA Davidson’s target price indicates a potential upside of 45.47% from the company’s current price.
Several other equities analysts also recently commented on the stock. Credit Suisse Group initiated coverage on shares of Hanesbrands in a research note on Monday, March 12th. They set a “neutral” rating and a $21.00 price objective for the company. B. Riley lowered their price objective on shares of Hanesbrands from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Citigroup reaffirmed a “neutral” rating and set a $23.00 price objective on shares of Hanesbrands in a research note on Tuesday, December 19th. Bank of America initiated coverage on shares of Hanesbrands in a research note on Friday, April 6th. They set a “neutral” rating and a $21.00 price objective for the company. Finally, Zacks Investment Research raised shares of Hanesbrands from a “strong sell” rating to a “hold” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $24.87.
NYSE HBI opened at $18.56 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.90 and a debt-to-equity ratio of 5.40. Hanesbrands has a 12-month low of $17.94 and a 12-month high of $25.73. The stock has a market cap of $6,765.36, a price-to-earnings ratio of 9.62, a price-to-earnings-growth ratio of 1.18 and a beta of 0.73.
In related news, insider W Howard Upchurch, Jr. sold 51,743 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $20.70, for a total value of $1,071,080.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.06% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. raised its stake in Hanesbrands by 23.2% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 169,292 shares of the textile maker’s stock worth $3,540,000 after buying an additional 31,847 shares in the last quarter. Xact Kapitalforvaltning AB raised its stake in Hanesbrands by 5.6% in the fourth quarter. Xact Kapitalforvaltning AB now owns 90,301 shares of the textile maker’s stock worth $1,888,000 after buying an additional 4,801 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Hanesbrands by 9.7% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 464,787 shares of the textile maker’s stock worth $9,719,000 after buying an additional 41,026 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in shares of Hanesbrands by 47.7% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 22,600 shares of the textile maker’s stock valued at $473,000 after purchasing an additional 7,300 shares in the last quarter. Finally, MetLife Investment Advisors LLC bought a new position in shares of Hanesbrands during the fourth quarter valued at approximately $2,359,000. 99.99% of the stock is owned by institutional investors.
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Hanesbrands Inc is a marketer of basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia/Pacific under apparel brands, such as Hanes, Champion, Maidenform, DIM, Bali, Playtex, Bonds, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Gear for Sports and Berlei.
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