Hanesbrands (NYSE:HBI – Get Rating) had its target price cut by analysts at Citigroup from $14.00 to $11.00 in a research note issued on Thursday, The Fly reports. Citigroup’s price target indicates a potential downside of 1.79% from the company’s previous close.
Several other analysts have also issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Hanesbrands from $18.00 to $13.00 and set an “overweight” rating for the company in a research note on Thursday, July 7th. Evercore ISI downgraded shares of Hanesbrands from an “outperform” rating to an “in-line” rating and cut their price target for the stock from $18.00 to $12.00 in a report on Wednesday, July 13th. Stifel Nicolaus cut their price target on shares of Hanesbrands from $11.00 to $10.00 in a report on Wednesday, July 20th. Cowen cut their price target on shares of Hanesbrands to $11.00 in a report on Thursday, June 9th. Finally, UBS Group cut their price target on shares of Hanesbrands from $14.00 to $12.00 in a report on Friday, July 15th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $14.10.
Hanesbrands Stock Performance
NYSE HBI opened at $11.20 on Thursday. Hanesbrands has a 1 year low of $9.58 and a 1 year high of $20.74. The company has a debt-to-equity ratio of 4.27, a current ratio of 1.60 and a quick ratio of 0.72. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 8.55 and a beta of 1.46. The company has a fifty day moving average price of $10.87 and a 200-day moving average price of $13.26.
Institutional Investors Weigh In On Hanesbrands
Institutional investors have recently added to or reduced their stakes in the business. FSB Premier Wealth Management Inc. purchased a new stake in shares of Hanesbrands in the fourth quarter worth about $28,000. Meeder Asset Management Inc. purchased a new stake in shares of Hanesbrands in the first quarter worth about $30,000. CWM LLC purchased a new stake in shares of Hanesbrands in the fourth quarter worth about $38,000. Quent Capital LLC purchased a new stake in shares of Hanesbrands in the fourth quarter worth about $44,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of Hanesbrands by 109.5% in the fourth quarter. Acadian Asset Management LLC now owns 2,715 shares of the textile maker’s stock worth $44,000 after buying an additional 1,419 shares in the last quarter. 87.58% of the stock is owned by hedge funds and other institutional investors.
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.
- Get a free copy of the StockNews.com research report on Hanesbrands (HBI)
- MarketBeat: Week in Review 8/1 – 8/5
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Cronos Group Inc’s Revenues Are Up, Is It Time to Buy?
- Beyond Meat Is Not Beyond Hope, And It’s Cheap
- Why Apple Could Be At All-Time Highs By Year End
Receive News & Ratings for Hanesbrands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanesbrands and related companies with MarketBeat.com's FREE daily email newsletter.