Hanesbrands (NYSE:HBI) Price Target Raised to $6.00 at Barclays

Hanesbrands (NYSE:HBI) had its price target upped by stock analysts at Barclays from $5.00 to $6.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the textile maker’s stock. Barclays‘s price objective points to a potential downside of 0.99% from the stock’s current price.

A number of other research firms have also recently weighed in on HBI. Stifel Nicolaus increased their price objective on Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a research report on Monday. Wedbush reaffirmed a “neutral” rating and set a $5.00 price target on shares of Hanesbrands in a report on Thursday, June 6th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Hanesbrands has an average rating of “Hold” and an average price target of $5.63.

Hanesbrands Stock Performance

Shares of HBI opened at $6.06 on Monday. The company’s 50 day simple moving average is $5.25 and its 200-day simple moving average is $5.05. The firm has a market cap of $2.13 billion, a PE ratio of -101.00 and a beta of 1.59. Hanesbrands has a 12-month low of $3.54 and a 12-month high of $6.18. The company has a current ratio of 1.59, a quick ratio of 0.62 and a debt-to-equity ratio of 9.57.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings data on Thursday, August 8th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.05. Hanesbrands had a negative net margin of 0.42% and a positive return on equity of 9.84%. The company had revenue of $995.40 million for the quarter, compared to the consensus estimate of $1.35 billion. During the same period last year, the firm posted ($0.01) EPS. Hanesbrands’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, equities analysts predict that Hanesbrands will post 0.46 EPS for the current year.

Hedge Funds Weigh In On Hanesbrands

A number of hedge funds and other institutional investors have recently bought and sold shares of HBI. International Assets Investment Management LLC grew its position in Hanesbrands by 374.5% in the 4th quarter. International Assets Investment Management LLC now owns 490,735 shares of the textile maker’s stock valued at $2,189,000 after buying an additional 387,305 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Hanesbrands by 166.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 35,232 shares of the textile maker’s stock worth $157,000 after purchasing an additional 22,026 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Hanesbrands by 6.7% during the 4th quarter. Cerity Partners LLC now owns 41,310 shares of the textile maker’s stock worth $184,000 after purchasing an additional 2,605 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Hanesbrands during the 4th quarter worth $781,000. Finally, Cullen Investment Group LTD. purchased a new stake in shares of Hanesbrands during the 4th quarter worth $95,000. 80.31% of the stock is currently 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.