Hanesbrands (NYSE:HBI) Upgraded at UBS Group

UBS Group upgraded shares of Hanesbrands (NYSE:HBI) from a neutral rating to a buy rating in a research note published on Tuesday morning, Marketbeat Ratings reports. UBS Group currently has $11.00 price target on the textile maker’s stock, up from their previous price target of $9.00.

A number of other research firms have also commented on HBI. Stifel Nicolaus lifted their price objective on shares of Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Barclays upped their price objective on Hanesbrands from $6.00 to $7.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Hanesbrands currently has a consensus rating of “Hold” and a consensus price target of $6.90.

Hanesbrands Stock Up 4.6 %

Shares of NYSE HBI opened at $8.84 on Tuesday. The business has a 50-day moving average price of $7.41 and a 200 day moving average price of $6.16. The stock has a market cap of $3.11 billion, a PE ratio of -13.67 and a beta of 1.58. The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 21.50. Hanesbrands has a 52-week low of $3.58 and a 52-week high of $9.10.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings data 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 business 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%. The company’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 earnings per share. Equities research analysts forecast that Hanesbrands will post 0.39 earnings per share for the current year.

Institutional Investors Weigh In On Hanesbrands

Hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in Hanesbrands by 42.3% in the third quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker’s stock valued at $39,000 after acquiring an additional 1,594 shares during the period. Whittier Trust Co. purchased a new stake in Hanesbrands during the third quarter worth about $51,000. Rothschild Investment LLC acquired a new position in Hanesbrands during the second quarter worth about $39,000. Intech Investment Management LLC acquired a new position in Hanesbrands during the second quarter worth about $51,000. Finally, ERTS Wealth Advisors LLC purchased a new position in Hanesbrands in the third quarter valued at about $76,000. Institutional investors and hedge funds own 80.31% of the company’s stock.

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.