Hanesbrands (NYSE:HBI) Price Target Cut to $11.00

Hanesbrands (NYSE:HBIGet 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.

Hanesbrands (NYSE:HBIGet Rating) last posted its earnings results 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. Hanesbrands had a net margin of 6.68% and a return on equity of 93.47%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the business posted $0.39 EPS. The business’s revenue was up 4.5% compared to the same quarter last year. As a group, equities research analysts predict that Hanesbrands will post 1.57 EPS for the current fiscal year.

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.

About Hanesbrands

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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.

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